Atlanta-based Quikrete Holdings Inc. was on track to acquire all outstanding shares of Contech Engineered Solutions, LLC common stock in a merger agreement the companies’ boards approved in October.
|The Keystone brand reinforces Quikrete and Pavestone hardscape market positions. Founded in 1986, Keystone Retaining Wall Systems was a forerunner in the market, targeting decorative and structural applications with units that could be molded on conventional concrete masonry machinery. PHOTO: Keystone Hardscapes|
“We are pleased to welcome Contech, a leader in infrastructure solutions, to the Quikrete family,” says President and Chief Operating Officer Will Magill. “The acquisition aligns two great companies and will significantly advance our growth strategy.”
“Both Quikrete and Contech have pursued successful strategies to grow their respective businesses. We are highly complementary organizations and our combined value proposition will deliver competitive advantages for customers,” adds Contech CEO Mike Rafi.
The transaction brings Quikrete—the leader in packaged concrete and a major hardscape unit player through its Pavestone business—a broad concrete, steel and HDPE product line, plus related services, for civil engineering markets. West Chester, Ohio-based Contech maintains a portfolio around six application areas: Bridges, Erosion Control, Pipe, Rehabilitation & Reline, Retaining Walls and Stormwater Management. One of its top brands, Keystone Hardscapes, was among the first segmental retaining wall offerings in North America, and aligns Quikrete and Pavestone programs.
Along with Pavestone and namesake packaged materials, Quikrete has a strong foothold in residential and commercial markets through Custom Building Products, Daubois, QPR, Spec Mix and Target Technologies subsidiaries. Quikrete products are manufactured and distributed from nearly 150 facilities in the U.S., Canada, Puerto Rico and South America.