Photo courtesy of Heidelberg Materials
Heidelberg Materials North America has made two acquisitions, one in Pennsylvania and the other in Texas, each of which includes the purchase of concrete recycling assets.
The company has entered into a definitive purchase agreement to acquire Flourtown, Pennsylvania-based Highway Materials, Inc., which it calls one of the largest independent aggregates and asphalt producers in the Greater Philadelphia market.
Included with the acquisition are four crushed stone quarries, nine hot-mix asphalt plants, two clean fill operations, a concrete recycling facility, a construction services business and more than 350 employees.
Highway Materials currently is an operating unit of DePaul Construction & Materials, also based in Flourtown. In addition to crushing concrete, Highway Materials operates a discarded C&D materials drop-off site in Plymouth Meeting, Pennsylvania.
“The addition of the Highway Materials business, with its broad range of products and more than 80 years of history in Pennsylvania, is a great opportunity to strengthen the company’s aggregate reserves in this core market while also growing our recycling operations,” says Matteo Rozzanigo, president of the Northeast Region for Heidelberg Materials North America.
Heidelberg Materials also completed the acquisition of Victory Rock, a Gordon, Texas-based producer of aggregates for concrete and asphalt and related products earlier this month. Victory operates two quarries in Texas and also offers concrete recycling services.
“We specialize in mobility," Victory Rock says. "Our portable rock crushing and asphalt & concrete recycling plants make our operations more agile, efficient, and profitable. The value this service has brought to our customers has been great.”
“The acquisition of Victory Rock further solidifies our existing footprint in Texas and expands our reach in the key growth markets of Austin, Killeen/Temple and Fort Worth,” says Chris Hobby, President of the Southwest Region for Heidelberg Materials North America.
Including the previously announced acquisition of Texas-based Aaron Materials, Heidelberg Materials North America, which is based in Irving, Texas, reports the purchase price of those three transactions at approximately $380 million.
“We are excited to welcome the Highway Materials, Victory Rock and Aaron Materials employees to Heidelberg Materials,” says Chris Ward, president and CEO of Heidelberg Materials North America. “The addition of these operations complements our existing aggregates businesses in Texas and Pennsylvania while also adding to our rapidly growing portfolio of circular solutions across North America.”
Heidelberg Materials North America is part of Germany-based Heidelberg Materials, one of the world’s largest integrated manufacturers of building materials and related services.
