Sterling Infrastructure (NASDAQ: STRL) adds Stone Ridge in E-Infrastructure acquisition
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
Sterling Infrastructure, Inc. has closed the acquisition of Stone Ridge Contracting, LLC, a Pocatello, Idaho-based site development contractor that will join Sterling’s E-Infrastructure Solutions segment. Stone Ridge provides heavy civil, concrete and construction management services to data centers, mining and industrial infrastructure customers.
Stone Ridge is expected to generate full-year 2026 revenue between $180 million and $200 million with EBITDA margins described as in the mid-teens. The deal expands Sterling’s E-Infrastructure footprint across Idaho, Oregon, North Dakota, Washington and Texas. The upfront purchase price is a mix of cash and Sterling common stock, with an additional earn-out opportunity tied to EBITDA targets through December 31, 2031.
Positive
- None.
Negative
- None.
Insights
Sterling is bolstering its E-Infrastructure business with a closed, revenue-generating acquisition.
Sterling Infrastructure is adding Stone Ridge Contracting to its E-Infrastructure Solutions segment, immediately expanding its presence in site development for data centers, mining and industrial infrastructure. Management positions Stone Ridge as a leading non-union contractor with operations across several high-growth end markets.
The target is expected to contribute full-year 2026 revenue of $180 million to $200 million with EBITDA margins in the mid-teens, which aligns with management’s description of well-run peers. The purchase price multiple is said to be within Sterling’s typical range, and consideration includes both cash and stock plus a performance-based earn-out through December 31, 2031, tying part of the economics to future EBITDA delivery.
8-K Event Classification
2 items: 7.01, 9.01
2 items
Item 7.01
Regulation FD Disclosure
Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Expected 2026 Stone Ridge revenue (low end): $180 million
Expected 2026 Stone Ridge revenue (high end): $200 million
EBITDA performance period end for earn-out: December 31, 2031
3 metrics
Expected 2026 Stone Ridge revenue (low end)
$180 million
Full-year 2026 revenue guidance range for Stone Ridge
Expected 2026 Stone Ridge revenue (high end)
$200 million
Full-year 2026 revenue guidance range for Stone Ridge
EBITDA performance period end for earn-out
December 31, 2031
Deadline for Stone Ridge to meet EBITDA targets for earn-out
Key Terms
Regulation FD Disclosure, EBITDA, earn out, E-Infrastructure Solutions, +1 more
5 terms
Regulation FD Disclosure regulatory
"Item 7.01 | Regulation FD Disclosure. On June 9, 2026, Sterling Infrastructure, Inc."
Regulation FD disclosure requires public companies to share important, market-moving information with everyone at the same time instead of tipping off analysts or large investors first. Think of it as making sure all players on a field hear the same announcement simultaneously; that fairness helps investors trust that stock prices reflect the same information and reduces the risk of sudden, unfair trading advantages or regulatory penalties for selective leaks.
EBITDA financial
"Stone Ridge is expected to generate full-year 2026 revenue ... and EBITDA margins in the mid-teens"
EBITDA stands for earnings before interest, taxes, depreciation, and amortization. It measures a company's profitability by focusing on the money it makes from its core operations, ignoring expenses like taxes and accounting adjustments. Investors use EBITDA to compare how well different companies are performing financially, as it provides a clearer picture of operational success without the influence of financial structure or accounting choices.
earn out financial
"Stone Ridge has an earn out opportunity, contingent upon meeting certain EBITDA targets"
An earn-out is a portion of the purchase price in a business sale that is paid later only if the acquired business hits agreed future targets, such as sales, profit, or specific milestones. It matters to investors because it shifts risk between buyer and seller—buyers pay less up front and sellers can earn more if performance is strong—so earn-outs affect expected future cash flows, the reliability of the deal’s valuation, and how quickly value from the acquisition may materialize.
E-Infrastructure Solutions financial
"Stone Ridge will join Sterling's E-Infrastructure Solutions segment."
site development contractor financial
"Stone Ridge Contracting, LLC., a Pocatello, Idaho-based site development contractor."
