Breedon Group purchases BMC Enterprises in $300M deal

By Kevin Yanik| March 7, 2024

Breedon Group, a construction materials group located in the U.K., acquired BMC Enterprises in a deal valued at $300 million.

BMC is a supplier of aggregates, ready-mixed concrete and building products headquartered in St. Louis.

“The acquisition of BMC represents a compelling opportunity for Breedon to launch our third platform in the USA,” says Rob Wood, CEO of Breedon Group. “BMC has an excellent performance track record over a sustained period and is positioned in an attractive market for future growth.

Nathan McKean, president and CEO of BMC, is also the owner of the company. According to Breedon Group, McKean will transition to a non-executive advisory role for Breedon’s North American business upon completion of the sale.

The wider BMC management team will remain with the business, according to Breedon Group. This includes COO Andy Arnold, CFO John Crumrine and chief HR officer Mark Jacobs. Additionally, Arnold will be appointed CEO of BMC upon completion of the sale.

“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,” Wood says. “The acquisition is expected to be earnings enhancing for shareholders while allowing Breedon 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.”