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Great lakes dredging jobs12/25/2023 ![]() In recent decades, the company has focused primarily on its dredging operations. ![]() Revenues in 2005 totaled $423.4 million, and, while the company generated a modest $12.7 million operating profit, hefty interest costs and other factors dragged net results to an $6.9 million loss. In the last week of 2006, the deal closed, and Great Lakes' shares began trading on the Nasdaq stock market. There things stood until last summer, when Madison Dearborn announced a plan to merge Great Lakes with a publicly traded shell company, Aldabra Acquisition Corp. ![]() And, in 2003, that owner sold the heavily leveraged company to Madison Dearborn Partners, a Chicago-based private-equity company, for $340 million. In time, Blackstone sold the dredging company to another private investment group.
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