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New Enterprise Stone & Lime acquires Hempt Bros.

By |  May 3, 2021
Photo by Pit & Quarry staff.

New Enterprise Stone & Lime’s acquisition expands the company into Harrisburg, Pennsylvania. Photo: P&Q Staff

New Enterprise Stone & Lime Co., a construction materials producer in Pennsylvania and western New York, acquired all of the outstanding stock of Hempt Bros.

According to New Enterprise Stone & Lime, the acquisition includes three aggregate plants, four hot-mix asphalt plants, two ready-mixed concrete plants, paving, and heavy highway construction in the Harrisburg, Pennsylvania, area.

The facilities are ideally situated between New Enterprise Stone & Lime’s existing Chambersburg and Allentown locations, the company says. The acquisition expands New Enterprise Stone & Lime’s construction materials footprint and market scope into the Harrisburg market.

“We are excited to add this great family-owned business to our corporate family,” says Paul Detwiler III, CEO of New Enterprise Stone & Lime. “This acquisition expands our footprint into the Harrisburg area and was completed with virtually no additional long-term debt. This philosophy enhances our ability to grow operating profit and reduce leverage – a cornerstone of our operating plan.

“Furthermore, this acquisition is consistent with our strategic plan of adding great locations to our construction material business and, upon acquisition, is expected to be accretive to profits as we exit the pandemic and get back to the ‘new normal,’” Detwiler adds.

Kevin Yanik

About the Author:

Kevin Yanik is the editor-in-chief of Pit & Quarry magazine. Yanik can be reached at 216-706-3724 or kyanik@northcoastmedia.net.

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