Aug. 13, 2024 – Granite Construction continues to grow its business further from its West Coast base. The company completed the acquisition of Dickerson & Bowen Inc. (D&B), a regional aggregates, asphalt and highway construction company serving central and southern Mississippi. The acquisition is a highly complementary bolt-on to the company’s 2023 acquisition of Lehman-Roberts Company/Memphis Stone & Gravel, and it builds on Granite’s footprint in the Southeast serving as a growth platform in the attractive Memphis metropolitan and Mississippi markets. “We are excited to complete this acquisition of an outstanding materials-focused business that expands our footprint in the Southeast,” said Kyle Larkin, Granite president and chief executive officer. “This purchase continues our ‘strengthen and expand’ capital allocation strategy by investing in vertically integrated construction and materials operations that have been our core business for over 100 years. I expect Granite to continue to grow both organically and through M&A as we continue to implement our strategy. Although we remain very selective, we are continually evaluating M&A opportunities within our existing footprint, as well as in new geographies.”
The acquisition was financed through cash on hand.