Washington, D.C. April 2, 2012 – Summit Materials (“Summit”) is pleased to announce the acquisition of Westroc, Inc. (“Westroc”), an aggregates and ready-mix concrete company in Utah, and the purchase of certain aggregates, ready-mix concrete, asphalt and paving assets based in Wichita, Kansas from Lafarge North America, Inc. (“Lafarge, Wichita Assets”). Summit acquired mineral reserves in excess of 100 million tons through these transactions.
Westroc, based in Pleasant Grove, Utah, operates two aggregates sites and seven ready-mix concrete plants along the Wasatch Front. The Lafarge, Wichita Assets comprise two aggregates operations, three ready-mix concrete plants and one asphalt plant located in metro Wichita and the broader southeast Kansas area.
Tom Hill, CEO of Summit, commented, “We are delighted to welcome these businesses and their employees to Summit. They expand our footprint in Utah and Kansas and we look forward to continuing to provide the highest quality products and services to our many valued customers.”
Contact:
For Summit Materials:
Michael Brady
202-339-9509
For Blackstone:
Christine Anderson
212-583-5182
For Silverhawk:
Ted Gardner
704-409-3334
About Summit Materials
Summit Materials was formed in 2009 to develop a leading business in the aggregates and heavy-side building materials sector through strategic acquisitions. Summit Materials was founded by its CEO Tom Hill and a group of investors that include members of its management team, Blackstone Capital Partners V L.P., and Silverhawk Capital Partners. Tom Hill is the former CEO of Oldcastle Inc., the U.S. division of CRH, Plc. To date Summit Materials has completed over 20 acquisitions, and through its three regions, East, Central, and West, it conducts operations in Kentucky, Tennessee, Virginia, Kansas, Missouri, Illinois, Iowa, Utah, Idaho, Wyoming, Colorado, Texas, Arkansas, and Oklahoma. Further information is available at www.summit-materials.com
About The Blackstone Group
Blackstone (NYSE: BX) is one of the world’s leading investment and advisory firms. Blackstone seeks to create positive economic impact and long-term value for its investors, the companies it invests in, the companies it advises and the broader global economy. The firm accomplishes this through the commitment of its people and flexible capital. Blackstone’s alternative asset management businesses include the management of private equity funds, real estate funds, hedge fund solutions, credit-oriented funds and closed-end mutual funds. The Blackstone Group also provides various financial advisory services, including financial and strategic advisory, restructuring and reorganization advisory and fund placement services. Further information is available at www.blackstone.com
About Silverhawk Capital Partners
Silverhawk is an independent investment group established in 2005 to invest in management buyouts and other private equity transactions in the Industrial, Energy/Natural Resources and Business Service sectors. The partners of Silverhawk have invested as a team and operated businesses since 1989. Further information is available at www.silverhawkcapitalpartners.com. |