BMC Enterprises becomes U.S. gateway for U.K. operator Breedon

Sources: Breedon Group Plc, Derby, United Kingdom; CP staff

London Stock Exchange-traded aggregate, cement, concrete and masonry producer Breedon Group plans an early-March closing of a $300 million deal for St. Louis-based BMC Enterprises Inc. The transaction affords the suitor a North American market platform with 44 ready mixed concrete and five precast plants, plus five crushed stone and seven sand & gravel operations—the latter representing upward of 450 million tons of reserves. BMC Enterprises spans a St. Louis ready mixed concrete flagship, Breckenridge Material Co., founded in 1925, plus satellite businesses—most with local market brands—across Missouri, Arkansas and Illinois. The company has significantly expanded during the past decade, closing 20 acquisitions involving aggregate, ready mixed and precast production assets. 

A late-2023 BMC fleet addition tapped for preliminary duty at the National Mixer Driver Championship, Nashville.

Terms of the deal call for BMC President and CEO Nathan McKean, principal, to transition to a non-executive advisory role for Breedon’s North America business. Separately, he is on track for election later this month to a one-year term as National Ready Mixed Concrete Association chairman. BMC Chief Operating Officer Andy Arnold will succeed McKean, while CFO John Crumrine and Chief HR Officer Mark Jacobs maintain their positions under new ownership.  

“The acquisition represents a compelling opportunity to launch our third platform in the USA,” says Breedon CEO Rob Wood, a (pre-Heidelberg Materials) Hanson Plc veteran overseeing a company with United Kingdom and Ireland market stakes. “BMC has an excellent performance track record over a sustained period and is positioned in an attractive market for future growth. As a high-quality aggregates and concrete business that has grown at pace, organically and through acquisitions, with a strong management team and deep local knowledge, BMC’s culture and values are fully aligned with the Breedon business model. The acquisition is expected to be earnings enhancing for shareholders while allowing us to maintain a conservative and flexible balance sheet to pay dividends and make further bolt-on acquisitions across each of our platforms as opportunities arise.”