Summit Materials and Quikrete Merger Finalized, Reshaping the Building Materials Industry
On February 10, 2025, Summit Materials, Inc. officially completed its much-anticipated merger with Quikrete Holdings, Inc. in a deal valued at approximately $11.5 billion. Each share of Summit Materials was acquired for $52.50 in cash, marking a significant milestone in the construction materials industry. This transaction not only establishes Quikrete as one of the leading players in the sector but also allows Summit to benefit from its extensive resources and product offerings.
With the closing of the merger, Summit Materials' common stock has ceased trading on the New York Stock Exchange (NYSE), and it will no longer be listed on any public market. The company will operate as a privately held subsidiary under Quikrete Holdings.
Summit Materials is recognized as a major producer of aggregates and cement, operating a vertically integrated business model that supplies ready-mix concrete and asphalt. The company has built a reputation for providing high-quality products and exceptional service across the United States and in British Columbia, Canada. Its diverse portfolio caters to several markets, including public infrastructure, residential projects, and non-residential communities.
Quikrete Holdings, originally founded in 1940 and headquartered in Atlanta, Georgia, is renowned as a leading manufacturer of building materials. The merger brings together a wealth of industry knowledge from both companies, enabling them to enhance their competitiveness in the construction sector. Quikrete’s collection of brands, which includes household names such as Spec Mix and Pavestone, complements Summit's operations and expands its distribution capabilities.
Morgan Stanley & Co. LLC and Evercore served as financial advisors for Summit, while Wells Fargo acted as the exclusive financial advisor to Quikrete. Legal representation for both parties included Davis Polk & Wardwell LLP for Summit and Troutman Pepper and Covington for Quikrete. Wells Fargo also committed to providing debt financing to support the merger, solidifying financial backing for this transformative step.
The consolidation of these two giants in the building materials field reflects ongoing trends in the industry oriented toward mergers and acquisitions. As companies strive for greater efficiency and expanded capabilities, this merger is likely to pave the way for additional strategic alliances in the future.
Both companies have a robust history of successful acquisitions and are committed to pursuing high-return growth opportunities that will benefit not only their businesses but also the markets they serve. The end goal remains clear: to leverage their combined strength and resources to better meet the demands of the evolving construction landscape.
For customers and stakeholders, this merger promises an increased range of products and services. With both companies dedicated to quality and innovation, clients can anticipate improvements in service levels, product offerings, and delivery capabilities across North America. As the construction industry continues to grow and adapt post-pandemic, the merger of Summit Materials and Quikrete positions them as formidable leaders equipped to tackle future challenges.
With the closing of the merger, Summit Materials' common stock has ceased trading on the New York Stock Exchange (NYSE), and it will no longer be listed on any public market. The company will operate as a privately held subsidiary under Quikrete Holdings.
Summit Materials is recognized as a major producer of aggregates and cement, operating a vertically integrated business model that supplies ready-mix concrete and asphalt. The company has built a reputation for providing high-quality products and exceptional service across the United States and in British Columbia, Canada. Its diverse portfolio caters to several markets, including public infrastructure, residential projects, and non-residential communities.
Quikrete Holdings, originally founded in 1940 and headquartered in Atlanta, Georgia, is renowned as a leading manufacturer of building materials. The merger brings together a wealth of industry knowledge from both companies, enabling them to enhance their competitiveness in the construction sector. Quikrete’s collection of brands, which includes household names such as Spec Mix and Pavestone, complements Summit's operations and expands its distribution capabilities.
Morgan Stanley & Co. LLC and Evercore served as financial advisors for Summit, while Wells Fargo acted as the exclusive financial advisor to Quikrete. Legal representation for both parties included Davis Polk & Wardwell LLP for Summit and Troutman Pepper and Covington for Quikrete. Wells Fargo also committed to providing debt financing to support the merger, solidifying financial backing for this transformative step.
The consolidation of these two giants in the building materials field reflects ongoing trends in the industry oriented toward mergers and acquisitions. As companies strive for greater efficiency and expanded capabilities, this merger is likely to pave the way for additional strategic alliances in the future.
Both companies have a robust history of successful acquisitions and are committed to pursuing high-return growth opportunities that will benefit not only their businesses but also the markets they serve. The end goal remains clear: to leverage their combined strength and resources to better meet the demands of the evolving construction landscape.
For customers and stakeholders, this merger promises an increased range of products and services. With both companies dedicated to quality and innovation, clients can anticipate improvements in service levels, product offerings, and delivery capabilities across North America. As the construction industry continues to grow and adapt post-pandemic, the merger of Summit Materials and Quikrete positions them as formidable leaders equipped to tackle future challenges.
Topics Business Technology）
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