Sierra Ready Mix LLC operates two ready mix plants and a sand & gravel pit in Las Vegas, Nevada
Greystone Advises Sierra Ready Mix in its Sale to Summit Materials
SAN DIEGO (May 5, 2016) – The Greystone Group (“Greystone”) announced today that it served as exclusive financial advisor to Sierra Ready Mix LLC (“Sierra”) in its sale to Summit Materials, Inc. (NYSE: SUM). Sierra, founded in 1994, is one of the largest independent suppliers of ready mix and aggregate in Las Vegas, Nevada.
“It has been a privilege to work with Jeff and his team on this transaction. Sierra is one of the best run materials businesses we have seen and they should be proud of what they’ve accomplished,” said Tim Oitzman, President of Greystone.
Sierra is a well-established aggregates and ready mix supplier in the Las Vegas market with an excellent reputation for quality and service. The Company operates a sand and gravel facility and two ready mix concrete plants, and has a well-balanced exposure across all end-use segments.
“The Greystone Group was a pleasure to work with and their professionalism and expertise exceeded all expectations. This was the most important business transaction of my career, as such I needed to work with a firm I could trust. The Greystone Group was that firm. I couldn’t be happier with the outcome and I highly recommend them to anyone considering a sale of their company,” said Jeff Davis, President and CEO of Sierra Ready Mix.
About Summit Materials
Summit Materials is a leading vertically integrated construction materials company that supplies aggregates, cement, ready-mix concrete and asphalt in the United States and British Columbia, Canada. Summit is a geographically diverse, aggregates-based business of scale that offers customers a single-source provider of construction materials and related downstream products in the residential, nonresidential and public infrastructure end markets. Summit has a strong track record of successful acquisitions since its founding and continues to pursue growth opportunities in new and existing markets.
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.