GREYSTONE ADVISES ARIZONA MATERIALS ON SALE TO SUMMIT MATERIALS
SOUTHLAKE, TX | May 22, 2023 – The Greystone Group announced today that it advised Arizona Materials, LLC on the sale of its aggregate and ready mix business to Summit Materials, LLC (“Summit”). Greystone initiated and managed the transaction and acted as exclusive financial advisor to Arizona Materials.
Arizona Materials is the largest locally owned and operated ready mix producer in the state of Arizona and the third largest ready mix supplier in the Phoenix metropolitan market. The company operates aggregate and ready mix facilities which are supported by a fleet of ready mix trucks, aggregate haul trucks and cement tankers.
“The owners and management team of Arizona Materials have built an amazing company over the past 20 years” said Tim Oitzman, president of Greystone. “The Phoenix market is a strong materials market and Arizona Materials is well positioned to continue servicing the market with its dedicated employees and strategically located aggregate and ready mix assets.”
“Greystone came highly recommended to us by other industry professionals. They worked diligently throughout the process and found creative solutions to ultimately structure a transaction that was advantageous for both parties. We are excited to have a buyer that will continue to operate the business with the same values we’ve created and for the opportunities that the employees will have as part of a strong and growing company like Summit Materials” said Maury Tanner, one of the owners of Arizona Materials.
About Summit Materials
Summit Materials is a leading vertically integrated materials-based company that supplies aggregates, cement, ready-mix concrete and asphalt in the United States and British Columbia, Canada. Summit is a geographically diverse, materials-based business of scale that offers customers a single-source provider of construction materials and related downstream products in the public infrastructure, residential and non-residential 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.
For more information about Summit Materials, please visit www.summit-materials.com.
About The Greystone Group
Greystone is considered a leading M&A advisor to the construction materials industry, having managed over 70 industry transactions. Our focus on the construction materials industry allows us to provide unique and valuable insight to both our sell-side and buy-side clients. Since inception in 1996, we have developed unparalleled industry relationships and strong market knowledge which helps our clients achieve optimal results in their M&A transactions.