Source: Summit Materials, Washington, D.C.
Gearing up to be as active a U.S. construction materials deal maker in 2011 as it was in 2010, Summit Materials announced just prior to the July 4 holiday weekend the closing of deals to acquire six properties that would serve to establish a footprint in western Colorado and further strengthen the company’s aggregates positions in Missouri, Utah and its adjacent states.
Elam Construction, Inc., based in Grand Junction, Colorado, is an aggregates, asphalt and paving business with operations across the state’s Western Slope. Grand Junction Concrete Pipe, Inc., is an aggregates, ready-mixed concrete, precast products and pipe distribution company, also based in Grand Junction and serving the Western Slope market. In conjunction with these acquisitions, Lane Bybee and Chase Vernieuw, both formerly with Oldcastle Materials, have joined Summit as President and CFO of the Colorado companies, respectively.
In addition, Summit completed four other acquisitions in its West and Central regions. Fischer Quarries, LLC, operates a quarry in Sedalia, Mo., while B&B Resources, Inc., is an aggregates and ready-mix concrete producer in Salt Lake City. Triple C Concrete, Inc., is an integrated ready-mixed concrete, aggregates, and precast products business located in southern Idaho. Finally, Wind River Materials, LLC (formerly Enercrest Products, Inc.), produces aggregates and ready-mix concrete in southwest Wyoming. Combined, the six units produce more than 2 million tons of aggregate, 500,000 yd. of ready-mixed and 200,000 tons of asphalt, while contributing about 65 million tons of aggregate reserves to the Summit portfolio.
Several of these acquisitions complement ready mixed and aggregate properties Summit added last year—Con-Agg of MO in Columbia, Mo., and Altaview Concrete Inc., which operates an aggregate business as well as three batch plants outside Salt Lake City. The former operates a ready mixed and aggregate business, while Con-Agg is strategic to Continental Cement Co., Hannibal, Mo., in which Summit took a majority position in mid-2010, shortly after a major capacity expansion—from 700,000 to 1.25 million-plus tons/year—at its Hannibal, Mo., mill.