Sep 8 2014
Summit Materials (“Summit”) is pleased to announce the acquisition of Mainland Sand and Gravel (“Mainland”), a supplier of construction aggregates to the Vancouver and Lower Mainland region of British Columbia. This acquisition expands Summit’s footprint and creates a new growth platform for Summit in the attractive British Columbia market.
Mainland operates two quarries and four river-served aggregates distribution depots. Mainland’s team, led by Ted Carlson and Ewan Moir, will remain in place to manage and develop the business as part of the Summit group of companies.
Summit CEO, Tom Hill, commented, “We are very happy to welcome Mainland and its employees to Summit. Mainland is a great company with a long history of supplying aggregates throughout Vancouver and Lower Mainland. We are excited about this expansion into western Canada and look forward to working with the Mainland team and Carlson family in this new market for Summit.”
Mainland President, Ted Carlson, advised, “We are delighted to join Summit as we enter the next phase of Mainland’s development. We believe there is a great fit between Mainland and Summit and we look forward to continuing to provide our many valued customers with the highest quality aggregates and service for many years to come.”
About Summit Materials
Summit Materials is a leading aggregates based construction materials company that supplies aggregates, cement, ready-mixed concrete and asphalt, and provides paving and other services. We are committed to promoting the success of our businesses by offering a safe place to work and implementing best practices, while striving to exceed our environmental and social responsibilities. Summit Materials was formed by its CEO Tom W. Hill and a small group of investors, including members of its management team, Blackstone Capital Partners (an affiliate of The Blackstone Group) and Silverhawk Capital Partners. Summit Materials completed its first acquisition in late 2009 and since then has closed on 31 additional acquisitions, which are organized into ten operating companies in three geographic regions across the United States and western Canada. Further information is available at www.summit-materials.com.
About Blackstone
Blackstone is one of the world’s leading investment and advisory firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, the companies we advise and the broader global economy. We do this through the commitment of our extraordinary people and flexible capital. Our asset management businesses include investment vehicles focused on private equity, real estate, hedge fund solutions, non-investment grade credit, secondary funds, and multi asset class exposures falling outside of other funds’ mandates. Blackstone also provides various financial advisory services, including financial and strategic advisory, restructuring and reorganization advisory and fund placement services. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.
About Silverhawk Capital Partners
Silverhawk is an independent investment group established in 2005 to invest in management buyouts and other private equity transactions in the Industrial, Energy/Natural Resources and Business Service sectors. The partners of Silverhawk have invested as a team and operated businesses since 1989. Further information is available at www.silverhawkcapitalpartners.com.
Source: http://summit-materials.com/