Knife River to Expand Footprint With $454M Strata Acquisition

Knife River Corporation (KNF) has entered a definitive agreement to acquire Strata Corporation, a leading construction materials and contracting services provider operating in North Dakota and northwestern Minnesota. The purchase price of $454 million is based on Strata's estimated 2025 adjusted EBITDA, indicating a multiple in the high single digits.The transaction is expected to close in the first half of 2025, subject to regulatory approvals and standard closing conditions. KNF plans to fund the acquisit ...