Sources: Forterra Building Products, Irving, Texas; CP staff
Forterra Building Products has acquired one of the largest independents remaining in pipe and precast: Sherman-Dixie Concrete Industries, operating eight plants in Tennessee, Kentucky, Alabama and Indiana. It is the second major deal Forterra Building Products has closed since its early-2015 spinoff from Heidelberg Cement—following by four months the acquisition of Minnesota-based Cretex Concrete Products, with 17 pipe, precast and prestressed plants across the upper Midwest.
Formerly Hanson Building Products, Forterra will leverage Sherman-Dixie’s strong presence in the Southeastern United States to significantly expand capacity and capabilities in an attractive and growing region. “Sherman-Dixie is a positive and complementary addition to [our] team,” says Forterra CEO Jeff Bradley. “As the leading manufacturer of concrete pipe and precast products in the U.S., we are confident Sherman-Dixie’s market leadership, strong customer relationships and high-quality suite of precast concrete solutions will extend our track record of market excellence.”
“Throughout [our] history, we have prided ourselves on our forward-thinking and ability to successfully navigate changing market dynamics,” adds Sherman-Dixie CEO Pete DeLay. “As needs for quality infrastructure expand, joining forces with Forterra represents a significant growth opportunity for us. Our companies share deep respect for each other based on our common values of safety, quality and service, as well as a strong commitment to our employees.”
The Tennessee, Alabama, Kentucky and Indiana operations will be part of the Forterra Pipe and Precast business and soon adopt the Forterra brand, which was established in late 2015 to replace the Hanson Building Products banner. The Sherman-Dixie plants and staff join 118 facilities and 5,400-plus colleagues under Forterra operations in the United States, Canada and the United Kingdom.