Peckham Industries Inc. acquired the Gorman Group’s liquid asphalt terminal assets, as part of a larger transaction wherein the entirety of the Gorman Group is being sold.
Located in Rensselaer N.Y., the terminal is the largest privately held asphalt terminal on the East Coast. The acquisition will provide Peckham with additional opportunities in the New York/New England region, supplying both internal and external hot-mix asphalt plants and emulsion mills.
“This acquisition allows us to further integrate and grow our presence in the Hudson Valley region of New York, one of the most rapidly growing parts of the state.” stated Damian Murphy, president of Peckham Industries Inc. “We recognize the prominent history of Gorman and the significant contribution the business has made to the region. This terminal will enable Peckham to utilize the multimodal access offered by the Rensselaer terminal for expanded sourcing options, as well as increased proximity to our customers, all of which create opportunities to distribute asphalt in the most cost-efficient manner possible. This acquisition is a very proud moment for Peckham Industries and we look forward to the integration of these two family-owned and operated companies.”
Tony Gorman, president of The Gorman Group noted, “We are extremely excited for the Gorman terminal to join Peckham Industries. Our shared values as family-owned companies will ensure a seamless transition as we work through the integration process. We are pleased that our terminal and employees will be a part of the growth of Peckham Industries in the surrounding region.”