May 25 2015
U.S. Concrete, Inc. announced today that it has completed the acquisition of Colonial Concrete Company ("Colonial"), in Newark, N.J. Colonial serves the northern New Jersey market through its three ready-mixed concrete batch plants and fleet of approximately 40 mixer trucks.
Colonial has an established and respected market presence in New Jersey with over 35 years of operating experience serving the commercial and residential end markets. The northern New Jersey market is poised for strong growth driven by population expansion and economic development. Several of Colonial's recent high-profile projects include the Red Bull Arena in Newark, N.J. and the Meadowlands Sports Complex in East Rutherford, N.J.
"We are very excited to complete this acquisition which further strengthens our footprint in this thriving New York metropolitan submarket," said William J. Sandbrook, U.S. Concrete President and CEO. "Colonial's attention to quality and pride in customer service will be a great fit for our business as we integrate these assets onto our platform, realize potential synergies and enhance our vertically integrated capabilities. We expect this acquisition to contribute positively to our overall operations immediately and we remain focused on sourcing additional opportunities to accretively expand our platform in our select target markets across the nation."
About U.S. Concrete
U.S. Concrete serves the construction industry in several major markets in the United States through its two business segments: ready-mixed concrete and aggregate products. The Company has 135 standard ready-mixed concrete plants, 16 volumetric ready-mixed concrete facilities, and 10 producing aggregates facilities. During 2014, U.S. Concrete sold approximately 5.7 million cubic yards of ready-mixed concrete and approximately 4.7 million tons of aggregates. For more information on U.S. Concrete, visit www.us-concrete.com.
Source: http://us-concrete.com/