MDU Resources acquires aggregate supplier

MDU Resources Group acquired Tri-City Paving, a general contractor and aggregate, asphalt and ready-mix concrete supplier.

Tri-City Paving, headquartered in Little Falls, Minnesota, will become part of Knife River Corp., the construction materials subsidiary of MDU Resources.

“For 70 years, Tri-City has provided high-quality construction materials and contracting services to support growth in central Minnesota,” says David Barney, Knife River president and CEO. “We are excited to welcome the 150 Tri-City employees to Knife River and are pleased to be expanding our operations in Minnesota. Tri-City’s service territory in the Little Falls/Brainerd area helps to connect our central and northern Minnesota locations.”

In addition to its aggregate reserves and related processing equipment, Tri-City operates three portable asphalt plants, three ready-mix plants and a dust-control operation. It will become part of Knife River’s central Minnesota division, headquartered in Sauk Rapids, Minnesota.

Financial details of the acquisition were not disclosed.

“Strategic acquisitions like this one are what built our construction materials business, and with two deals closed in the last six weeks, it is good to be in growth mode again at Knife River,” says David Goodin, president and CEO of MDU Resources Group. “We look forward to continued success in Minnesota and are optimistic about additional growth opportunities at Knife River and our other businesses.”