Granite completes sale of Inliner business for $159.7M; repurchases $18.5M in stock

GRANITE CONSTRUCTION INC

Closed sale of trenchless and pipe rehabilitation business (Inliner) to Inland Pipe Rehabilitation for $159.7 million.
Proceeds to be used for core civil construction/materials growth, debt reduction, and share repurchases.
Spent $18.5 million to repurchase 611,000 shares in March 2022; plans further opportunistic repurchases.
Sale is part of strategic plan focusing on core competencies; also expects to sell Water Resources and Mineral Services businesses.
Advisors: Perella Weinberg and Shearman & Sterling for Granite; Houlihan Lokey and Jones Day for buyer.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.