U.S. Concrete announced early last month closing on the operating assets and property of Olson Precast Co., Lathrop, Calif. This transaction continues
U.S. Concrete announced early last month closing on the operating assets and property of Olson Precast Co., Lathrop, Calif. This transaction continues the execution of our strategy to expand through quality acquisitions that strengthen our position in existing markets, says U.S. Concrete CEO Gene Martineau. [It] is an excellent addition to our four precast concrete plants in northern California, providing us an opportunity to gain exposure to a new group of customers through enhanced access to the Sacramento market and nearby areas of the California Central Valley region.
A $4.75 million cash deal, Olson becomes U.S. Concrete’s 10th precast operation and continues a round of company acquisitions that began with late-2005 additions to Dallas and Memphis ready mixed platform businesses. In May, U.S. Concrete effected deals for Kurtz Gravel and Pre-Cast Mfg. as bolt-on properties for its Michigan ready mixed and block business and Phoenix precast franchise. Potentially dwarfing those transactions is a deal for Texas’ Alberta Investments, whose ready mixed and aggregate production and trucking assets include Redi-Mix L.P. (Carrollton) and Ingram Enterprises (Brownwood). A closing on the Alberta businesses is anticipated this month, following a mid-May letter of intent U.S. Concrete signed with Alberta principals.