Mills Group added Ameron Hawaii’s Oahu and Maui ready mixed, precast and aggregate operations to its real estate development and investment business, closing a July 1 deal with Houston-based National Oilwell Varco.
Ameron Hawaii is the Oahu market leader in ready mixed, with two Honolulu plants – Campbell Industrial Park headquarters plus Kapaa Quarry satellite – and a 50-mixer fleet, plus a sister business, Island Ready-Mix Concrete, running 20 mixers. The 20-acre flagship operation has companion precast and concrete pipe production. On Maui, Ameron Hawaii runs 40 mixers between Kahului (main), Kihei and Honokowai plants.
Citing Ameron Hawaii as a “well-known and highly regarded name in the islands,” Mills Group founder Bill Mills notes how the transaction brings “ownership and control of this well-established company back to Hawaii … There will be no changes in current management or employees, and all operating and management decisions will now be made locally.” Wade Wakayama remains Ameron Hawaii president and chief executive officer, as Francis Kuhn continues to oversee Island RMC.
The Ameron Hawaii sale dovetails portfolio streamlining at National Oilwell Varco, which consummated a fall 2011 merger with Los Angeles-based Ameron International Corp. –the deal driven by the latter company’s fiber glass pipe technology and production assets.
In addition to that business, NOV Ameron maintains concrete and steel offerings in its Water Transmission and Pole Products units. The Ameron Hawaii sale proceeded an early-June spinoff of NOV Wilson, a global, energy-geared supply chain business rebranded DistributionNOW.