Legato II, a Nasdaq listed special purpose acquisition company with approximately $280 million in its trust account, and Southland Holdings, a leading provider of specialized infrastructure construction services, jointly announced on May 25th 2022 that they have signed a definitive agreement for a business combination transaction which would result in Southland becoming a direct wholly-owned subsidiary of Legato II. Brian Pratt, Legato II’s current Chairman and former Chairman and CEO of Primoris Service Corporation, will serve as Chairman of Southland upon closing of the transaction. It is expected that at the time of the Business Combination, Legato II will change its name to “Southland Holdings, Inc.” The transaction is expected to close in the fourth quarter of this year.
Legato II went public in November 2021 with the intent to merge with a private company that has an enterprise value greater than $750 million. Legato II was focused on target businesses in the infrastructure, engineering and construction, industrial and renewables industries.