Infrastructure Company Acquires Site Development Firm for Data Centers and Mines, Targeting Northwest and Texas Simultaneously

Sterling Infrastructure, Inc. (NASDAQ: STRL) announced on June 9 the completion of its acquisition of Stone Ridge Contracting, a non-union field development firm based in Pocatello, Idaho. Stone Ridge will be integrated into Sterling’s E-Infrastructure Solutions division to expand the company’s footprint in the Pacific Northwest and Texas. Stone Ridge provides field development services in high-growth sectors such as data centers, mining, and industrial infrastructure, operating across Idaho, Oregon, North Dakota, Washington, and Texas. The acquired business is expected to generate annual revenues of $180 million to $200 million by 2026 (approximately KRW 230 billion to KRW 260 billion) with mid-teens EBITDA margins. Sterling plans to update its 2026 guidance when it reports second-quarter results. The purchase consideration combines cash and common stock, includes performance-based earn-outs through year-end 2031, and retains the existing management team.

In early May, Sterling Infrastructure reported first-quarter 2026 results that significantly exceeded market revenue and earnings expectations and subsequently raised its full-year 2026 guidance. Leading brokerages—such as Keefe, Bruyette & Woods and Oppenheimer—have since increased their price targets and earnings estimates for the stock. Driven by strong demand for mission-critical infrastructure like AI data centers and semiconductor fabs, the company’s total backlog surpassed $5 billion as of Q1 2026.

Sterling Infrastructure is an infrastructure services provider offering field development and construction services nationwide. Its business is organized into three core segments—electronic infrastructure, transportation infrastructure, and building solutions—and includes projects such as data centers, e-commerce logistics facilities, manufacturing and warehouse sites, roads, and airports. The E-Infrastructure Solutions segment, which benefits from growing investments in data centers and power infrastructure, is the company’s fastest-growing and most profitable division.