Houlihan Lokey Advises Plateau Excavation

Houlihan Lokey is pleased to announce that Plateau Excavation, Inc., and its related entities, LK Gregory Construction, Inc., and DeWitt Excavation, Inc. ("Plateau or "the company"), have been acquired by Sterling Construction Company, Inc. (NASDAQ:STRL). The transaction closed on October 2, 2019.

Founded in Austell, Georgia, in 1983, Plateau is a leading provider of complex, large-scale site infrastructure services in the Southeastern U.S. It is the largest excavating contractor in the region and serves general contractors, developers, and blue-chip customers in the distribution center and warehousing, ecommerce, data center, commercial, and energy sectors. The company, through its approximately 800 employees and best-in-class fleet of equipment, is uniquely capable of providing a full suite of site infrastructure services and delivering on projects with demanding schedules and scales.

Sterling Construction Company, Inc., a Delaware corporation, is a construction company that specializes in heavy civil infrastructure construction and infrastructure rehabilitation as well as residential construction projects—primarily in Arizona, California, Colorado, Hawaii, Nevada, Texas, Utah, and other states in which there are feasible construction opportunities. Its heavy civil construction projects include highways, roads, bridges, airfields, ports, light rail, water, wastewater and storm drainage systems, foundations for multifamily homes, commercial concrete projects, and parking structures. Its residential construction projects include concrete foundations for single-family homes.

Houlihan Lokey served as the exclusive financial advisor to Plateau. This transaction exemplifies the continued success of Houlihan Lokey's dedicated coverage of the industrial services market as well as the firm's ability to bring deep domain knowledge across the full breadth of the environmental services landscape to deliver outstanding results for clients.