Spurlino Materials services the markets of Indianapolis, Indiana and Cincinnati and Dayton, Ohio.
Greystone Group Advises Spurlino Materials on its Sale to Smyrna Ready Mix
SAN DIEGO (December 2017) – Greystone Group LLC, a leading investment bank focused on the construction materials industry, announced today that it advised Spurlino Materials on its sale to Smyrna Ready Mix. Spurlino is one the most respected ready mix producers in the Midwest, with leading positions in Southern Ohio, Northern Kentucky and Indianapolis, Indiana as well as a national ready mix business that is served by 3 portable ready mix plants. “Jim Spurlino has been an industry leader for over 30 years, having built his company one plant at a time. We were fortunate to have an opportunity to advise him on his sale to Smyrna,” said Tim Oitzman, President of Greystone Group.
Based in Tennessee, Smyrna is one of the largest privately owned ready mix producers with over 100 ready mix plants in Florida, Georgia, Tennessee, Kentucky, Ohio and Indiana. Along with its other recently completed acquisitions, Smyrna Ready Mix is the largest ready mix producer in Southern Ohio and Northern Kentucky and is well positioned for further growth in its core markets.
“When I started Spurlino Materials over 17 years ago, I had a passion to build a world class ready mix company that could serve the Southern Ohio markets with high quality product and unparalleled service. When we considered selling our company, we engaged Greystone because of their reputation for executing transactions that are fair for the owners but also opportunistic for our employees,” said Jim Spurlino, founder and CEO of Spurlino Materials.
Greystone Group has completed more than 60 transactions in the construction material industry, including cement, aggregate, ready mix, asphalt, concrete products and construction services. Greystone is considered a leading M&A advisor to the construction materials industry.