Granite Acquires Additional Trenchless Rehabilitation Assets and Expertise

Strengthens Position in Water and Wastewater Market

WATSONVILLE, Calif.--(BUSINESS WIRE)-- Granite Construction Incorporated (NYSE: GVA) announced today that it
has further strengthened its position in the water and wastewater market
by acquiring certain assets of Lametti & Sons, Inc. (“Lametti”), a
Minnesota-based company with expertise in cured-in-place pipe (CIPP)
rehabilitation and trenchless renewal. Lametti is one of the original
certified installers of the Inliner® CIPP product. As part of this
transaction, Granite acquired assets and equipment related to Lametti’s
CIPP business.

“We are excited about the opportunities that this acquisition provides
as we continue to build our capabilities and position ourselves as a
national leader in the water and wastewater markets,” said Granite
President and Chief Executive Officer James H. Roberts. “This is another
step in the execution of our strategic plan which includes strong
organic growth through our core business lines, acquisitions in the
water and wastewater markets, and additional growth and geographical
diversification in our vertically integrated business.”

“We are thrilled to formally welcome Lametti’s CIPP operations into the
Granite Inliner family,” said Vice President of Granite Inliner, Denise
McClanahan. “Lametti has been an integral part of our Inliner® CIPP
network for 23 years and I am confident that this transition will be
seamless for our customers and employees.”

This acquisition will become the Minnesota Area office of the Granite
Inliner Division, a wholly-owned subsidiary of Granite Construction
Incorporated, which includes operations based in Orleans, Indiana as
well as 17 offices and more than 800 employees in the U.S. and Canada.

About Granite

Through its offices and subsidiaries nationwide, Granite Construction
Incorporated (NYSE: GVA) is a full-suite provider in the transportation,
water infrastructure and mineral exploration markets. Granite, America’s
Infrastructure Company, is an award-winning firm in safety, quality and
environmental stewardship, and has been honored as one of the World’s
Most Ethical Companies by Ethisphere Institute for ten consecutive
years. Granite is listed on the New York Stock Exchange and is part of
the S&P MidCap 400 Index, the MSCI KLD 400 Social Index and the Russell
2000 Index. For more information, visit,
and connect with Granite on LinkedIn,
and Instagram.


Jacque Fourchy, 831-761-4741



Botoff, 831-728-7532


Source: Granite Construction Incorporated