Summit Materials (Summit) announces that Glenn Culpepper has joined the company as its Chief Financial Officer. Mr. Culpepper brings over 21 years of heavy building materials experience to the company. His experience in finance, operations and the capital markets is an excellent fit for the company’s high growth business model and will further strengthen Summit’s management team. Tony Keenan, one of Summit’s founding members, will become Senior Vice-President of Finance.
Prior to joining Summit, Glenn was the Finance Director of CRH Plc., one of the largest building materials companies in the world and served on its Board of Directors. CRH is headquartered in Dublin Ireland and employs over 80,000 employees in 35 countries. Prior to his role as CRH Finance Director, Glenn worked with Summit’s CEO, Tom Hill as Chief Financial Officer for Oldcastle Materials, the US Materials subsidiary of CRH plc from 1995 to 2008.
Tom Hill, Summit’s CEO commenting on this development “We are delighted to have Glenn join the Summit Team. He is a well-regarded Chief Financial Officer. He brings with him a deep understanding of the operations and has experience in negotiating and closing multiple acquisitions in our industry. We worked together for many years and he has all the skills to help us accelerate our growth strategy.”
Before joining Oldcastle, Glenn worked for several years for a leading international accounting firm. He is a graduate of the University of Michigan with a CPA and MBA. Glenn will be based in Washington D.C., and lives in Northern VA with this wife and daughter.
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., Silverhawk Capital Partners and Charles "Chip" Goodyear, former CEO of BHP Billiton. Tom Hill is the former CEO of Oldcastle Inc., the US division of CRH, plc. Other Summit companies are Hamm, Inc. in Perry, Kansas (acquired September 2009), Hinkle Contracting Company in Paris, Kentucky (acquired February, 2010), and Cornejo & Sons in Wichita, Kansas (acquired April 2010).
About The Blackstone Group
Blackstone (NYSE: BX - News) 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 extraordinary people and flexible capital. Blackstone’s alternative asset management businesses include the management of private equity funds, real estate funds, funds of funds, credit-oriented fund, collateralized loan obligation vehicles (CLOs) 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
Contact:
For Summit Materials:
Michael Brady, 202-339-9509
For Blackstone:
Heather Lucania, 212-583-5452
For Silverhawk:
Matt Sheehy, 203-861-2905