October 4, 2013
Permian Basin Materials (PBM), a newly formed affiliate of WL Ross & Co., announced Wednesday that it has acquired Crockett County Mining, Highland Concrete Co. and Wallach Concrete.
Funds managed by WL Ross will own 80 percent of PBM, while existing shareholders from the three businesses will own a combined 20 percent. All companies will continue to operate under their existing trade names.
The combined operations of PBM will be a regional producer of sand and gravel aggregates, limestone aggregates and ready mix concrete in the Permian Basin areas of west Texas and eastern New Mexico.
PBM will own or lease a total of 10 aggregates mines and 16 ready mix plants in the region.