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The latest on the Summit acquisition front

By |  February 15, 2018

Upon releasing its results for the fourth quarter and the 2017 calendar year, Summit Materials revealed that it completed 14 acquisitions last year for a combined purchase price of about $420 million.

Summit has now completed more than 60 transactions since 2009. Since the start of 2018, the company has completed three materials-based acquisitions totaling about $120 million.

Among Summit’s latest acquisitions is Metro Ready Mix, an aggregate and ready-mix concrete company that expands and complements Summit’s vertically integrated position in the Salt Lake City market.

Summit also closed a deal with Mertens Construction Co., a pure-play aggregate business with extensive reserves that geographically expand Summit’s existing position in central Missouri.

Additionally, Summit acquired Price Construction Co., an aggregate, asphalt, paving and construction services company that expands Summit’s footprint in the West Texas region. The acquisition creates a fully-integrated aggregate, ready-mix concrete and paving services platform for Summit in the growing Midland-Odessa market, as well.

Summit closed on the acquisitions with Metro Ready Mix, Mertens Construction and Price Construction in January.

“All three of these materials-based transactions further establish our existing presence in growing markets characterized by favorable long-term demographic trends,” says Tom Hill, CEO of Summit Materials who also offers some thoughts on the months ahead at the company. “Looking ahead, we currently have several materials-based, bolt-on transactions currently in diligence that we expect will close in the near future.”

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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