Fred Weber, a construction materials and services provider based in St. Louis, sold its aggregate and asphalt assets to New Frontier Materials.
New Frontier was formed in 2020 with goals of partnering, acquiring and growing companies in the aggregate and construction materials industries. Don James, the retired chairman and CEO of Vulcan Materials, is chairing the New Frontier board of directors. Bill Niketas, former CEO of Aggregates USA, is also on the New Frontier board.
According to New Frontier, the Fred Weber operations will form the core of its construction materials platform company that a private group of family offices and institutional investors is backing.
Headquarters for both Fred Weber and New Frontier will remain in St. Louis. Financial terms of the transaction were not disclosed.
Next for New Frontier
With the acquisition complete, New Frontier’s operations include more than 20 sites – stone quarries and asphalt plants – throughout St. Louis.
Mike Clarke, a 35-year industry veteran, is now CEO of New Frontier upon completion of the transaction. Doug Weible remains chairman and CEO of Fred Weber.
“I am excited and honored to lead New Frontier,” Clarke says. “These operations have served the St. Louis community for decades, and we will faithfully build on that commitment. We bring a long-term perspective and intend to grow by focusing on premium products and delivering superior customer service.
“I look forward to advancing the New Frontier philosophy with a continued focus on employee safety, environmental stewardship and community relations,” Clarke adds. “I am humbled to step into the shoes of accomplished CEO Doug Weible and wish him much continued success at Fred Weber.”
James also commented on the deal and the future of New Frontier.
“We are excited to partner with Mike and the team joining from Fred Weber to create value for customers, employees, the St. Louis community and investors alike,” James says. “This transaction establishes a platform for growth, an important first step for New Frontier Materials.”
Featured photo: P&Q Staff
