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Sterling Infrastructure Completes Acquisition of CEC Facilities Group
Prnewswireยท 2025-09-02 12:30
Core Viewpoint - Sterling Infrastructure, Inc. has completed the acquisition of CEC Facilities Group, significantly enhancing its E-Infrastructure capabilities and positioning the company for future growth and innovation in the industry [1][2]. Company Overview - Sterling operates through various subsidiaries across three segments: E-Infrastructure, Transportation, and Building Solutions, primarily in the Southern, Northeastern, Mid-Atlantic, Rocky Mountain regions, and the Pacific Islands [3]. - The E-Infrastructure Solutions segment focuses on large-scale site development and mission-critical electrical services for data centers, semiconductor fabrication, and power generation [3]. Financial Contributions from CEC - CEC is expected to contribute approximately $130 to $138 million in adjusted revenue for the remainder of calendar year 2025, with an estimated adjusted EBITDA of $17 to $18 million [5]. - The adjusted diluted earnings per share from CEC are projected to be around $0.22 to $0.24 [5]. CEO Remarks - The CEO of Sterling expressed excitement about the acquisition, highlighting it as a milestone in the company's growth strategy and emphasizing the potential for delivering faster and more efficient project solutions [2].