Granite Completes Acquisition of Kenny Seng Construction to Expand Vertically-Integrated Home Market in Utah

Key Terms

vertically-integrated technical

A vertically-integrated company owns and manages multiple steps of its own supply chain—from sourcing raw materials to making products to selling them—rather than hiring others for those tasks. Like a bakery that grows its own wheat, mills the flour and runs the shop, this setup can cut costs, improve quality control and protect profit margins, but it also requires more investment and concentrates operational risk, which matters for evaluating long-term returns.

adjusted EBITDA margin financial

Adjusted EBITDA margin shows how much profit a company makes from its core operations, expressed as a percentage of its total revenue, after removing certain one-time or unusual expenses and income. It helps investors understand the company's true earning ability from regular business activities, making it easier to compare performance over time or with other companies. Think of it as measuring the efficiency of a business in turning sales into profits, excluding irregular adjustments.

aggregate production technical

Aggregate production is the total quantity of goods or materials a business or set of facilities produces over a given period, summed across all plants, lines or locations. Investors watch it like a simple traffic-count for a company: higher aggregate production can signal greater sales potential, economies of scale or inventory buildup, while declines may warn of weaker demand, capacity issues or rising per-unit costs.

measured and inferred resources technical

Measured and inferred resources are two levels of confidence in how much material—like minerals, oil or gas—is believed to exist at a site. Measured resources are quantities estimated from direct sampling and reliable data, while inferred resources are rougher estimates based on limited information and extrapolation. Investors care because the mix of measured versus inferred shows how certain the asset’s value and development cost are, like a detailed survey versus a rough sketch when planning a construction budget.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

WATSONVILLE, Calif.--(BUSINESS WIRE)-- Granite (NYSE: GVA) today announced that it has completed the acquisition of Kenny Seng Construction, strengthening Granite’s vertically-integrated construction and construction materials platform in Utah.

Acquisition Highlights

• Expands Granite’s vertically-integrated home market in Utah, enhancing its construction and materials presence in a high-growth region.
• Adds end-to-end construction capabilities, including earthwork and site preparation, concrete work, utility installation, project management, aggregate production and materials processing, and transportation.
• Provides exposure to resilient end markets including revenue from education infrastructure, civil infrastructure, and the private sector.
• Enhances Granite’s materials footprint, with a hard rock quarry and growth opportunities that include a potential sand and gravel pit, one million tons of annual production and approximately 45 million tons of reserves and measured and inferred resources.
• Attractive financial profile with approximately $150 million in annual revenue and an expected adjusted EBITDA margin in the high teens.

“We are excited to welcome the Kenny Seng Construction team to Granite,” said Kyle Larkin, Granite President and Chief Executive Officer. “Kenny Seng Construction is a highly complementary business that strengthens our vertically-integrated home market strategy in Utah. Their end-to-end service capabilities, strong position in education and civil infrastructure, and established materials platform align well with our focus on building durable, resilient businesses that create long-term value for our shareholders.”

About Granite

Granite is America’s Infrastructure Company™. Incorporated since 1922, Granite (NYSE: GVA) is one of the largest diversified construction and construction materials companies in the United States and a full-suite civil construction provider. Granite’s Code of Conduct and strong Core Values guide the Company and its employees to uphold the highest ethical standards. Granite is an industry leader in safety and an award-winning firm in quality and sustainability.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, statements regarding future events, opportunities, strategic plans, anticipated benefits of the acquisition, market conditions, growth, demand, capital allocation, and long-term value creation. These statements are based on current expectations and assumptions that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied. Such risks and uncertainties include, but are not limited to, economic conditions, integration risks, market demand, regulatory matters, labor availability, and other risks detailed in Granite’s filings with the Securities and Exchange Commission. Granite undertakes no obligation to update or revise any forward-looking statements, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260424994563/en/

Media:
Erin Kuhlman
Director, Communications
(831) 768-4111

Investors:
Wenjun Xu
Investor Relations
(831) 761-7861

Source: Granite