Summit Materials Announces Acquisition of Troy Vines, Inc.
Denver, CO – April 1, 2014 – Summit Materials (“Summit”) is pleased to announce the acquisition of Troy Vines, Inc. (“Troy Vines”), an integrated aggregates and ready-mix concrete company headquartered in Midland, TX. The company, established in 1978 by Troy Vines, operates one quarry and one sand & gravel pit and has eight ready-mix concrete plants serving the Permian Basin region of West Texas.
Summit CEO, Tom Hill commented, “We are delighted to expand our footprint into this fast growing market in West Texas. Troy Vines complements our existing business in Texas and we are excited to welcome its employees to Summit. We look forward to continuing to invest in the business to service demand from Troy Vines’ many valued customers.”
Contact:
For Summit Materials:
Brian Harris
303-515-5165
About Summit Materials
Summit Materials was formed in 2009 to develop a leading business in the aggregates and heavy-side building materials sector through strategic acquisitions. Summit Materials was founded by its CEO Tom Hill and a group of investors that include members of its management team, private equity funds managed by Blackstone, and Silverhawk Capital Partners. Tom Hill is the former CEO of Oldcastle Inc., the U.S. division of CRH, Plc. To date Summit Materials has completed over 25 acquisitions, and through its three regions, East, Central, and West, it conducts operations in Kentucky, Tennessee, Virginia, Kansas, Missouri, Illinois, Iowa, Utah, Wyoming, Colorado, Texas, Arkansas, Oklahoma, and Idaho. 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.