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Hardaway Concrete Company, Inc.
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2007 Update - Building Products Transaction
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“Because of McColl Partners’ experience with family owned businesses and knowledge of the building products industry, we were able to complete a transaction that achieved the objectives of the shareholders. We were impressed by McColl Partners’ commitment to structuring a partnership that met our long term vision for the Company and our loyal employees.”
Page Morris
Co-Chief Executive Officer
Hardaway Concrete Company, Inc.
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“The combination of Aggregate Industries and Hardaway Concrete creates an integrated platform that will effectively capitalize on growth opportunities within the Columbia and Greenville markets. We are pleased that the shareholders realized their goals in this process and that the Company is positioned for continued market leadership."
Brad Winer
Partner
McColl Partners, LLC
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Deal Summary
McColl Partners announced that it has advised Hardaway Concrete Company, Inc. (“Hardaway” or the “Company”) in its sale to Aggregate Industries Ltd., a member of the Holcim Group. The sale of Hardaway marks McColl Partners’ sixth transaction in the ready mixed concrete industry. Eric Andreozzi, Brad Winer, Colby Schwartz, Denis Ackah-Yensu, and Leslie Ann Brooks executed the transaction for McColl Partners.
Hardaway is the largest locally owned producer of ready mixed concrete in the Columbia and Greenville, South Carolina markets combined. Hardaway owns and operates 10 permanent ready mixed concrete facilities, 2 mobile concrete plants, and a fleet of 90 mixer trucks and hauling vehicles. The Company produced over 500,000 cubic yards of ready mixed concrete in 2006.
The acquisition provides Aggregate Industries with a strong presence in markets where it does not currently hold ready mixed concrete production facilities. Following the completion of the transaction, the Company will continue to operate as Hardaway Concrete Company, and Hardaway’s majority shareholders, Page Morris and Channing Joye, will remain with the Company providing management services.
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About Hardaway Concrete Company, Inc.
Hardaway Concrete Company, Inc. is one of the Southeast’s largest independent ready mixed concrete operators. Hardaway serves customers throughout Columbia and Greenville, South Carolina.
About Aggregate Industries
Aggregate Industries, a wholly owned subsidiary of Holcim Ltd., is an international construction and building materials company with leading regional market positions in the United Kingdom and the United States. The company produces aggregates, ready mixed concrete, concrete products, and asphalt.
About McColl Partners, LLC
McColl Partners is an independent investment banking firm specializing in the needs of management and owners of middle-market companies. With significant experience working with private equity groups, entrepreneurs, family-owned businesses, public companies, and divisions of larger companies, the firm is dedicated to offering strategic advice and assistance to its clients regarding mergers and acquisitions and private capital raising assignments.
To learn more about our expertise in the building materials industry, please contact Eric Andreozzi, Brad Winer, or Brian Davis at (704) 333-0525. More information about McColl Partners can be found at www.mccollpartners.com. |
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