Greystone Advises Farmer Holding Company on the Acquisition of Razorback Concrete
SOUTHLAKE, TX | January 31, 2022 – The Greystone Group announced today that it advised Farmer Holding Company, Inc. (“Farmer”) on its acquisition of Razorback Concrete Company (“Razorback”), a wholly owned subsidiary of Summit Materials (NYSE: SUM). Razorback is a leading producer of aggregates and ready mix in central and northeast Arkansas.
Razorback, founded in 1965, operates an aggregate production and distribution network in northeast Arkansas and is integrated with 14 active ready-mix plants serving the Little Rock, Jonesboro and West Memphis, Arkansas markets. The transaction includes 65 million tons of permitted aggregate reserves, 84 ready mix trucks and 136 non-union employees. Kirk Farmer, Vice President of Farmer Holding Company, said “Razorback is very complimentary to our materials business and we are excited to welcome the Razorback employees to the Farmer family of companies. We have enjoyed a long-term relationship with Summit and look forward to strengthening that relationship.”
“We value our relationship with the Farmer Companies that spans nearly 20 years. We are grateful that they trust us as a buy-side advisor” said Tim Oitzman, President of Greystone. “We are excited to help them achieve continued growth in the construction materials industry.”
“Greystone has become a trusted advisor to our company over the years. We believe that Greystone’s knowledge of the construction materials business gives us a competitive advantage in any transaction” said Kirk Farmer.
About Farmer Companies
Founded in the late 1940’s and headquartered in Jefferson City, Missouri, Farmer Companies is a leading producer of construction aggregates, asphalt production, asphalt paving, construction services, and ready-mixed concrete in Missouri, Kansas, Arkansas, and Tennessee. Farmer Companies also operates Capital Sand Proppants, a superior frac sand supplier serving multiple basins across North America.
For over 25 years, Greystone has been considered a leading M&A advisor to the construction materials industry, having managed over 70 industry related transactions. In the past 12 months, Greystone has been one of the most active advisory firms in the construction materials industry, managing approximately $2.2 billion of both buy-side and sell-side transactions. Its focus on the construction materials industry allows the firm to provide unique and valuable insight to both its sell-side and buy-side clients. Since inception in 1996, Greystone has developed unparalleled industry relationships and strong market knowledge which helps its clients achieve optimal results in their M&A transactions.