Advised on Sale of CompanyIndustrials
Acquired 100% of Business Operations
Advised Petillo Incorporated (Petillo), a Specialty Site Development Company, on its sale to Sterling Construction Company, Inc. (NasdaqGS: STRL) (Sterling).
Petillo is a leading specialty site development solution provider in the Northeast and Mid-Atlantic. Founded in 1994 by owner and CEO Michael Petillo, Petillo has seen compound revenue growth from 2017 to 2021 of 29% through continued expansion of its geographic footprint, customer base, and service offerings. Petillo works within both the commercial construction and private construction sectors and focuses largely on e-infrastructure projects.
This strategic deal positions Sterling to be an industry leader in E-infrastructure specialty site development and expands its geographic footprint to cover blue chip e-commerce customers in all major East Coast markets. Petillo and Sterling have a strong cultural alignment and together will create one of the largest specialty site development companies in the U.S.
Sterling Construction, Inc. is a Texas-based, market-leading infrastructure services provider of E-infrastructure Solutions, Building Solutions, and Transportation Solutions. The company operates through a variety of subsidiaries and specializes in heavy civil infrastructure construction and infrastructure rehabilitation, as well as residential construction projects. The company operates in three primary business segments: Residential construction, Heavy Civil construction—including highways, bridges, and other civil infrastructure projects—and Specialty Services construction, which includes services such as site development for large, blue-chip companies in the e-commerce, data center, distribution center, warehousing, and energy, sectors.