Summit Materials Expands Platform With Strategic Acquisitions
Summit Materials, LLC (Summit), a building materials company, today announced that it has concluded the acquisition of RK Hall Construction, Ltd, Buster Crushed Stone and associated companies (collectively “RK Hall”), based in Paris, Texas. RK Hall is an aggregates, asphalt production, paving and construction business with operations in northeast Texas, southeast Oklahoma and southwest Arkansas.
RK Hall will become part of Summit’s western platform that was first formed through acquisition of Harper, Kilgore and Altaview companies in Salt Lake City, Utah. The existing management team, headed by Robert Hall and Mark Buster will remain in place and partner with Summit leadership to run and grow the business.
Tom Hill, CEO of Summit stated, “The acquisition of RK Hall expands Summit’s reach into the western part of the United States and propels us into the attractive Texas market. We are pleased to join forces with Robert Hall and Mark Buster and their entire management team and look forward to working with them as we develop a leading business in the building materials sector.”
Robert Hall remarked: “RK Hall Construction, Buster Crushed Stone and associated companies are very proud to become part of the Summit Group. Early on we discovered that our values and goals are closely aligned with Summit’s. I believe that the combination of Summit and RK Hall companies will be able to deliver quality and timely projects and materials to our many valued customers for many years to come.”
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., Silverhawk Capital Partners and Charles “Chip” Goodyear, former CEO of BHP Billiton. Tom Hill is the former CEO of Oldcastle Inc., the US division of CRH, plc. Other Summit companies are Hamm, Inc. in Perry, Kansas (acquired September 2009), Hinkle Contracting Company in Paris, Kentucky (acquired February, 2010), Cornejo & Sons in Wichita, Kansas (acquired April 2010), Harper Contracting and Kilgore Paving in Salt Lake City, Utah (acquired July 2010), Altaview Concrete in Salt Lake City, Utah and Con-Agg in Columbia MO (acquired in September 2010).
About The Blackstone Group
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 extraordinary people and flexible capital. Blackstone’s alternative asset management businesses include the management of private equity funds, real estate funds, funds of funds, credit-oriented fund, collateralized loan obligation vehicles (CLOs) 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.
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:
Christine Anderson
212-583-5182
For Silverhawk:
Matt Sheehy
203-861-2905