Sterling Infrastructure acquires Professional Plumbers Group

Sterling Infrastructure announced that it has acquired Professional Plumbers Group headquartered in Wylie, Texas. PPG serves a range of residential home builders in the greater Dallas area and will join Sterling’s Building Solutions segment. Acquisition Highlights: Purchase price consists of a cash payment of $50M and an earnout opportunity contingent upon achieving future EBITDA targets; Annual revenues of $50M-$55M; Strong, accretive margin profile; Customary outsourced labor model; PPG provides all the major plumbing phases for new residential builds, expanding Sterling’s suite of residential services in the Dallas market to the next critical phase of the build once the slab is complete; Complimentary customer base with opportunity to cross-sell services.