Summit Materials continues on the acquisition path

Hill

Summit Materials shared details on its latest acquisitions upon releasing its first-quarter 2018 results.

The company completed seven acquisitions so far this year, including four that closed since Summit’s last quarterly report was published in mid-February.

The total investment spend for the seven totaled about $154 million, including about $34 million for the four transactions since mid-February.

“Recent acquisitions have served to further establish our leadership in well-structured, materials-based markets in Utah, Texas, Oklahoma, Kansas, Kentucky and Missouri,” says Tom Hill, CEO of Summit Materials. “The acquisition pipeline remains very active as we look ahead to the remainder of the year, with multiple transactions currently in various stages of diligence.”

Among Summit’s latest transactions is Stoner Sand, a bolt-on aggregate acquisition in Missouri that will support the company’s existing operations in the region. Summit closed on the acquisition in late February.

Additionally, Summit acquired Midwest Minerals. Midwest Minerals expands Summit’s market presence in southeast Kansas. Summit closed on this acquisition in April.

Day Concrete, an established ready-mix concrete company in Oklahoma was also purchased. Day Concrete adds to Summit’s existing aggregate and ready-mix concrete operations in Oklahoma. Summit closed on the acquisition in April.

Lastly, Superior Ready-Mix, a ready-mix concrete company in Kentucky, was brought into the fold. Superior Ready-Mix will complement Summit’s market coverage in the region and will integrate into the company’s existing operations. Summit closed on this acquisition in April.