Harris Williams & Co. Advises Boxley Materials Company on its Pending Sale to Summit Materials
Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide for 25 years, announces the pending sale of Boxley Materials Company (Boxley) to Summit Materials (NYSE:SUM). Boxley is an aggregates-intensive, vertically integrated construction materials company. Harris Williams & Co. is serving as the exclusive advisor to Boxley. The transaction, which is subject to customary closing conditions, is being led by John Neuner, Tim Webb, Ryan Nelson, Mike Williams and Ty Denoncourt of Harris Williams & Co.’s Richmond office.
“Over more than a century, Boxley has built one of the premier, vertically integrated construction materials businesses in the Mid-Atlantic,” said John Neuner, a managing director at Harris Williams & Co. “We are excited to have helped the management team and shareholders find a partner that embraces Boxley’s strong heritage in the region and will continue to grow the business.”
“Our firm has been extremely active in the broader building products and construction materials sectors, and the sale of Boxley represents another marquee transaction for Harris Williams & Co.,” said Tim Webb, a director at Harris Williams & Co. “We have known the Summit Materials team for many years and are excited to see them partner with Boxley as they continue to expand as one of the fastest growing construction materials companies in North America.”
Headquartered in Roanoke, Virginia, Boxley is a vertically integrated producer of construction materials, primarily supplying aggregate, ready-mix concrete, asphalt and paving, and architectural products in central and southwestern Virginia. Boxley’s high-quality products, superior customer service and strong culture make it the supplier of choice in its markets.
Summit Materials is a leading vertically integrated construction materials company that supplies aggregates, cement, ready-mixed concrete and asphalt in the U.S. and British Columbia, Canada. Summit Materials is a geographically diverse, aggregates-based business of scale that offers customers a single-source provider of construction materials and related downstream products in the public infrastructure, residential and nonresidential end markets. Summit Materials has completed more than 35 acquisitions since its founding and continues to pursue growth opportunities in new and existing markets.
Harris Williams & Co. (www.harriswilliams.com), a member of The PNC Financial Services Group, Inc. (NYSE:PNC), is a preeminent middle market investment bank focused on the advisory needs of clients worldwide. The firm has deep industry knowledge, global transaction expertise and an unwavering commitment to excellence. Harris Williams & Co. provides sell-side and acquisition advisory, restructuring advisory, board advisory, private placements and capital markets advisory services.
Harris Williams & Co.’s Building Products & Materials Group has closed over 75 transactions across a broad range of sectors, including production, distribution and services related to building materials, commercial and residential construction; infrastructure and public facilities; repair and remodeling; cabinetry, windows, and doors; flooring and tiles; roofing and siding; HVAC, electrical and plumbing; aggregates; asphalt; ready-mix concrete; cement; and engineering and construction services. For more information on the firm’s Building Products & Materials Group, visit the Building Products & Materials Group’s section of the Harris Williams & Co. website.
Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, which is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business.