SOUTHLAKE, TX | August 1, 2024 – The Greystone Group announced today that it advised Carver Sand & Gravel (“Carver”) on its sale to Heidelberg Materials North America (“Heidelberg”).  Greystone initiated and managed the transaction and acted as exclusive financial advisor to Carver.   

Carver is the largest aggregate producer in the Capital Region of New York and operates four quarries, three sand and gravel facilities, two asphalt plants, a trucking division and two maintenance facilities.  Carver employs approximately 200 people. 

“Carver Laraway has built an amazing materials business that has grown over the past 28 years to become the largest aggregate producer in the Capital Region” said Tim Oitzman, president of Greystone.  “The sale to Heidelberg will facilitate continued growth of Carver Sand & Gravel and allow Carver Companies to continue to expand its rapidly growing maritime and construction businesses.”

“We’re excited for the future of Carver Sand & Gravel under Heidelberg’s ownership and feel this is a great fit for both the employees and for the remaining Carver Companies’ operations. The opportunities for growth through our continued collaboration and synergies will go far beyond the Carver Sand & Gravel transaction” said Carver Laraway, founder and CEO of Carver Companies.  “The Greystone team came highly recommended and we’re grateful to be able to utilize their experience and expertise throughout this process to maximize stakeholder value.”

About Heidelberg Materials

Based in Irving, Texas, Heidelberg Materials North America is part of Heidelberg Materials, one of the world’s largest integrated manufacturers of building materials and solutions.   

About Greystone

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.