The Odessa cement plant in Odessa, Texas
Greystone Advises GCC on the Acquisition of the Odessa Cement Complex
SAN DIEGO (November 28, 2016) – 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 the US$306 million acquisition of certain cement and construction materials assets owned by CEMEX, S.A.B. de C.V. (“CEMEX”). The assets included a cement plant located in Odessa, Texas; two cement distribution terminals located in Amarillo and El Paso, Texas, and the concrete, aggregates, asphalt and building materials businesses in El Paso, Texas and Las Cruces, New Mexico.
“We have enjoyed a relationship with GCC for over 20 years, dating back to its initial U.S. cement plant acquisition,” said Tim Oitzman, President of Greystone. “The Odessa acquisition was the result of a long-term strategic plan that we were privileged to be a part of developing,” said Oitzman.
“Greystone was a key part of our acquisition team. From the initial valuation to negotiating and structuring the transaction; Greystone advised us every step of the way,” said Jaime Fernandez, Director of Planning for GCC.
GCC is a leading supplier of cement, aggregates, concrete and construction-related services in the United States and Mexico. The Company has annual cement production capacity of 5.0 million tons. Founded in 1941, the Company’s shares trade on the Mexican Stock Exchange under the ticker symbol GCC.
Founded in 1996 and celebrating its 20th anniversary, Greystone is considered a leading M&A advisor to the cement and construction materials industry, having managed over 60 industry related transactions valued in excess of $3.0 billion. The acquisition by GCC was the 6th construction materials industry transaction managed by Greystone in 2016.