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ACQUISITIONS (Tables)
 9 Months Ended
Sep. 30, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Schedule of Fair Value Consideration Transferred Sterling completed the CEC Acquisition for a purchase price of $560,778, net of cash acquired, detailed as follows:
Cash consideration transferred, net of cash acquired$444,760 
Equity consideration transferred (285 shares at $278.53 per share(1))
79,458
Earn-out (2)
39,194
Estimated working capital adjustment(2,633)
Total fair value of consideration$560,778 
(1) Sterling’s closing stock price on August 29, 2025.
(2) The earn-out arrangement requires the Company to pay up to $80,000 based upon CEC’s achievement of certain operating income targets.
Schedule of Preliminary Purchase Price Allocation
The following table summarizes our preliminary purchase price allocation at the acquisition closing date, net of cash acquired:
Net tangible assets:
Accounts receivable$73,549 
Contract assets38,775 
Other current assets25,862 
Property and equipment, net15,363 
Other non-current assets, net26,243 
Accounts payable(45,460)
Contract liabilities(51,698)
Current portion of long-term lease obligations(3,860)
Other current and non-current liabilities(49,895)
Total net tangible assets28,879 
Identifiable intangible assets227,700 
Goodwill304,199 
Total fair value of consideration transferred$560,778 
The purchase price allocation for the CEC Acquisition is preliminary. Amounts provisionally assigned to working capital, identifiable intangible assets, and certain other assets and liabilities are subject to change as we complete our valuation procedures. We expect to finalize the allocation as soon as practicable within the measurement period, which will not exceed one year from the acquisition date. Measurement‑period adjustments, if any, will be recorded in the period they are identified and may affect the amounts recognized for assets acquired, liabilities assumed, goodwill, and the intangible amortization in our results of operations.
Schedule of Identifiable Intangible Assets Acquired The estimated useful lives for intangible assets were determined based upon the remaining useful economic lives of the intangible assets that are expected to contribute directly or indirectly to future cash flows.
Weighted Average Life (Years)September 1, 2025
Fair Value
Customer relationships25$156,200 
Trade names2571,500 
Total$227,700 
Schedule of Proforma Information This pro forma financial information has been presented for illustrative purposes only and is not necessarily indicative of the operating results that would have been achieved had the pro forma events taken place on the dates indicated. Further, the pro forma financial information does not purport to project the future operating results of the combined company following the CEC Acquisition.
Three Months Ended September 30,Nine Months Ended September 30,
2025202420252024
Pro forma revenue$752,684 $684,971 $1,985,517 $1,852,060 
Pro forma net income attributable to Sterling common stockholders$87,206 $62,755 $207,187 $144,885