M&A · Industrials · Heavy Construction Other Than Bldg Const - Contractors
Saltchuk Resources, Inc. to acquire Great Lakes Dredge & Dock Corp
Announced Feb 11, 2026 · Closed Apr 1, 2026
Deal value$1.50BEV $1.50B
Premium—To unaffected price
EV / Adj. EBITDA8.4x1.8x EV / Revenue
ConsiderationAll cash
Transaction
- Acquirer
- Saltchuk Resources, Inc.
- Target
- Great Lakes Dredge & Dock Corp (GLDD)
- Buyer type
- Strategic
- Offer price per share
- —
- Enterprise value
- $1.50B
- Status
- Closed Apr 1, 2026
Deal protections
- Break fee (target pays)
- $36.9M · 2.5%
- Reverse fee (buyer pays)
- —
- Go-shop
- No-shop
- Financing
- No financing condition
Advisors
- To the acquirer
- Evercore
- To the target
- Guggenheim
- Guggenheim fee
- $23.1M
Sector context · Industrials
- Comparable deals
- 95 in the prior 24 months
- Premium
- Sector median 37.0%
- EV / Adj. EBITDA
- 8.4x vs. 11.0x sector median
- Break fee
- 2.5% vs. 2.7% sector median
Timeline
- AnnouncedFeb 11, 2026
- Tender offerMar 4, 2026
- ClosedApr 1, 2026
Valuation · fairness opinions
Discounted cash flow$14.72$19.00
Trading comparables$10.83$18.90
Trading comparables$13.26$20.69
Trading comparables$12.17$22.94
Leveraged buyout$14.27$18.49
Implied value per Great Lakes Dredge & Dock Corp share by analysis, from Guggenheim.