A US concrete contact says the new holdings are "add-ons" to existing buyouts in both regions. Basically, it's a strategy to gain a stronger foothold, GlobeSt.com has been told. The acquisition of the L.H. Lacy Co. in North Dallas includes a state-of-the-art, ready-mixed concrete facility. In New Jersey, US Concrete has taken control of Central Concrete Corp. and Central Industries Red Bank Inc., producers of ready-mixed concrete and other industry-related products.
"These acquisitions extend our existing geographic coverage area and allow us to better leverage our management teams and resources in the Dallas-Ft. Worth and New Jersey markets," Eugene P. Martineau, US Concrete's CEO, says in a prepared statement. The New Jersey takeover also expands the Houston-based operation's product line in that market whereas the DFW buy, in part, is aimed at beefing up the available fleet in the North Dallas region.
Founded in 1998, US Concrete now has 77 operating plants that produce about 5.8 million cubic yards of concrete annually. It is considered the sixth largest, ready-mixed concrete producer in the nation.
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