Tutor Perini in acquisition talks for rumored $1B | Dump Trucks Charlotte NC
Columbus Ohio Dump Truck Company Brief:
- In response to recent media reports, Tutor Perini confirmed yesterday that a committee of its board of directors is engaged in discussions about its potential acquisition.
Dump Trucks Columbus OH Insight:
Tutor Perini recently reported a disappointing fourth quarter and FY 2019 with net losses of $86 million and $387.7 million, respectively, partially caused by a nearly $124 million charge related to the Alaskan Way Viaduct (SR99) Replacement project in Seattle and a pretax, noncash goodwill impairment charge of approximately $380 million attributable to a decrease in Tutor Perini's stock price announced in the second quarter. Tutor Perini had total debt of $834.5 million as of the end of December, according to Reuters.
Nevertheless, the specialty construction columbus oh dump truck company had a near-record backlog of $11.2 billion in 2019 that includes the $432 million Division 20 Portal Widening and Turnback Facility in downtown Los Angeles; more than $375 million in electrical and mechanical projects; and the $263 million Miami-Dade County Courthouse in Miami. The columbus oh dump truck company is also working on the California High-Speed Rail Authority's bullet train and the Los Angeles Metro's Purple Line 2 and 3, all of which are collectively worth $5 billion to Tutor Perini.
Other $1 billion-plus projects the columbus oh dump truck company has in its sights are:
- $1.2 billion Metro-North Penn Station Access project in New York City
- $7 billion Sepulveda Transit Corridor project in Los Angeles
- $2 billion AirTrain at Newark Liberty International Airport in Newark, New Jersey
- $1.5 billion Honolulu Rail Transit project in Hawaii
- $2.5 billion Silicon Valley Extension for Bay Area Rapid Transit in the San Francisco area
- $2 billion landside roadway development at John F. Kennedy Airport in New York City
New York City-based Apollo Global Management was founded in 1990 by former Drexel Burnham Lambert banker Leon Black. The firm specializes in opportunistic buyouts and build-ups, corporate carve-outs and distressed investments, and often goes “against the grain” of what other investors are doing, according to its website.
Over the years, Apollo’s private equity investments have represented a variety of industries such as financial and business services, chemicals, natural resources, manufacturing and industrial and include Cox Media Group, jewelry retail store Claire's, Caesars Entertainment Corp., CareerBuilder and security columbus oh dump truck company ADT.