U.S. Concrete Inc., Houston, TX, will acquire Beall Industries, a leading producer of ready-mixed concrete and lime slurry located in the Dallas/Fort Worth Metroplex. Beall Industries is expected to produce annualized revenue during 2000 of approximately $65 million. The company also anticipates it will sign a definitive agreement within the next several days to acquire Atlas Concrete, a company related to Beall Industries, which produces ready-mixed concrete at seven locations throughout Southwest Oklahoma. The combined Texas and Oklahoma businesses operated 15 plants during 1999. The acquisitions will be accounted for under the purchase method of accounting. No other terms were disclosed.
“We are very pleased to announce our largest transaction since our IPO in May of last year,” said Eugene P. Martineau, chief executive officer of U.S. Concrete. “This transaction is an excellent start to the new year and gives us an outstanding position in one of the fastest growing markets in the U.S. The Beall and Atlas acquisitions represent another step in our effort to increase our geographic diversification and expand our operations with a new product line.”
U.S. Concrete Inc. was formed in May to provide ready-mixed concrete and related products to the construction industry in major markets in the United States. The company currently has 41 operating plants producing over 3.8 million cubic yards of concrete annually.
For more information, call 713/499-6200.
