CRH acquires Mulzer Crushed Stone

By |  March 4, 2017

Mulzer Crushed Stone’s Cape Sandy Quarry. Photo courtesy of Mulzer.

CRH plc purchased Mulzer Crushed Stone Inc., one of the largest privately held aggregate producers in the United States.

CRH, the parent company of Oldcastle Inc., revealed the acquisition as part of a series of announcements detailing its acquisition activity for the first two months of the year.

According to CRH, Mulzer operates six quarries, five sand-and-gravel operations, 14 aggregate yards, four ready-mix concrete plants and three asphalt plants. Mulzer, whose Cape Sandy Quarry is among the largest crushed-stone operations in the U.S., serves the Ohio and Kanawha River valleys.

In the first two months of 2017, CRH also made two acquisitions in the Minneapolis and St. Paul, Minnesota, region, purchasing Hardrives Inc. and Chard Tiling and Excavating. According to CRH, these acquisitions add two aggregate operations, eight asphalt plants, asphalt construction and an asphalt terminal operation to CRH’s portfolio.

CRH acquired Columbia Asphalt, a vertically integrated business in Yakima, Washington, within the first two months of the year, as well. Columbia has three aggregate sites, three asphalt plants and one ready-mix concrete plant, according to CRH.

In addition, CRH acquired certain assets of Connell Resources, a vertically integrated aggregate, asphalt and construction company with operations in Colorado. CRH also reports that it acquired certain quarry assets in Montreal.

All of these early 2017 acquisitions, along with the purchase of Costello Industries, a cold milling contractor in Connecticut, represent a combined investment spend of 500 million euros, or about $531 million.

“CRH’s development activity in the first two months of 2017 demonstrates both our strong pipeline and our commitment to value-accretive portfolio management,” says Albert Manifold, CRH chief executive.

CRH also announced disposals totaling 400 million euros, or about $425 million.

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