Granite completes Lametti & Sons acquisition in US

Granite Construction has acquired certain assets of US-based cured-in-place pipe (CIPP) rehabilitation company Lametti & Sons.

The deal covers assets and equipment of Lametti’s CIPP business and strengthens Granite’s position in the water and wastewater market.

Granite president and CEO James Roberts said: “We are excited about the opportunities that this acquisition provides as we continue to build our capabilities and position ourselves as a national leader in the water and wastewater markets.

“This is another step in the execution of our strategic plan which includes strong organic growth through our core business lines, acquisitions in the water and wastewater markets, and additional growth and geographical diversification in our vertically integrated business.”

Lametti offers Inliner CIPP product installation services to customers.

The acquisition of Lametti will become the Minnesota Area office of Granite’s wholly-owned subsidiary Granite Inliner Division.

It also covers operations based in Orleans, Indiana, along with 17 offices and more than 800 employees in the US and Canada.

Granite Inliner vice-president Denise McClanahan said: “We are thrilled to formally welcome Lametti’s CIPP operations into the Granite Inliner family.

“Lametti has been an integral part of our Inliner CIPP network for 23 years and I am confident that this transition will be seamless for our customers and employees.”

Granite Construction offers transportation, water infrastructure and mineral exploration markets through its offices and subsidiaries across the US.

In February this year, Granite received a $21m joint venture contract from the City of Atlanta for the Sewer Group Three Rehabilitation, Contract D project in Atlanta, Georgia.