Houston-based Sterling Construction Co., Inc. completed recently the acquisition of an 80% ownership interest in Salt Lake City-based Ralph L. Wadsworth Construction Co.. Sterling paid $64.7 million for the 80% ownership interest in RLW that it purchased from four related individuals, who have retained the remaining 20% interest subject to a put/call arrangement.
RLW is a heavy civil construction company focused on the design and construction of bridges, roads and highways, primarily in the state of Utah. RLW’s largest customer is the Utah Department of Transportation. RLW had 2009 revenue of about $112 million for the nine months that ended Sept. 30.
Sterling is a heavy civil construction company that builds and reconstructs transportation and water infrastructure in large and growing markets in Texas, Nevada and now Utah.