Harbor Ready-Mix has served the Peninsula and South Bay areas of San Francisco since 1985.
Greystone Advises Harbor Ready-Mix on its Sale to U.S. Concrete
SAN DIEGO (October 2017) – The Greystone Group (“Greystone”) announced today that it served as exclusive financial advisor to Harbor Ready-Mix (“Harbor”) in its sale to U.S. Concrete, Inc. (NASDAQ: USCR). Harbor, founded in 1985, is a premier ready mix producer that serves the commercial and residential sectors in the Peninsula and South Bay areas of San Francisco.
“Greystone streamlined this transaction and ensured our interests were protected at all times throughout the process. We are excited to join U.S. Concrete, Inc. and continue serving our customers with the high-quality products and level of personal service they’ve grown accustom to over the past 32 years” said Bob Mann, President of Harbor Ready-Mix.
In conjunction with the acquisition of Harbor, U.S. Concrete, Inc. also acquired A-1 Materials, Inc. (“A-1”) and the assets of L.C. Frey Co., Inc., a landscape materials business related to A-1’s operations.
“These acquisitions are indicative of our team’s ability to find and integrate high-quality businesses in attractive markets,” said U.S. Concrete President, CEO and Vice Chairman, William J. Sandbrook. “Expanding our market presence and diversifying our customer base in this vibrant and growing market is very exciting. Pent up demand from recent weather delays and a significantly undersupplied residential housing market will allow us to gain immediate traction for long-term success. I am pleased to welcome Harbor and A-1 to the U.S. Concrete family of companies.”
About U.S. Concrete, Inc.
U.S. Concrete serves the construction industry in several major markets in the United States through its two business segments: ready-mixed concrete and aggregate products. The Company has 162 standard ready-mixed concrete plants, 17 volumetric ready-mixed concrete facilities, and 17 producing aggregates facilities. During 2016, U.S. Concrete sold approximately 8.1 million cubic yards of ready-mixed concrete and approximately 5.6 million tons of aggregates.
Greystone is considered a leading M&A advisor to the construction materials industry, having managed over 60 industry related transactions valued in excess of $3.0 billion.