Source: WL Ross & Co. LLC, New York; CP staff
Odessa, Texas-based PB Materials Holdings Inc. (PMB) has closed on the assets of three Lone Star State peers in ready mixed concrete and sand & gravel. The combined plants, fleets and reserves of ARM Concrete and Kermit Concrete, both Lubbock, and WUUD Aggregate, Kermit, provide additional vertical integration throughout PBM’s west Texas and eastern New Mexico market footprint.
“The operations are a sound fit with our base in the Permian Basin and further allow PB Materials to provide high quality service and construction materials to our customers in the region,” says PBM CEO Christopher Crouch.
“The acquisition continues PB Materials’ strategy of acquiring strategic assets that position the business to capitalize on growth opportunities in the company’s end-markets,” adds Patrick Machir, PBM director and principal of the company’s majority owner, WL Ross. “The acquired operations will expand PBM’s ready-mix and aggregate capabilities, enhance its aggregate reserve position, and strengthen its ability to serve its customer base in the region.”