Grand Forks Construction Firm Set for $454 Million Sale in 2025
Strata Corporation is on track for a major acquisition by Knife River Corporation, valued at $454 million, expected in 2025
Grand Forks, North Dakota, Strata Corporation, Knife River Corporation, Construction
Grand Forks: So, here’s the scoop. Strata Corporation, a construction company based in Grand Forks, is gearing up for a big sale. They’re looking at a whopping $454 million deal with Knife River Corporation, which is also in the construction game and hails from Bismarck.
Knife River just announced they’ve got a deal in the works to buy Strata. This is a pretty big move for both companies. Knife River’s CEO, Brian Gray, is pretty optimistic about it, saying it’s going to be a great fit for them.
Strata has been around since 1910, starting out as Bradshaw Gravel Supply. They’ve grown a lot since then, with over 75 locations across North Dakota and northwestern Minnesota. They’ve got ready-mix plants, asphalt plants, and a whole division for asphalt paving and concrete work.
On the flip side, Knife River has been in the game since 1917 and operates in 14 states now. They even went public this year, trading on the New York Stock Exchange, and they’re valued at about $5.79 billion.
Tony Spilde, Knife River’s communications director, shared that they’re really excited about this potential acquisition. James Bradshaw, Strata’s chairman and CEO, also thinks it’s a great match. He’s been with Strata for 46 years, so he knows a thing or two about the company.
He mentioned that stepping away from a family business is tough, but he believes Strata and Knife River share the same values. They both prioritize their teams and operate with integrity, which is super important.
Until the deal is finalized, both companies will keep running separately. So, we’ll have to wait a bit longer for more details. But it looks like a promising future for both Strata and Knife River!