Sterling Infrastructure agrees to buy CEC Facilities assets for $505 million
Sterling Infrastructure and a subsidiary signed an agreement on June 16, 2025, to acquire substantially all assets of CEC Facilities Group, LLC and related entities, for aggregate consideration of $505 million. The deal is expected to close in the third quarter of 2025, subject to regulatory waiting periods and other closing conditions, and it would add a business that provides electrical, mechanical and technological design, construction, installation and maintenance services.
Key points
- Consideration: $450 million in cash, subject to adjustment, plus 285,275 Sterling common shares valued at $55 million
- Up to $80 million in additional earn-out payments, tied to operating income thresholds for periods starting January 1, 2026, and for 2029
- Closing requires expiration or termination of the Hart-Scott-Rodino waiting period; the company said it cannot give assurance the deal will close
- Shares issued to sellers carry lock-ups of 12 months (25%) and 18 months (remainder)
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 12:57 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on June 18, 2025.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.