Summit Materials Announces Recent Acquisition of Norris Quarries in Cameron, Missouri
Washington, D.C., March 19, 2012 – Summit Materials is pleased to announce the recent acquisition of the aggregates operations of Norris Asphalt Paving Company. The aggregates business, which is based in Cameron, Missouri, has 19 sites throughout northwest Missouri with over 110 million tons of permitted limestone reserves and will operate as Norris Quarries, LLC. Norris Asphalt Paving Company retains its asphalt and paving services business based out of Ottumwa, Iowa.
Tom Hill, CEO of Summit Materials, commented, “We are delighted to expand our presence in Missouri with the addition of Norris Quarries, a first class operation. The addition of Norris Quarries is a great fit with Summit’s existing businesses in Kansas and Missouri and we look forward to the continued growth of the business.”
Pat Garrett, Vice President of Norris Quarries added, “We are very happy to team up with Summit and look forward to continuing to provide the highest quality products and service to our many customers”.
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, Blackstone Capital Partners V L.P., 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 21 acquisitions, and through its three regions, East, Central, and West, it conducts operations in Kentucky, Tennessee, Virginia, Kansas, Missouri, Utah, Wyoming, Colorado, Texas, Arkansas, Oklahoma, Iowa, and Idaho.
Further information is available at www.summit-materials.com
About Blackstone:
Blackstone (NYSE: BX) is one of the world’s leading investment and advisory firms. Blackstone seeks to create positive economic impact and long-term value for its investors, the companies it invests in, the companies it advises and the broader global economy. The firm accomplishes this through the commitment of its people and flexible capital. Blackstone’s alternative asset management businesses include the management of private equity funds, real estate funds, hedge fund solutions, credit-oriented funds and closed-end mutual funds. The Blackstone Group 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 us 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.
Contact
For Summit Materials:
Michael Brady
202-339-9509
For Blackstone:
Peter Rose
212-583-5263
For Silverhawk:
Matt Sheehy
203-861-2905