Mid-Continent Concrete Company’s downtown Tulsa, Oklahoma plant
Greystone Advises GCC on the sale of its Oklahoma and Arkansas Ready Mix Division to CRH
SAN DIEGO (June 22, 2018) – The Greystone Group, a leading M&A advisory firm to the cement and construction materials industry, announced today that it served as financial advisor to Grupo Cementos de Chihuahua, S.A.B. de C.V. (“GCC”) in its sale of substantially all of its ready mix plants and transportation assets in Oklahoma and northwest Arkansas to CRH Americas, Inc. (“CRH”). GCC will continue to own and operate four ready mix plants in the Fort Smith, Arkansas area.
“GCC’s clear strategy is to expand its cement production and distribution network in the central part of North America, going from northern Mexico to Canada. Our focus in the ready mix business is on markets that can be integrated into our cement network” said Enrique Escalante, CEO of GCC.
“Greystone was critical in negotiating and managing this transaction on behalf of GCC. We have enjoyed a long-term relationship with Greystone and consider them a key component of our transaction team” said Ron Henley, President of GCC of America, Inc.
GCC is a leading supplier of cement, aggregates, concrete and construction-related services in the U.S. and Mexico. Including the Trident Cement plant acquisition, GCC will have eight cement plants with a total production capacity of 5.4 million metric tons; capacity will reach 5.8 million metric tons with the commissioning of the Rapid City, South Dakota expansion during the second half of 2018. Founded in 1941, the Company’s shares trade on the Mexican Stock Exchange under the ticker symbol GCC.
Founded in 1996, Greystone is considered a leading M&A advisor to the construction materials industry, having managed over 60 industry related transactions. Our focus on the construction materials industry allows us to provide unique and valuable insight to both our sell-side and buy-side clients. Since inception in 1996, we have developed unparalleled industry relationships and strong market knowledge which helps our clients achieve optimal results in their M&A transactions.