M&A the Oldcastle way
Merger and acquisition activity is beginning to pick up as companies position themselves to take advantage of the next market upturn. Oldcastle Materials just added to its asphalt holdings with the purchase of the asphalt and construction business assets of MAC Construction Inc., in Buchanan County, Va. This is the 15th acquisition year-to-date for Oldcastle Materials. MAC Construction is a family-owned company started by Roger and John McClanahan in the late 1970s. Owner Mark McClanahan joins Oldcastle Materials in the role of area manager along with the company's 28 employees. The acquisition is a good bolt-on to its W-L Construction & Paving business, according to Oldcastle. "The additional capabilities that MAC Construction brings will allow us to continue to meet the needs of the Commonwealth," said Jerry Short, general manager. Virginia's current highway network is the result of more than 100 years of investment in infrastructure and we look forward to working together to provide quality asphalt and paving services throughout southwest Virginia."
Published: Tuesday, 14 December 2010 09:59
Written by Mark Kuhar
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