New Enterprise enters Pennsylvania capital market in Hempt Bros. deal

Sources: New Enterprise Stone & Lime Co., New Enterprise, Pa.; CP staff New Enterprise Stone & Lime has acquired all the outstanding stock of Harrisburg, Pa.-based Hempt Bros. Inc., which operates two ready mixed concrete, three aggregate and four hot mix asphalt plants, plus a heavy civil construction business. The facilities are ideally situated between the suitor’s Chambersburg and Allentown…

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Ober max crop

Graycliff Partners, an independent New York investment firm focusing on middle market private equity transactions, has provided subordinated debt and equity financing to Delaware, Ohio-based Oberfields, a key regional player in concrete masonry and hardscape products, including standard gray and architectural block, segmental retaining walls, pavers, and precast components, plus related accessories. The investment supports the recapitalization of the company, led by President and CEO Bruce Loris, and buyout of another principal, Anderson Group LLC.

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Berks Products assets bridge New Enterprise’s eastern Pennsylvania arc

Sources: New Enterprise Stone & Lime Co., Inc., New Enterprise, Pa.; CP staff

In transactions totaling $46.3 million, New Enterprise Stone & Lime has acquired the assets of eastern Pennsylvania operators Berks Products Corp., Reading, and EJB Paving & Materials, West Lawn. Berks’ four ready mixed and two aggregate plants plus a construction supply center, and two EJB asphalt plants, serve markets west and north of Philadelphia.

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