Summit Materials Inc. is set to acquire Colorado-based Everist Materials LLC and Arkansas-based Razorback Concrete Co.
The transactions are expected to close on or before Feb. 28.
According to Summit, the materials-based acquisitions of Everist and Razorback collectively bring aggregate operations with more than 100 million tons of permitted reserves in Colorado and Arkansas to the company. The acquisition also adds a network of ready-mix concrete and asphalt plants to Summit’s portfolio.
“The pending acquisitions of Everist and Razorback enable Summit to expand its integrated, materials-based model in growing markets throughout west-central Colorado and Arkansas,” says Tom Hill, CEO of Summit. “Both companies bring proven operations, high-caliber assets and long-established customer relationships that provide an ideal entry point into early-cycle markets where we see long-term potential for profitable growth.”
The acquisition of Everist will expand Summit’s existing operations to include markets bordering Denver, where a number of transportation infrastructure projects are taking place, Hill adds. In addition, he says the Razorback acquisition is consistent with Summit’s long-term strategy to develop materials-based positions along the Mississippi River.
Summit Materials is a vertically integrated materials-based company that supplies aggregate, cement, ready-mixed concrete and asphalt in the United States and British Columbia, Canada.
