Oldcastle Infrastructure has closed a deal to acquire Hancock Concrete Products, which operates one storage yard and six plants in Minnesota, the Dakotas and Iowa.
“Hancock Concrete has been a trusted partner with a long track record of serving the upper Midwest. Its well-rounded product offering and people first approach are a great addition to our growing business,” said Oldcastle Infrastructure President Jason Jackson. “The acquisition complements [our] existing product offering, while further expanding the company’s presence and customer base in the infrastructure market.”
The Hancock Concrete brand and underground product offering depth fits Oldcastle’s business model.
“Hancock Concrete aligns with our strategy to expand in key growth areas such as the water infrastructure, energy and communications markets,” added Oldcastle Infrastructure Pipe & Precast President Eric Rhea. “It is a pleasure to welcome aboard such a talented group, and together we will be a stronger organization, better positioned to become our customers’ strategic partner of choice.”
Oldcastle Infrastructure consummated the deal with Morris, Minn.-based aggregate equipment specialist Superior Industries, founded in 1972 by Neil Schmidgall, grandson of Hancock Concrete founder Henry Schmidgall. The latter arrived in Hancock, Minn. from Illinois in 1917 to operate and expand a drain tile plant. He equipped the business to enter reinforced concrete pipe production in 1925 and carry into the post-war era.
Sons Richard, Eugene and Wayne Schmidgall guided Hancock Concrete into large diameter pipe, precast box culvert and licensed Bebo arch bridge production. A 1940s offshoot, Schmidgall Sand & Gravel, served as a catalyst for Neil Schmidgall’s pursuit of the Superior Industries venture.