Quikrete Holdings Inc. has finalized its acquisition of Summit Materials for $52.50 per share in cash, for a total enterprise value of approximately $11.5 billion, including debt.
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BulkSource Hires Former Summit Materials President Tom Hill
BulkSource, a technology platform for the aggregate and construction materials industries, has hired industry veteran Tom Hill as its chairman and investor. Founded in 2021 and headquartered in Denver, BulkSource is an operator-driven supply chain platform revolutionizing the aggregate, asphalt and concrete sectors. BulkSource’s technology empowers clients with streamlined solutions that drive efficiency, scalability and innovation, requiring minimal IT investment,…
Read MoreFIRST LOOK – JANUARY 2025
TOP NEWS Summit-Quikcrete MergerSummit Materials Inc. has entered into a definitive agreement to be acquired by Quikrete Holdings Inc. for $52.50 per share in cash, for a total enterprise value of approximately $11.5 billion, including debt. The transaction combines Summit’s leading aggregates, cement and ready-mix concrete businesses with Quikrete’s leading concrete and cement-based products business to create a vertically integrated,…
Read MoreMergers and Acquisitions
Dec. 27, 2024 – It was a huge year for mergers and acquisitions in 2024. The biggest moves of the year came from Summit Materials, which completed its previously announced merger with Argos in January, then in November entered into a definitive agreement to be acquired by Quikcrete. Other large companies were active as well. Vulcan Materials acquired Wake Stone…
Read MoreFirst Look – December 2024
TOP NEWS Vulcan MaterialsVulcan Materials Co. announced results for the quarter ended Sept. 30, reporting total revenues of $2,004 billion, versus $2,186 in the third quarter of 2023. Year-to-date, the company is reporting revenues of $5,564 billion versus $5,948 billion for the same period in 2023. Martin Marietta MaterialsMartin Marietta Materials Inc. reported results for the third quarter ended Sept.…
Read MoreInstant Analysis: Summit-Quikrete Deal a Win-Win
Nov. 25, 2024 – While it was previously announced that Summit Materials and Quikrete were in acquisition discussions, it is now a done deal, subject of course to Summit shareholder approval, regulatory approvals and other customary closing conditions. Summit will be acquired by Quikrete Holdings Inc. for $52.50 per share in cash, for a total enterprise value of approximately $11.5…
Read MoreQuikrete Eyes Summit Materials
Oct. 25, 2024 – The industry is buzzing with the news that Quikrete has approached Summit Materials with an acquisition offer. Summit Materials, in a posting on its website, reported that “it has received a non-binding acquisition proposal. The company has held initial discussions with the interested party, and, in consultation with its advisors, Summit’s board of directors will carefully…
Read MorePublicly Traded Companies
Here Are The Latest Reports From Publicly Traded Aggregates Companies, In Alphabetical Order. ArcosaArcosa has entered into a definitive agreement to acquire the construction materials business of Stavola Holding Corp. and its affiliated entities for $1.2 billion in cash, subject to customary post-closing adjustments. Founded in 1948, Stavola is an aggregates-led and vertically integrated construction materials company primarily serving the…
Read MoreAstec Appoints Harris Chief Financial Officer
Astec Industries Inc. appointed of Brian J. Harris as its chief financial officer, effective immediately. In connection with the appointment of Harris, Heinrich Jonker will step down from his role as Interim chief financial officer and will continue to serve as vice president finance – infrastructure solutions of the company. Harris previously served as executive vice president and chief financial…
Read MoreEverybody Talks About The Weather
American essayist and novelist Charles Dudley Warner is known for making the famous remark, “Everybody talks about the weather, but nobody does anything about it.” Mark Twain liked it so much he stole it and everyone now attributes it to him. No matter who said it, the remark is spot on. But what can we do about it? We better…
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