Midas Companies Acquires Culy Contracting, Inc.

Merger creates the market leading provider of manhole rehabilitation services and greatly increases geographical reach. Midas Companies (“Midas”) announced today that it has acquired Culy Contracting, Inc. (“Culy”), a leading underground utilities company located in Winchester, Indiana with operations in many complementary markets within the Midwest and East Coast. Culy specializes in pipe infrastructure services related to water, stormwater and wastewater in both government and industrial settings. This merges well with Midas’s expertise in these areas and establishes the merged companies as the national leader of manhole rehabilitation. The acquisition also allows for growth and geographic diversification, increasing exposure to consent decree driven markets in Indiana, Ohio, Michigan, Kentucky and Tennessee as well as greater access to the Carolinas and Atlanta markets utilizing local labor resources.