Dr Dominik von Achten. Image: Heidelberg Materials
Heidelberg Materials has completed a trifecta of acquisitions to strengthen its position in the United States of America.
The major aggregates producer has confirmed a definitive purchase agreement with Highway Materials, an aggregates producer in Greater Philadelphia. Highway Materials is one of the largest independent aggregates and asphalt materials in the region.
Under the terms of the agreement, four crushed stone quarries, nine hot-mix asphalt plants, two clean fill operations, a concrete recycling site, a construction services business and more than 350 employees will move under the Heidelberg Materials banners.
It follows Heidelberg Materials signing off on two more US-based acquisitions earlier this month. The Texas acquisitions included aggregate producer Victory Rock and concrete recycler Aaron Materials.
“These latest US acquisitions reflect the progress of our ongoing efforts to optimise our portfolio by expanding our presence in this key region,” said Heidelberg Materials managing board chairman Dr Dominik von Achten.
“We will continue on our growth trajectory in our key markets around the globe while pursuing the industry’s most ambitious sustainability goals.”
According to the company’s release, the total purchase price for the transactions is approximately $380 million with a combined expected post synergies EBITDA of around $50 million.
The announcement follows Heidelberg Materials’ conversion of its facility in Speed, Indiana, into a slag grinding facility.
“We are excited to further expand our footprint in two of the fastest-growing areas in the US,” Heidelberg Materials North America president and chief executive officer Chris Ward said.
“The addition of these operations complements our existing aggregates businesses in Texas and Pennsylvania while also adding to our rapidly growing portfolio of circular solutions across North America.”
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