Amcon Block and Precast, Inc. operates two block plants, two sand and gravel deposits and a building products showroom
Greystone Advises Amcon Block on Sale to Cemstone
SAN DIEGO (August 31, 2016) – The Greystone Group (“Greystone”) announced today that it served as exclusive financial advisor to Amcon Block & Precast, Inc. (“Amcon”) in its sale to Twin City Concrete Products Co. (dba TCC Materials), part of the Cemstone Family of Companies. Amcon, founded in 1977, is the largest independent producer of concrete block in Minnesota.
“Amcon is one of the most respected concrete products companies in the Upper Midwest and it was a great privilege to work with Pederson family. They have built a great business over the past 40 years and found a great buyer to carry on their tradition” said Tim Oitzman, president of Greystone.
Amcon is a well-established concrete block and aggregates producer in the Minnesota market with an excellent reputation for quality products and industry leading service. The Company operates two block plants, two sand and gravel deposits and a building products showroom.
“We met Greystone several years ago and they helped us evaluate our strategic options. We couldn’t be happier with the outcome and are pleased that we could find a buyer that could be opportunistic for our employees as well” said David Pederson, Chairman and CEO of Amcon.
As of September 1, 2016 Amcon will continue to serve their strong customer base, now under the Amcon Concrete Products, LLC name.
About Cemstone and TCC Materials
Cemstone owns and operates a network of ready-mix concrete plants and aggregate facilities, which offers a full line of premium ready-mixed concrete, decorative concrete, high performance concrete, aggregate products, concrete masonry units, brick and decorative stone. TCC Materials owns and operates manufacturing facilities across six states in the Upper Midwest which offers a complete line of packaged concrete, masonry products, concrete masonry units, decorative rock, and concrete repair programs. Founded by the Becken family in 1927, Cemstone and TCC Materials offer truly integrated and sustainable “concrete & packaged solutions” to serve the needs of its customers across North America and Canada.
Greystone is considered a leading M&A advisor to the construction materials industry, having managed over 60 industry related transactions valued in excess of $3.0 billion. The Amcon transaction is the 5th construction materials industry transaction managed by Greystone in 2016.