secwatch.observer — SEC 8-K summary
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Issuer:     Knife River Corp (KNF)
CIK:        0001955520
Form:       8-K
Filed at:   2025-03-10T23:59:59+00:00
Accession:  0001955520-25-000013
Event type: m_and_a
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 2.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Knife River completes $454M acquisition of Strata Corporation; financed with $500M Term Loan B
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- Purchase price $454M; 9x Strata's projected 2025 EBITDA; expected to be accretive to Knife River's Adjusted EBITDA margin within first year.
- Strata employs over 900 peak-season workers; owns 28 ready-mix plants, 3 asphalt plants, and over 30 years of aggregate reserves.
- Paddy Murphy, former Strata president, appointed president of Knife River's North Dakota operations.
- Acquisition funded with $500M Term Loan B facility; immaterial assets sold post-closing per plan.
- Knife River to update consolidated 2025 guidance when it reports Q1 2025 earnings.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1955520/000195552025000013/0001955520-25-000013-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1955520/000195552025000013/knf-20250307.htm
  HTML page:      https://secwatch.observer/filing/0001955520-25-000013

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer