Morgan Lewis Advises Keating Building Corporation on Acquisition by Perini
PHILADELPHIA, PA, January 15, 2009: Keating Building Corporation, the privately held construction, management, and design/build company, announced today that it has been acquired by Perini Corporation for $43 million in cash plus a portion of the operating results for 2009-2011. Perini, a leading building, civil construction, and construction management company, gains an immediate foothold in the Mid-Atlantic region and further leverages Keating's anticipated fiscal year 2008 revenues of approximately $425 million and $860 million project pipeline.
Keating Building Corporation will operate as a wholly owned subsidiary of Perini Corporation and will continue to be managed by its current senior management team. Morgan Lewis advised Keating in the transaction.
For more information about this transaction, please visit: http://news.prnewswire.com/ViewContent.aspx?ACCT=109&STORY=/www/story/01-15-2009/0004955753&EDATE=.
Richard B. Aldridge, Jared T. Zane, Matthew A. Levitsky, Paul A. Gordon, Colby W. Smith