GREYSTONE ADVISES SIMPSON MATERIALS ON SALE OF BARNHART QUARRY TO NEW FRONTIER MATERIALS
SOUTHLAKE, TEXAS | October 3, 2023 – Greystone Advisors LLC (“Greystone”) announced today that it advised Simpson Materials Company LLC (“Simpson”) on the sale of its Barnhart Quarry in Jefferson County, Missouri to New Frontier Materials (“New Frontier”). Greystone initiated and managed the transaction and acted as exclusive financial advisor to Simpson. The terms of the transaction were not disclosed.
The Barnhart Quarry is strategically located on the banks of the Mississippi River just south of St. Louis, Missouri. The site encompasses approximately 350 acres and contains a long-term supply of construction grade and high calcium limestone reserves. The Barnhart Quarry boasts two independent processing plants and a river terminal that utilizes side-by-side conveyors to load material directly onto barges. Mike Clarke, CEO of New Frontier said, “from our first meeting with the Simpson family, we admired their commitment to customer service, employee safety, and long-term thinking. We are committed to investing in the operation to carry forward these priorities and continually improve the service, safety, and overall value for all stakeholders.”
Commenting on the transaction, Mark Simpson said, “It was important to us to find a buyer that will provide future opportunities to the employees at the Barnhart Quarry. We were impressed by New Frontier’s track record and are excited for the continued growth of the quarry and the employees under their leadership. We’re grateful for Tim and Reed’s expertise in negotiating and managing this transaction. We’ve enjoyed a long-term relationship with Greystone and glad we put our trust in them to help us accomplish our goals.”
“The Simpson’s have done a tremendous job developing the quarry over the past seven years. We greatly value our relationship with the Simpson’s and are honored to represent them in the sale of a portion of their business,” said Reed Shafer, Vice President of Greystone.
About New Frontier Materials
New Frontier Materials was formed in 2020 to partner with, acquire, and grow companies in the aggregates and construction materials industry. The company believes in responsible ownership and stewardship of the local workforce, environment, and community.
About Greystone Advisors LLC
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.