It fits well into our strategy of growing the Company through opportunities that are complementary to our skill sets. Jon Berger, Chief Executive Officer, stated, We are veryĮxcited about the Matteson acquisition. Million to the Great Lakes year-end 2010 backlog. The Matteson transaction will add approximately $25 In 2011, the Matteson acquisition is expected to add between $35 million and $40 million to Great Lakes revenue with EBITDA margins in the mid-to-high 20% range. Matteson is expected to generate over $40 million of revenue with approximate EBITDA margins between 32% andģ6% for calendar year 2010. Matteson was named the Outstanding Contractor of the Year in 20 by United States Army Corps of Engineers St. In addition to long standing relationships with stateĭepartments of transportation, the department of natural resources, and numerous prime contractors and engineering firms, L.W. Services provided by Matteson include river and lake maintenance dredging, inland levee construction and repair, and environmental and habitat restoration. In addition to the United States Army Corps of Engineers, L.W. Great Lakes believes by combining the skills, equipment and resources of the companies, new project opportunities and growth Habitat restoration, Matteson is a highly respected contractor serving the upper Midwest, and the Mississippi river system. With expertise in dredging, marine construction, environmental and
has one of the largest fleets of specialized portable dredging and earthmoving equipment on the inland river system. The acquisition will be funded with $37.5 million in cash and a seller note of $7.5 million.
(Matteson), a maintenance dredging, environmental dredgingĪnd levee construction company located in Burlington, IA, for $45 million. Oak Brook, Illinois January 3, 2011 - Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD), the largest provider ofĭredging services in the United States and a major provider of commercial and industrial demolition services, today announced it has acquired the assets of L.W. Katie Hayes, Investor Relations LAKES ACQUIRES L.W.
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