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LUNDA CONSTRUCTION SOLD TO CALIFORNIA FIRM
Friday, June 3rd, 2011 -- 9:52 am
Posted by Riley Hebert-News Director
Black River Falls-based Lunda Construction has been sold.
Tutor Perini Corporation of Sylmar, California says it is acquiring Lunda Construction Co.
The purchase price for Lunda is expected to be $153.5 million, consisting of $131.8 million in cash at closing and $21.7 million in a note payable in five years.
The deal is expected to close on July 1.
According to the Milwaukee Journal Sentinel’s on-line edition, Lunda will continue to operate under the current company name and will continue to be managed by its current senior management team, with Larry Lunda remaining as president and CEO.
Tutor Perini, known in California for building some of the biggest public projects in that state, has more than 3,000 employees.
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