Apr 6 2015
U.S. Concrete, Inc. announced today that it has completed the acquisition of all of the issued and outstanding equity interests of Ferrara Bros. Building Materials Corp. (Ferrara Bros.), in New York, N.Y. Ferrara Bros. operates six ready-mixed concrete batch plants from four locations in New York and New Jersey, and has a fleet of 89 mixer trucks.
This acquisition will significantly expand U.S. Concrete's footprint in the New York metropolitan market and will allow the company to more effectively serve construction projects in Manhattan.
Ferrara Bros. has served the New York metropolitan area for more than 45 years with a strong reputation as the leader in the market. They offer a wide variety of concrete mix designs and have distinguished themselves as a leading provider of specialized, high-strength, high performance concrete for large, complex projects in the commercial, residential and infrastructure markets.
"This acquisition positions U.S. Concrete to take advantage of the many project opportunities that we were previously unable to serve in the metro New York market," said U.S. Concrete President and CEO, William J. Sandbrook. "The New York City construction market offers great growth potential and is very dynamic. Ferrara Bros. brings a seasoned and professional management team and a plant network that significantly enhances our service footprint in greater Manhattan. We are very excited about the combination of these two fine businesses."
Joseph A. Ferrara, President and CEO of Ferrara Bros. said, "Since our founding in 1969, and continuing through three generations of the Ferrara family, our company has consistently strived to enhance our position in the marketplace so as to better serve our customers, employees and other stakeholders. We greatly admire U.S. Concrete's strategic and financial achievements, and we are honored to become part of a national leader in our industry."
Source: http://us-concrete.com/