UNITED STATES SECURITIES AND EXCHANGE COMMISSION | ||||||||||||||
Washington, D.C. 20549 | ||||||||||||||
FORM | ||||||||||||||
CURRENT REPORT | ||||||||||||||
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 | ||||||||||||||
Date of Report (Date of earliest event reported): | ||||||||||||||
 | ||||||||||||||
| (Exact name of registrant as specified in its charter) | ||||||||||||||
| (State or other jurisdiction of incorporation or organization) | (Commission File Number) | (I.R.S. Employer Identification No.) | ||||||||||||
| (Address of principal executive offices) | (Zip Code) | |||||||||||||
Registrant’s telephone number, including area code: ( | ||||||||||||||
| Securities registered pursuant to Section 12(b) of the Act: | ||||||||
| (Title of Class) | (Trading Symbol) | (Name of each exchange on which registered) | ||||||
| Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: | |||||||||||
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||||||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||||||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||||||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||||||||
| Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR § 240.12b-2 of this chapter). | |||||
| Emerging growth company | |||||
| If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. | ☐ | ||||||||||
| Item 7.01 | Regulation FD Disclosure. | ||||
On June 9, 2026, Sterling Infrastructure, Inc. (the “Company”) issued a press release announcing that it has closed on the acquisition of Stone Ridge Contracting, LLC., a Pocatello, Idaho-based site development contractor. A copy of the press release is furnished herewith as Exhibit 99.1 and incorporated herein by reference. The information set forth in Item 7.01, including Exhibit 99.1, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section. The information in this Item 7.01, including Exhibit 99.1, shall not be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing. | |||||
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
| Exhibit Number | Description | |||||||
| 99.1 | Press release, dated June 9, 2026 | |||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |||||||
| SIGNATURES | ||
| Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. | ||
| STERLING INFRASTRUCTURE, INC. | |||||||||||
| Date: | June 9, 2026 | By: | /s/ Mark D. Wolf | ||||||||
| Mark D. Wolf | |||||||||||
| General Counsel and Corporate Secretary | |||||||||||
NEWS RELEASE
For Immediate Release:
June 9, 2026
Sterling Announces Acquisition of Stone Ridge Contracting, LLC.
THE WOODLANDS, TX – June 9, 2026
Acquisition Expands Sterling's E-Infrastructure Site Development Services Into the Pacific Northwest
Sterling Infrastructure, Inc. (NasdaqGS: STRL) ("Sterling" or "the Company") today announced that it has closed on the acquisition of Stone Ridge Contracting, LLC. (Stone Ridge), a Pocatello, Idaho-based site development contractor. Stone Ridge will join Sterling's E-Infrastructure Solutions segment.
Stone Ridge is a leading, non-union contractor delivering heavy civil, concrete, and construction management services across high-growth sectors including data centers, mining, and industrial infrastructure. The transaction strengthens Sterling's E-Infrastructure geographic footprint across the Pacific Northwest and Texas, which have been key focus areas for strategic geographic expansion. The Stone Ridge service area includes Idaho, Oregon, North Dakota, Washington, and Texas.
Stone Ridge is expected to generate full-year 2026 revenue in the range of $180 million to $200 million and EBITDA margins in the mid-teens, consistent with well-run site development contractors of similar scale. Sterling plans to update its full year 2026 financial guidance to reflect the partial year contribution from Stone Ridge at the time of its second quarter 2026 financial report.
The purchase price multiple paid for Stone Ridge is within Sterling's typical range for site development assets. The upfront purchase price consists of a combination of cash and Sterling common stock. Additionally, Stone Ridge has an earn out opportunity, contingent upon meeting certain EBITDA targets on or before December 31, 2031.
