---
schema_version: "secwatch.filing_event.v1"
accession: "0000861459-25-000037"
form_type: "8-K"
ticker: "GVA"
cik: "0000861459"
company_name: "GRANITE CONSTRUCTION INC"
filed_at: "2025-08-06T23:59:59+00:00"
generated_at: "2026-05-17T20:15:58.814654+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000861459-25-000037
- form_type: 8-K
- ticker: GVA
- cik: 0000861459
- company_name: GRANITE CONSTRUCTION INC
- filed_at: 2025-08-06T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/861459/000086145925000037/0000861459-25-000037-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/861459/000086145925000037/gva-20250805.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000861459-25-000037
- JSON: https://secwatch.observer/filing/0000861459-25-000037.json
- Plain text: https://secwatch.observer/filing/0000861459-25-000037.txt

## Key facts
- Debt Financings
  GRANITE CONSTRUCTION INC incurred revolving credit of $600.0 million with Bank of America, N.A. at SOFR plus an applicable margin initially of 1.75%.
  - Instrument: revolving credit
  - Principal: $600.0 million
  - Counterparty: Bank of America, N.A.
  - Rate: SOFR plus an applicable margin initially of 1.75%
  - Event: incurrence
  source text: to, among other things, provide for (1) a $600.0 million senior secured revolving credit facility
  evidence_url: https://www.sec.gov/Archives/edgar/data/861459/000086145925000037/0000861459-25-000037-index.htm
- Debt Financings
  GRANITE CONSTRUCTION INC incurred term loan of $75.0 million with Bank of America, N.A. at SOFR plus an applicable margin initially of 1.75%.
  - Instrument: term loan
  - Principal: $75.0 million
  - Counterparty: Bank of America, N.A.
  - Rate: SOFR plus an applicable margin initially of 1.75%
  - Event: incurrence
  source text: credit facility (the “Revolver”), (2) a $600.0 million senior secured term loan (the “Initial Term Loan”) and (3) a senior secured term loan in an aggregate amount not to exceed $75.0 million (the “Delayed Draw Term Loan” and together with the Initial Term Loan, the “Term Loans”). The Delayed Draw Term Loan may be borrowed from the closing date of the A&R Credit
  evidence_url: https://www.sec.gov/Archives/edgar/data/861459/000086145925000037/0000861459-25-000037-index.htm
- Debt Financings
  GRANITE CONSTRUCTION INC incurred term loan of $600.0 million with Bank of America, N.A. at SOFR plus an applicable margin initially of 1.75%.
  - Instrument: term loan
  - Principal: $600.0 million
  - Counterparty: Bank of America, N.A.
  - Rate: SOFR plus an applicable margin initially of 1.75%
  - Event: incurrence
  source text: from the Sellers for $540.0 million, subject to customary closing adjustments (the “Transaction”). The purchase price was paid using a portion of the proceeds from a new $600.0 million senior secured term loan, as described further below. The Purchase Agreement contained customary representations, warranties and covenants made by each of the Sellers and the
  evidence_url: https://www.sec.gov/Archives/edgar/data/861459/000086145925000037/0000861459-25-000037-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.