Advised on Sale of Company

Industrials

Sterling Construction Company, Inc.

Infrastructure services and solutions United States of America

Acquired 100% of Business Operations

Petillo Incorporated

Full service site work and heavy highway construction company United States of America

IMAP USA Advised Petillo Incorporated on Its Sale to Sterling Construction Company, Inc.

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.

Experts who worked on the transaction