Centennial Aggregate, a Granite Construction subsidiary, acquired Cinderlite Trucking Corp., a construction materials, landscape supply and transportation company in Carson City, Nevada.
“I am happy to announce the acquisition of Cinderlite,” says Kyle Larkin, Granite president and CEO. “It is a great construction materials business that is aligned with our home market strategy in the busy northern Nevada construction landscape. This acquisition shows that we remain focused on identifying transactions that will immediately contribute to the bottom line.”
Founded in 1986, Cinderlite operates five aggregate yards and one recycling yard in and around Carson City.
“Like our recent acquisitions of Warren Paving and Papich Construction, the Cinderlite transaction is in line with our capital allocation strategy and supports sustainable, long-term value creation for our shareholders,” says Staci Woolsey, Granite CFO. “We will continue to leverage our cash generation and credit facility to execute high-quality acquisitions.”
Related: Granite makes gains across the board in second quarter
