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…
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Quikrete 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…
Read MoreFirst Look – September 2024
TOP NEWS Summit MaterialsSummit Materials Inc. announced results for the second quarter ended June 29, reporting that net revenue increased $395.1 million, or 58.1%, in the second quarter to $1,075.5 million. In the quarter, $464.0 million of net revenue was due to acquisitions, primarily the Argos USA transaction Martin Marietta MaterialsMartin Marietta Materials Inc. reported results for the second quarter…
Read MoreSummit by Segment
Aug. 7, 2024 – Summit Materials’ net revenue increased $395.1 million, or 58.1%, in the second quarter to $1,075.5 million. In the quarter, $464.0 million of net revenue was due to acquisitions, primarily the Argos USA transaction. Geographically, the West Segment operating income decreased $3.9 million to $70.7 million. Adjusted EBITDA decreased $2.9 million, or 2.8%, to $101.6 million in the second quarter largely…
Read MoreSummit Rides Argos Acquisition, Organic Pricing Growth to Strong Second Quarter
Summit Materials Inc. announced results for the second quarter ended June 29, reporting that net revenue increased $395.1 million, or 58.1%, in the second quarter to $1,075.5 million. In the quarter, $464.0 million of net revenue was due to acquisitions, primarily the Argos USA transaction. Divestitures decreased net revenue by $46.6 million in the period. All lines of business experienced organic…
Read MoreFirst Look – June 2024
TOP NEWS Summit MaterialsSummit Materials, Inc. announced results for the first quarter ended March 30. Net revenue increased $366.0 million, or 89.9% in the first quarter to $773.2 million, including the partial quarter impact of the Argos USA assets. In the quarter, $378.5 million of revenue was recognized from recent acquisitions which more than offset a decrease of $21.7 million…
Read MoreSummit’s Argos Acquisition Powers Strong First Quarter
Summit Materials, Inc. announced results for the first quarter ended March 30. Net revenue increased $366.0 million, or 89.9% in the first quarter to $773.2 million, including the partial quarter impact of the Argos USA assets. In the quarter, $378.5 million of revenue was recognized from recent acquisitions which more than offset a decrease of $21.7 million in net revenue…
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