Heidelberg Materials announced today its definitive purchase agreement to acquire Highway Materials, Inc., a leading independent aggregates and asphalt producer in the Greater Philadelphia market. This acquisition includes four crushed stone quarries, nine hot-mix asphalt plants, two clean fill operations, a concrete recycling facility, a construction services business, and over 350 employees.
Earlier in July, Heidelberg Materials expanded its presence in Texas with the acquisitions of Victory Rock and Aaron Materials. Victory Rock is known for its high-quality aggregates for concrete and asphalt, operating two strategic quarries. Aaron Materials is an established concrete recycler and materials producer, with operations encompassing concrete crushing, stabilised materials, and a volumetric concrete business.
“These latest US acquisitions reflect the progress of our ongoing efforts to optimise our portfolio by expanding our presence in this key region,” stated Dr Dominik von Achten, Chairman of the Managing Board. “We will continue on our growth trajectory in our key markets around the globe while pursuing the industry’s most ambitious sustainability goals.”
Chris Ward, President and CEO of Heidelberg Materials North America, added, “We are excited to further expand our footprint in two of the fastest-growing areas in the US. 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.”
With these three strategic acquisitions, Heidelberg Materials reinforces its commitment to enhancing its presence in core growth markets through smaller- to medium-sized bolt-on assets. This approach allows for significant synergies from joint management and shared resources. The total purchase price for the transactions is approximately $380 million, with a combined expected post-synergies EBITDA of around $50 million.
Heidelberg Materials remains dedicated to achieving net zero and advancing the circular economy in North America. Recently, the company converted its cement plant in Speed, Indiana, to a slag grinding facility, supporting the increased demand for sustainable products in the Midwest market.
About Heidelberg Materials
Heidelberg Materials is one of the world’s largest integrated manufacturers of building materials and solutions, holding leading market positions in cement, aggregates, and ready-mixed concrete. With representation in more than 50 countries and around 51,000 employees at nearly 3,000 locations, Heidelberg Materials is committed to environmental responsibility. As a leader in carbon neutrality and the circular economy within the building materials industry, the company is dedicated to developing sustainable building materials and solutions for the future, leveraging digitalisation to create new opportunities for its customers.
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