Heidelberg Materials Further Strengthens U.S. Footprint with Acquisitions in Texas and Pennsylvania
16 July 2024 - 10:17PM
Heidelberg Materials North America announced today that it has
entered into a definitive purchase agreement to acquire Highway
Materials, Inc., one of the largest independent aggregates and
asphalt producers in the Greater Philadelphia market. Included with
this acquisition are four crushed stone quarries, nine hot-mix
asphalt plants, two clean fill operations, a concrete recycling
facility, a construction services business and more than 350
employees.
“The addition of the Highway Materials business, with its broad
range of products and more than 80 years of history in
Pennsylvania, is a great opportunity to strengthen the company’s
aggregate reserves in this core market while also growing our
recycling operations,” said Matteo Rozzanigo, President of the
Northeast Region for Heidelberg Materials North America.
Earlier this month, the company successfully acquired Victory
Rock, a producer of high-quality aggregates for concrete and
asphalt as well as other related products with two well-positioned
quarries in the greater Texas Triangle.
“The acquisition of Victory Rock further solidifies our existing
footprint in Texas and expands our reach in the key growth markets
of Austin, Killeen/Temple and Fort Worth,” said Chris Hobby,
President of the Southwest Region for Heidelberg Materials North
America.
With these two acquisitions plus the previously announced
acquisition of Texas-based Aaron Materials, Heidelberg Materials
North America further strengthens its materials and recycling
businesses in its core markets of Texas and Pennsylvania. The
purchase price for these transactions totaled approximately $380
million with a combined expected post synergies EBITDA of around
$50 million.
“We are excited to welcome the Highway Materials, Victory Rock
and Aaron Materials employees to Heidelberg Materials,” said Chris
Ward, President and CEO of Heidelberg Materials North America. “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.”
About Heidelberg Materials North America
Based in Irving, Texas, Heidelberg Materials North America is
part of Heidelberg Materials, one of the world's largest integrated
manufacturers of building materials and solutions. At the center of
our actions lies our responsibility for the environment. We are
pioneers on the road to carbon neutrality and circular
construction. We’re developing new, sustainable building materials
as well as intelligent digital solutions.
Jeff Sieg
Heidelberg Materials North America
9726536011
jeff.sieg@heidelbergmaterials.com