Management Commentary
"We are excited to welcome Stone Ridge to the Sterling family. The team at Stone Ridge has built an exceptional company through a relentless focus on customers, operational excellence, and entrepreneurial leadership," stated Joe Cutillo, Sterling's Chief Executive Officer. “Just as important, they share Sterling’s culture and long-term approach to creating value. We are pleased that the leadership team will remain in place following the transaction to guide the business through its next chapter of growth."
"This acquisition strengthens our ability to serve existing customers across a broader geographic footprint while also adding new, attractive end markets and customer relationships," continued Mr. Cutillo. "Further, we believe that by leveraging Sterling's broad platform and financial resources, there is a compelling opportunity to accelerate growth and drive margin expansion at Stone Ridge. We look forward to building on the strong foundation already in place and capitalizing on the significant opportunities ahead."
About Sterling
Sterling Infrastructure, Inc., (“Sterling,” “the Company,” “we,” “our” or “us”) operates through a variety of subsidiaries within three segments specializing in E-Infrastructure, Transportation and Building Solutions in the United States, primarily across the Southern, Northeastern, Mid-Atlantic and Rocky Mountain regions and the Pacific Islands. E-Infrastructure Solutions provides advanced, large-scale site development services and mission-critical electrical services for data centers, semiconductor fabrication, manufacturing, distribution centers, warehousing, power generation and more. Transportation Solutions includes infrastructure and rehabilitation projects for highways, roads, bridges, airports, ports, rail and storm drainage systems. Building Solutions includes residential and commercial concrete foundations for single-family and multi-family homes, parking structures, elevated slabs, other concrete work, plumbing services, and surveys for new single-family residential builds. From strategy to operations, we are committed to sustainability by operating responsibly to safeguard and improve society’s quality of life. Caring for our people and our communities, our customers and our investors – that is The Sterling Way.
Joe Cutillo, CEO, "We build and service the infrastructure that enables our economy to run,
our people to move and our country to grow."
Company Contact:
Sterling Infrastructure, Inc.
Noelle Dilts, VP of Investor Relations and Corporate Strategy
281-214-0795
Noelle.Dilts@strlco.com
FAQ
What acquisition did Sterling Infrastructure (STRL) announce on June 9, 2026?
Sterling Infrastructure announced it closed the acquisition of Stone Ridge Contracting, LLC, a Pocatello, Idaho-based site development contractor, which will join Sterling’s E-Infrastructure Solutions segment and expand its presence in data center, mining and industrial infrastructure projects.
How much revenue is Stone Ridge expected to add to Sterling Infrastructure (STRL) in 2026?
Stone Ridge is expected to generate full-year 2026 revenue between $180 million and $200 million. This forecast reflects its existing operations across data centers, mining and industrial infrastructure and will be partially reflected when Sterling updates its 2026 guidance with second-quarter results.
What profitability level does Sterling expect from Stone Ridge after the acquisition?
Sterling expects Stone Ridge to deliver EBITDA margins in the mid-teens in 2026. Management notes this is consistent with well-run site development contractors of similar scale, suggesting Stone Ridge operates at a competitive profitability level within its niche markets.
How is the Stone Ridge acquisition structured for Sterling Infrastructure (STRL)?
The upfront purchase price for Stone Ridge consists of a mix of cash and Sterling common stock. In addition, Stone Ridge can earn further consideration through an earn-out, contingent on achieving specified EBITDA targets on or before December 31, 2031.
How does the Stone Ridge deal affect Sterling’s 2026 financial guidance?
Sterling plans to update its full-year 2026 financial guidance to reflect the partial-year contribution from Stone Ridge. The company expects to provide this updated guidance when it reports its second quarter 2026 financial results, incorporating Stone Ridge’s projected revenue and margins.
What regions and markets will Sterling Infrastructure (STRL) gain through Stone Ridge?
Through Stone Ridge, Sterling strengthens its E-Infrastructure footprint in Idaho, Oregon, North Dakota, Washington and Texas. The acquired business serves high-growth sectors, including data centers, mining and industrial infrastructure, broadening Sterling’s geographic reach and customer base in these areas.