Granite Construction (Granite) subsidiary Centennial Aggregate Inc. has acquired Cinderlite Trucking Corporation (Cinderlite), a leading construction materials, landscape supply, and transportation company in Carson City, Nevada, USA.
“I am happy to announce the acquisition of Cinderlite,” says Granite President and CEO Kyle Larkin. “It is a great construction materials business that is aligned with our home market strategy in the busy northern Nevada construction landscape. This acquisition shows that we remain focused on identifying transactions that will immediately contribute to the bottom line.”
Founded in 1986, Cinderlite operates five aggregate yards and one recycling yard in and around Carson City. The company has a robust aggregate transportation business with a well-established fleet of trucks and drivers.
Centennial Aggregate Inc.’s acquisition increases Granite’s materials reserves, adding approximately 100 million tons of aggregate resources and an annual production volume of roughly 975,000 tons. It also complements Granite’s existing operations in northern Nevada.
“Like our recent acquisitions of Warren Paving and Papich Construction, the Cinderlite transaction is in line with our capital allocation strategy and supports sustainable, long-term value creation for our shareholders,” explains Granite CFO, Staci Woolsey. “We will continue to leverage our cash generation and credit facility to execute high-quality acquisitions.”
