Greystone Advises Prowers on Sale to Brannan Sand & Gravel
SOUTHLAKE, TX | November 18, 2021 – The Greystone Group announced today that it advised Prowers Holding Company, LLC (“PHC”) on the divestiture of Prowers Aggregate Operators, LLC (“Prowers”) to Brannan Sand and Gravel Company, LLC (“Brannan”). Prowers is the largest aggregate producer in Southeast Colorado and a major importer of high-quality sand to the Dallas-Fort Worth Metroplex. Greystone managed the transaction and acted as exclusive financial advisor to PHC.
PHC founded Prowers in 2016, after recognizing the lack of high-quality construction aggregates in the region. Prowers quickly became known for its customer service and consistent product quality. With direct access to BNSF rail, Prowers began importing sand into Fort Worth in 2018. Prowers expanded its mining permit in 2021 and is now one of the largest permitted aggregate operations in Colorado. “We were fortunate to work with Karl Nyquist and Todd Lambert on the Prowers divestiture. They have built a fantastic business supplying the region with high-quality aggregates as well as developing the rail strategy to import material into the DFW Metroplex” said Tim Oitzman, President of Greystone.
Commenting on the transaction, Karl Nyquist said, “When we thought of divesting Prowers, Greystone was highly recommended because of their unique focus and knowledge of the aggregates industry. We had an existing relationship with Brannan and are excited Prowers will remain locally owned and operated, as it presents a great opportunity for our employees and the community.”
About Brannan Sand and Gravel
Brannan is a leading vertically integrated construction materials company serving the Denver metro area. Brannan produces and supplies asphalt and ready mix concrete products and provides asphalt paving and specialized construction services in the greater Denver metro area. The Company operates out of four divisions: Brannan Sand and Gravel, Brannan Ready Mix, Brannan Material Sales and Brannan Construction.
Greystone is considered a leading M&A advisor to the construction materials industry, having managed over 60 industry related 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.