McCarthy buying Castle Contracting

McCarthy Holdings Inc. will purchase fellow St. Louis firm, the $30 million Castle Contracting and its subsidiary CastleGPS, its first acquisition in more than 20 years.

Expected to close in October, the deal's terms were undisclosed, according to the St. Louis Business Journal.

McCarthy - which had 2013 revenue of $3.23 billion and locally has been involved with Mercy hospital work - said the deal would help the company expand by adding 3-D subsurface utility mapping and other services.

Read more from the St. Louis Business Journal.