Data Mining July 2011
By George H. Reddin
Merger and acquisition activity continues to plod along with the theme of strategic bolt-on and corporate divestitures continuing to lead the way. Publicly traded companies continue efforts to repair balance sheets and raise capital.
Lafarge sold its cement and concrete assets in the southeast United States to Colombia-based Cementos Argos for an enterprise value of $760 million. The cement assets sold include the Harleyville cement plant in South Carolina, the Roberta cement plant in Alabama, a cement grinding station in Atlanta, and associated supporting cement terminals. Lafarge is also selling its ready-mix concrete units in this area of the United States. The total revenues of these divested businesses were approximately $240 million in 2010.
Hancock Concrete Products, LLC, based in Hancock, Minn., has acquired the Hanson Pipe & Precast plant in Sioux Falls, S.D. Hancock Concrete Products manufactures infrastructure products including precast concrete box culverts, concrete round and arch pipes, manhole structures, three-sided bridges, flat storage solutions, and block products.
Natural Resource Partners L.P. (NRP) has acquired a royalty interest in frac sand reserves near Tyler, Texas, for a purchase price of $16.5 million. The reserves are strategically located near several shale gas basins in Texas, Louisiana, Oklahoma, and Arkansas. NRP is a master limited partnership headquartered in Houston, Texas, with its operations headquarters in Huntington, W.Va., which is principally engaged in the business of owning and managing mineral reserve properties.
Breckenridge Material Co. has acquired an interest in Ready Mix Concrete, Inc., based in San Juan, Puerto Rico. Breckenridge Material Co., based in St. Louis, produces and supplies ready-mix concrete, construction aggregates, and a variety of building materials and accessories.
Dolese Bros. Co. has acquired Rainbow Concrete Co., based in Tulsa, Okla. Rainbow owns and operates five ready-mix concrete plants and approximately 60 concrete mixing trucks. Dolese Bros. Co., based in Oklahoma City, produces and supplies construction materials in Oklahoma and Louisiana.
Coco Paving Inc., based in Windsor, Canada, has acquired Ron Robinson Ltd., based in Bowmanville, Canada, and Kovacs Sand & Gravel Ltd., based in Hampton, Canada. Ron Robinson Ltd. offers construction services, and Kovacs Sand & Gravel Ltd. owns and operates quarries and distributes crushed stone, sand, and gravel.
Vulcan Materials Co. has announced that it intends to offer $1 billion of senior unsecured notes. Vulcan intends to use the net proceeds to refinance existing debt, fund a partial tender offer for its existing senior notes, reduce borrowings under its credit facility, and for general corporate purposes.
From our partners
MORE FROM Articles
SUBSCRIBE & FOLLOW
- A set of dinosaur footprints were found in a German quarry554 Views
- A Game of Stones: Quarry set location of 'The Wall' in HBO show could become a permanent attraction466 Views
- The nation’s top 25 crushed stone producers408 Views
- Summit Materials acquires Utah construction materials company377 Views
- A miner was seriously injured after a metal walkway gave way305 Views