Sources: Big 7 Ventures, Danville, Calif.; CP staff
Big 7 Ventures, a private equity firm targeting industrial service and product investments, has closed on Elko, Nev.-based Modern Concrete Inc., a volumetric mixer fleet operator known for deliveries to isolated construction, mining and communications infrastructure sites. The producer serves an Interstate 80 corridor spanning one of the least populated areas in the West and harboring scant concrete batch plant capacity. In addition to conventional mixes, Modern Concrete offers onsite production of cellular concrete, plus aggregate and shotcrete material delivery. Operations will continue under current management, led by founder and President Scott Reutner, ensuring seamless service delivery and expansion into new markets.
“Our long history and proven track record of supporting great teams to build world-class businesses, coupled with financial commitment, puts Modern Concrete in a stronger position to act on opportunities that will help us achieve our goal,” says Big 7 Ventures Senior Partner Kurt Winter. “Modern Concrete’s exceptional product line, commitment to quality, and strong customer relationships make it an ideal fit for our portfolio.” The acquisition underscores Big 7 Ventures’ dedication to unlocking exceptional companies’ full potential for long-term success, he adds.