Sources: U.S. Concrete Inc., Euless, Texas; CP staff
Through its west Texas subsidiary, Ingram Concrete LLC, U.S. Concrete has closed on certain ready mixed production assets of Colorado River Concrete, L.P., Cindy & Robin Concrete, L.P. and E&R Artecona Family Limited Partnership (collectively “CRC”) for $2.4 million in cash, plus assumption of approximately $1.9 million in interest-bearing debt.
The company used cash on hand to fund the acquisition, which includes ready mixed plants in Stephenville, Aledo, Glen Rose and Granbury, Texas. They will be assimilated into Ingram and U.S. Concrete’s other Texas platform company, Redi-Mix, covering the Dallas-Ft. Worth market. The CRC deal was effected shortly after U.S. Concrete sold its California precast operations with an eye toward concentrating on its core ready mixed business.