Construction materials producer Fred Weber Inc., based in St. Louis, has acquired General Drilling Inc., based in Noblesville, Ind., which will become a wholly-owned subsidiary.
“General Drilling is a great strategic fit for us. Bringing them into the Fred Weber family will enable us to expand our service offerings, add an outstanding group of highly skilled employees, and deepen our presence in the Midwest and South,” Fred Weber CEO Doug Weible said. “We couldn’t be more enthusiastic about the possibilities this combination presents for us and our customers.”
For more than 50 years, General Drilling has provided safe, reliable and expert solutions to stone quarries. The acquisition represents a 15% increase to Fred Weber’s employee base.
“General Drilling has been a family company since my father, Bill Boatman, founded it in 1967,” said company president Matt Boatman. “We grew from two drill rigs in southern Indiana to more than 30 operating in nine states. We’ve done this by focusing on the right people, the right training and the right equipment for the job. Today, we’re excited to be part of an even bigger future with Fred Weber.”
With nearly a century of service to its clients, Fred Weber Inc. is an industry leader in contract mining, crushing services, full-service contract aggregate, frac-sand mining and processing, and related construction work across the United States, while it provides reinforced concrete products regionally.
“I’m grateful that Matt has entrusted the future of his family company to our combined Fred Weber family,” Weible said. “We will do him and his customers proud. What’s more, this transaction is a good example of the value of moving quickly when opportunities arise. But it would not have been possible without the tireless work of Fred Weber CFO Wendy Alexander. She applied her time and talent to get it done properly and quickly. Matt and I both thank her.”
Under the agreement, which is effective immediately, Boatman will remain president of General Drilling. Weible will remain CEO of Fred Weber and become chairman of General Drilling.
Headquarters for Fred Weber remains in St. Louis while General Drilling’s headquarters remain in Indiana. Financial terms of the transaction were not disclosed.