Knife River to Expand Footprint With $454M Strata Acquisition [Yahoo! Finance]
Knife Riv Holding Co. (KNF)
Company Research
Source: Yahoo! Finance
construction materials and contracting services provider operating in North Dakota and northwestern Minnesota. The purchase price of $454 million is based on Strata's estimated 2025 adjusted EBITDA, indicating a multiple in the high single digits. The transaction is expected to close in the first half of 2025, subject to regulatory approvals and standard closing conditions. KNF plans to fund the acquisition using cash on hand and proceeds from issuing long-term debt. Shares of KNF gained 5.7% during Friday's trading session and 2.6% in the after-hour trading session. Acquisition to Strengthen KNF's Central Segment Growth Strata, founded in 1910, is a vertically integrated company with more than 75 aggregates locations, extensive reserves and rail assets to support its market reach. The company operates 28 ready-mix plants, three asphalt plants and a contracting division focused on asphalt paving and concrete construction. Headquartered in Grand Forks, ND, Strata has grown fr
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KNF
News
- Grand Forks construction company poised for $454 million sale in 2025 [Yahoo! Finance]Yahoo! Finance
- Knife River Enters Definitive Agreement to Acquire Strata Corporation [Yahoo! Finance]Yahoo! Finance
- Knife River Enters Definitive Agreement to Acquire Strata CorporationBusiness Wire
- Knife River Co. (NYSE: KNF) had its price target raised by analysts at Oppenheimer Holdings Inc. from $110.00 to $120.00. They now have an "outperform" rating on the stock.MarketBeat
- Is First Trust Mid Cap Core AlphaDEX ETF (FNX) a Strong ETF Right Now? [Yahoo! Finance]Yahoo! Finance
KNF
Earnings
- 11/4/24 - Miss
KNF
Sec Filings
- 12/26/24 - Form 8-K
- 11/4/24 - Form 10-Q
- 11/4/24 - Form 8-K
- KNF's page on the SEC website