PB Materials acquires aggregate, ready-mix assets

PB Materials Holdings Inc. (PBM), a regional producer of aggregate and ready-mix concrete in the Permian Basin, completed the simultaneous acquisitions of nearly all of the assets of ARM Trucking Ltd. Co. (ARM Concrete), Kermit Concrete Co. LLC and WUUD Aggregate LLC.

ARM Concrete and Kermit Concrete are providers of ready-mix concrete in Lubbock and Kermit, Texas, as well as surrounding markets. WUUD Aggregate provides sand and gravel in the Permian Basin and has a significant reserve position in the region.

The assets PBM acquired will add to the company’s current operations by providing more vertical integration throughout PBM’s footprint in West Texas and eastern New Mexico, as well as expanding the company’s existing aggregate and ready-mix concrete operations in its core markets.

The acquisitions will also enable PBM to better serve the marketplace and its customers and benefit from regional growth trends.

“We are excited to add this group of assets and welcome the employees of the three businesses to the PBM team,” says Christopher Crouch, CEO of PBM. “The operations are a sound fit with our existing strategic asset base in the Permian Basin and further allow PB Materials to provide high-quality service and construction materials to our customers in the region.”

Adds Patrick Machir, principal at WL Ross and director of PBM: “The acquisition continues PB Materials’ strategy of acquiring strategic assets that augment PBM’s footprint and position the business to capitalize on growth opportunities in the company’s end markets. The acquired operations will expand PBM’s ready-mix and aggregate capabilities, enhance its aggregate reserve position and strengthen its ability to serve its customer base in the region.”

PB Materials currently operates under the trade names of Wallach Concrete, Crockett County Mining and Damron Sand & Gravel.  PB Materials is majority owned through funds managed by WL Ross & Co. LLC.