GREYSTONE ANNOUNCES SALE OF USC ATLANTIC TO SRM CONCRETE
SOUTHLAKE, TEXAS | November 25, 2022 – Greystone Group announced today that it advised Vulcan Materials Company (“Vulcan”) on the sale of USC Atlantic, LLC to SRM Concrete (“SRM”). Greystone initiated and managed the transaction and acted as exclusive financial advisor to Vulcan. USC Atlantic operates 28 ready mix locations in New York, New Jersey and Pennsylvania. The transaction is one of SRM’s largest acquisitions to date with over 600 employees.
“We have enjoyed an excellent relationship with Vulcan Materials Company for many years and it was a privilege to advise them in this transaction,” said Tim Oitzman, President of Greystone. Greystone previously advised Vulcan on its acquisition of US Concrete in 2021.
“Working with the team at Greystone, we were able to identify the best strategic buyer and obtain a fair valuation during the process,” said Stan Bass, Vulcan’s Chief Strategy Officer. “We selected Greystone to manage this process because of their industry knowledge and extensive relationships that proved beneficial in this transaction.”
About Vulcan Materials Company
Vulcan Materials Company (NYSE: VMC), a member of the S&P 500 Index with headquarters in Birmingham, Alabama, is a leading producer of construction aggregates – primarily crushed stone, sand and gravel – and a major producer of aggregates-based construction materials, including asphalt and ready-mixed concrete.
For additional information about Vulcan, go to www.vulcanmaterials.com.
About SRM Concrete
SRM Concrete is the largest privately-owned ready-mix concrete manufacturer in the country. Established in 1999 by Mike and Melissa Hollingshead in Smyrna, Tennessee, the family-owned company owns and operates an expansive network of ready-mix concrete plants, quarries, cement terminals and other ancillary services. SRM has successfully acquired and integrated over eighty companies since 2005. Following the acquisition of USC Atlantic, SRM employs over 6,000 team members with locations that span 19 states.
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.