Sale of Ready Mixed Concrete to Cementos Argos completed

(BOSTON))– Audax Group announced that it has completed the sale of RMCC Group Inc., (a parent of Southern Equipment Company d/b/a Ready Mixed Concrete Company “Ready Mixed”), to Cementos Argos S.A. (“Argos”), a leading Colombian cement company. The transaction valued the enterprise of Ready Mixed at $435 million. Ready Mixed is the leading provider of ready-mixed concrete in North Carolina, South Carolina, and southern Virginia. The Company, acquired by Audax Group in November 2004, has an extensive network of concrete plants and mixing trucks that deliver concrete to thousands of customers in its markets. Geoffrey S. Rehnert, Co-CEO of Audax Group, said “Ready Mixed represents a successful example of how a private equity firm can work closely with management to drive success in a middle market company. During our period of ownership, under the leadership of Jay Loftin and his talented team, the company significantly improved revenues and profitability through both organic growth and successful integration of add-on acquisitions.” Jay Loftin, President and CEO of Ready Mixed, said “The combined effort of the management team and our employees was critical to achieving this successful transaction. It has been a great experience working with Audax Group. Their understanding and commitment to our business was evident throughout. They were a key resource that helped us to achieve a very successful outcome.” Ropes & Gray LLP and Citigroup Global Markets Inc. represented Ready Mixed. JPMorgan and Kilpatrick Stockton LLP represented Argos. ABOUT AUDAX GROUP Audax Group, founded in 1999, is a leading investor in middle market companies. With offices in Boston and New York, Audax manages in excess of $2 billion in equity and mezzanine debt capital. For more information visit the Audax Group website http://www.audaxgroup.com

(Visited 155 times, 1 visits today)

Get involved

Register

As a member of this site you will be able to receive aggregates news relating only to those categories that are most relevant to you, submit job listings for FREE, post questions in the Q&A, and more.

Register Now

Feature your company

The Feature Your Company listing is your custom-made (by us) profile page that allows you to add any of the following content: text, videos, links, images. The page will also be listed on the Featured Company landing page. Over 560 unique aggregates users visit the site per day! Complete the enquiry form now to contact us.

Contact us

Jobs

Are you looking for an aggregate related job? Click here to see our jobs listing supplied by industry experts United Employment.

See Jobs

Advertise

Reach thousands of budget holders and decision makers by promoting your company on the longest established aggregate website in the US & Canada. Or advertise in our emails which are sent to opted-in subscribers according to their chosen categories. All advertising will display correctly on tablets and mobiles as this site is responsive.