Denver-based Summit Materials recently closed bolt-on transactions for Day Concrete of Ardmore, Okla., and Superior Ready-Mix of Somerset, Ky. The producers are strategic to platform businesses, RK Hall Construction and Hinkle Contracting, serving the respective market areas of north Texas, Oklahoma and Arkansas, plus Kentucky.
Read MoreTag: Summit Materials
GCC, Martin Marietta, Summit deals clear CRH path to Ash Grove closing
Sources: U.S. Federal Trade Commission; CP staff
CRH Americas will consummate a $3.5 billion acquisition of Ash Grove Cement Co. by month’s end following a June 14 settlement resolving Federal Trade Commission charges that the deal violates antitrust law. Terms call for the Oldcastle Inc. parent company to sell a Three Forks, Mont., cement plant and quarry to GCC Americas; three Omaha, Neb., area sand & gravel sites to Martin Marietta Materials; plus, three quarries and two asphalt plants near Kansas City to Summit Materials. The settlement also contains two three-year provisions: It grants GCC an option to use two Three Forks-fed CRH terminals in Alberta; and, holds that CRH, at GCC’s option, will purchase cement from the mill for distribution in Canada.
Read MoreSummit Materials closes on Day Concrete, Superior RM
Sources: Summit Materials Inc., Denver; CP staff
In a review of first quarter financials reflecting weather-hampered aggregates, cement and concrete shipments, Summit Materials notes the recent closing of two bolt-on transactions consummated in April: Day Concrete of Ardmore, Okla., and Superior Ready-Mix of Somerset, Ky. The producers are strategic to platform businesses, RK Hall Construction and Hinkle Contracting, serving the respective market areas of north Texas, Oklahoma and Arkansas, plus Kentucky.
Read MorePRODUCERS – APRIL 2018
Five Cemex USA ready mixed plants in the San Francisco Bay Area have earned Concrete Sustainability Council (CSC) responsible sourcing certification following an audit of environmental, social, and governance practices by SGS, an independent, third-party registrar.
Read MorePRODUCERS – MARCH 2018
Summit Materials has acquired Metro Ready Mix in Salt Lake City, along with Price Construction Co., a west Texas aggregates and asphalt producer and contractor and Mertens Construction Co., a central Missouri aggregates producer. At $120 million combined, the early-2018 deals strengthen the integrated producer’s platform businesses Kilgore Cos., West Valley City, Utah; Troy Vines Inc., Midland, Texas; and, ConAgg of Missouri.
Read MorePRODUCERS – FEBRUARY 2018
Cemex USA and Rinker Materials veteran Karl Watson Jr. has joined Denver-based Summit Materials as executive vice president and chief operating officer, succeeding Douglas Rauh. He arrives at the ready mixed, cement, aggregates and asphalt producer with 25-plus years in construction materials, most recently serving as president of Martin Marietta Materials’ Cement & Southwest Ready Mix business.
Read MoreSummit closes Metro RM of Utah and companion Missouri, Texas deals
Sources: Summit Materials, Denver; CP staff
Summit Materials has opened 2018 acquiring Metro Ready Mix in Salt Lake City; Price Construction Co., a west Texas aggregates and asphalt producer and contractor; and, Mertens Construction Co., a central Missouri aggregates producer. At $120 million combined, the deals strengthen the integrated producer’s platform businesses Kilgore Cos., West Valley City, Utah; Troy Vines Inc., Midland, Texas; and, ConAgg of Missouri, Columbia.
Read MoreSummit Materials enlists K. Watson Jr. for EVP, COO post
Sources: Summit Materials Inc., Denver; CP staff
Cemex USA and Rinker Materials veteran Karl Watson Jr. has joined Summit Materials as executive vice president and chief operating officer, succeeding Douglas Rauh. He arrives at the ready mixed, cement, aggregates and asphalt producer with 25-plus years in construction materials, most recently serving as president of Martin Marietta Materials’ Cement & Southwest Ready Mix business.
Read MorePRODUCERS – NOVEMBER 2017
Denver-based Summit Materials, Inc. has begun a search for a successor to Executive Vice President and Chief Operating Officer Douglas Rauh, who will leave the aggregate and ready mixed producer at year end. In the interim, Executive Vice Presidents Damian Murphy (East Segment), Shane Evans (West Segment) and Tom Beck (Cement Segment) will report directly to Summit CEO Tom Hill.
Read MoreSummit Materials inks deals for Everist Materials, Razorback Concrete
Sources: Summit Materials Inc., Denver; CP staff
Summit Materials will broaden its Rocky Mountain and South Central region ready mixed concrete, aggregate and asphalt market footprint with the acquisition of Everist Materials LLC in Silverthorne, Colo., and Razorback Concrete Co. in West Memphis, Ark. Scheduled for closing before the end of February, the transactions enable Summit to expand its integrated, materials-based model in growing markets, notes CEO Tom Hill.
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