Allegiance Capital Corporation Facilitates Environmental Contracting Acquisition

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Allegiance Capital Corporation, a Dallas-based private M&A investment bank specializing in the lower middle market, announced today that it has facilitated the acquisition of its client Terra Contracting, LLC, by Great Lakes Dredge & Dock Corporation. Allegiance Capital Corporation acted as the exclusive financial advisor to Terra Contracting, LLC.

Terra Contracting at work on Kalamazoo River Superfund site

Great Lakes CEO Jon Berger - “The Terra acquisition fits our strategic vision to gain a stronger foothold in the environmental remediation market.

Allegiance Capital Corporation, a Dallas-based private M&A investment bank specializing in the lower middle market, announced today that it has facilitated the acquisition of its client Terra Contracting, LLC, by Great Lakes Dredge & Dock Corporation. Allegiance Capital Corporation acted as the exclusive financial advisor to Terra Contracting, LLC.

Headquartered in Kalamazoo, MI, Terra Contracting, LLC is a premier environmental contracting company that provides exceptional environmental services to clients throughout the United States. Terra offers a wide range of services that include soil, water and sediment remediation; 24-hour environmental response; industrial cleaning; municipal services; abatement services; hazardous waste removal; and other related services. Terra has developed particular expertise in the area of sediment removal and remediation on major river projects.

“Allegiance Capital was pleased to represent Terra Contracting, LLC in this transaction. There are powerful synergies in combining these two fine companies and we see these as a winning strategy for everyone,” commented John R. Sloan, Vice Chairman at Allegiance Capital Corporation.

In the press release announcing the acquisition, Great Lakes CEO Jon Berger stated, “The Terra acquisition fits our strategic vision to gain a stronger foothold in the environmental remediation market. Terra will broaden our demolition segment with additional services and expertise as well as expand our footprint in the Midwest. Terra reinforces our efforts to develop relationships with larger industrial and governmental clients. Additionally, our rivers & lakes operations can leverage Terra's environmental remediation focus to accelerate its participation in the environmental dredging market.”

Terra is expected to generate approximately $45 million of service revenue with 15% EBITDA margins in 2013, while also generating approximately $20 million of pass through transportation and disposal revenue. Terra will add approximately $20 million to Great Lakes' year-end 2012 backlog excluding project option opportunities.

Allegiance Capital Corporation is currently involved in several engagements with other oil field services, environmental and wastewater companies. To view a list of Current Engagements, visit http://www.AllCapCorp.com. For information on selling a business, call 214.217.7750.

About Terra Contracting, LLC
Headquartered in Kalamazoo, MI, Terra employs approximately 200 engineering, operations and administrative staff and serves customers in more than thirty states in the environmental, infrastructure, energy, industrial, transportation, waste water and construction sectors. Terra's services include the removal and remediation of contaminated sediment, soil and groundwater, superfund site clean-ups, hazardous waste removal and brownfield site restoration, facility and equipment decontamination and decommissioning, tank cleaning, hazardous materials abatement, emergency response services, and municipal utility, sewer and wastewater infrastructure maintenance, inspection and refurbishment. For more information go to: http://www.terracontracting.net.

About Great Lakes Dredge & Dock Corporation
Great Lakes Dredge & Dock Corporation is the largest provider of dredging services in the United States and the only U.S. dredging company with significant international operations. The Company is also one of the largest U.S. providers of commercial and industrial demolition services primarily in the Northeast. The Company owns a 50% interest in a marine sand mining operation in New Jersey that supplies sand and aggregate for road and building construction and a 50% interest in an environmental service operation with the ability to remediate soil and dredged sediment treatment. Great Lakes owns and operates the largest and most diverse fleet in the U.S. industry, comprised of over 200 specialized vessels.

About Allegiance Capital Corporation
Allegiance Capital Corporation is an investment bank specializing in financing and selling businesses in the lower middle market. Allegiance Capital Corporation was recently named to American City Business Journal’s distinguished list of Who’s Who in Energy 2012, in addition to being named third on the list of 2011 Largest Investment Banking Firms in North Texas (Dallas Business Journal). Allegiance Capital Corporation has won multiple awards recognizing the value it delivers to clients. Examples include: 2009 Dealmaker of the Year (Dallas Business Journal), 2008 Boutique Investment Bank of the Year (M&A Advisor), and 2006 Investment Bank of the Year (Dallas Business Journal). Subscribe to the Capital Ideas blog by visiting: http://www.allcapcorp.com/blog. Follow Allegiance Capital Corporation on LinkedIn and Twitter: @ALLCAP.

Media Contact:
Bruce Condit
Vice President – Director Public Relations
Allegiance Capital Corporation
214.217.7746
bcondit(at)allcapcorp.com

Alternate Contact:
John R. Sloan
Vice Chairman
Allegiance Capital Corporation
214-217-7753
jsloan(at)allcapcorp.com

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