Summit Continues Acquisitions
- Published: Friday, 15 October 2010 10:46
This yearís most active U.S. construction materials deal maker, Summit has added ready mixed and aggregate properties in markets where it only recently staked claim, closing on Con-Agg in Columbia, Mo., and Altaview Concrete in Sandy, Utah. The former operates a ready mixed and aggregate business near the I-70 corridor in north-central Missouri. Con-Agg is strategic to Continental Cement Co., Hannibal, Mo., in which Summit took a majority position this spring.
Altaview Concrete operates three batch plants outside Salt Lake City, plus Wasatch Concrete Pumping and Peak Construction Materials, with two sand and gravel pits. Company President Scott Reynolds and Vice President Scott Bigler will reportedly continue in their roles while the business is integrated with Harper-Kilgore. Summit formed the Salt Lake City platform over the summer, merging the acquired ready mixed, aggregate and asphalt production assets--plus companion construction businesses--of Harper Cos. and Kilgore Paving and Maintenance.
Concurrent with the Altaview deal, Summit has appointed Shane Evans and Bill Raimer regional president and regional chief financial officer, respectively, over the Utah platform and prospective western U.S. investments. Both are former Oldcastle Materials colleagues of Summit CEO Tom Hill.