StonePoint Materials Announces Acquisition of Road Builders
PHILADELPHIA, Dec. 4, 2019 /PRNewswire/ -- StonePoint Materials LLC ("StonePoint") today announced the acquisition of Road Builders, LLC ("Road Builders"). Road Builders is one of Kentucky's oldest materials and paving construction operations, serving Western Kentucky with two quarries, three asphalt plants, and paving and construction crews.
Founded in 1948 and further expanded in 1988 by owners John Stovall and Bernice Cornette, Road Builders is currently owned and operated by Teresa Dozer and Laura Dozer, the third and fourth generation owners, respectively. The acquisition of Road Builders will complement StonePoint's subsidiaries Winn Materials and McIntosh Construction in Western Tennessee and Kentucky.
"Road Builders is an exciting opportunity to add a highly experienced team and excellent assets as we expand further into Kentucky," said Colin Oerton, Chief Executive Officer of StonePoint. "Laura and Terri have built on a long legacy of quality work, and we look forward to continuing that legacy."
Laura Dozer remarked, "It was a difficult decision to sell the company my family has owned for 70 years, but Terri and I immediately felt comfortable with the StonePoint team and are confident it is the best home for our employees."
"The acquisition of Road Builders continues to demonstrate our thesis of investing in founder-owned companies with strong market share that want to partner with one of the leading independent aggregate producers in North America," said Aaron Wolfe, Managing Director at Sun Capital Partners, whose affiliate owns StonePoint. "We look forward to working with StonePoint to continue to expand its geographic presence and scale."
About StonePoint Materials
StonePoint Materials is a leading producer of crushed stone, sand and gravel serving diverse end markets including infrastructure, commercial and residential construction, and energy. Operating across nine states, StonePoint has approximately 9.0 million tons of annual aggregates production and offers complementary asphalt production and paving services in Tennessee and Kentucky. StonePoint operates several subsidiaries including Laurel Aggregates, Winn Materials, Southern Aggregates, McIntosh Construction, and Road Builders. For more information on StonePoint, please visit our website at www.stonepointmaterials.com or contact Nicholas Coder, VP Business Development at 215-645-4379 or [email protected].
About Sun Capital Partners, Inc.
Sun Capital Partners, Inc. is a global private equity firm focused on identifying companies' untapped potential and leveraging its deep operational and financial resources to transform results. Sun Capital is a trusted partner that is recognized for its investment and operational experience, including particular expertise in business and consumer services, healthcare, industrial and consumer sectors. Since 1995, Sun Capital has invested in more than 375 companies worldwide with revenues of approximately $50 billion across a broad range of industries and transaction structures. Sun Capital has offices in Boca Raton, Los Angeles and New York, and an affiliate with offices in London.
SOURCE StonePoint Materials
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