US Concrete buys Heavy Materials and Spartan Concrete Products

US Concrete has bought Heavy Materials and Spartan Concrete Products, both in the US Virgin Islands serving Caribbean markets.

Heavy is a primary producer of ready-mixed concrete and aggregates through four ready-mixed concrete batch plants, 32 mixer trucks, and two quarries with total aggregates reserves of approximately 40 million tons.

Heavy also leases an industrial waterfront property that it uses as a marine terminal and sales yard. Heavy is a key aggregates supplier to Spartan, a ready-mixed concrete producer, operating one batch plant and 16 mixer trucks.

“The combined operations of Heavy and Spartan creates a stronger vertically integrated platform to serve an extensive base of customers throughout the US Virgin Islands and several other islands throughout the Caribbean,” US Concrete  said in a statement.

“The end-market exposure of the combined operations is generally balanced across commercial, infrastructure and residential project activity,” it said.

“These acquisitions are highly aligned with our strategic goal to establish leadership positions in resilient, attractive markets and further enhance our mix of vertically integrated operations,” said William J. Sandbrook, president, US Concrete.

“We plan to create a more efficient operating dynamic in the U.S. Virgin Islands and the Caribbean by combining the efforts of these two separately owned businesses into one cohesive unit.

“Additionally, the combined operations provide a highly strategic platform to capitalize on leading market positions and growing regional demand to serve as the supplier of choice. We are thrilled to welcome Heavy and Spartan to the US Concrete family of companies.”

Source

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