Granite Construction acquires Slats Lucas and Warren Paving for $540M, funded by $600M term loan

GRANITE CONSTRUCTION INC

Acquired all equity of Slats Lucas (MS LLC) and Warren Paving (MS corp) for $540M, subject to customary closing adjustments.
Purchase financed with a new $600M senior secured term loan under a Fifth Amended and Restated Credit Agreement.
New credit facility includes a $600M revolver and up to $75M delayed-draw term loan; matures August 5, 2030.
Sellers include LMS of Hattiesburg, L.P., Steven M. Warren, and Melissa W. McGee; no material litigation disclosed.
Representation and warranty insurance policy obtained; Sellers' indemnification subject to escrow and limitations.

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