U.S. Concrete
| Company type | Public |
|---|---|
| Industry | Construction materials |
| Founded | 1999 |
| Headquarters | Euless, Texas , United States |
Area served | Texas, California, New Jersey, New York, Oklahoma, Philadelphia, U.S. Virgin Islands, Washington D.C. |
| Products | Ready-mixed concrete, crushed stone, sand, gravel |
| Parent | Vulcan Materials Company (since 2021) |
U.S. Concrete, Inc. is a U.S.-based enterprise specializing in the production of concrete and heavy construction aggregates. Established in 1999 and headquartered in Euless, Texas, the company focuses on manufacturing ready-mixed concrete and various aggregates. It caters to a wide array of markets spanning Texas, California, New Jersey, New York, Oklahoma, Philadelphia, the U.S. Virgin Islands, and Washington D.C..
History
From its inception in 1999 through 2001, U.S. Concrete expanded rapidly by acquiring 21 firms and securing $35 million via an initial public offering (IPO). Between 2002 and 2003, it enhanced its aggregates business through a tuck-in acquisition, subsequently emphasizing cross-selling strategies starting in 2004.
The company sought Chapter 11 bankruptcy protection on April 29, 2010, and successfully emerged from it on August 31 of the same year after eliminating $272 million in debt.
On October 30, 2012, Central Concrete Supply Co., Inc., a U.S. Concrete subsidiary, completed the acquisition of Bode Gravel Co. and Bode Concrete LLC.
Later that year, in December 2012, U.S. Concrete divested Smith Precast, Inc.’s assets for $4.27 million to Jensen Enterprises, thereby optimizing its operational focus.
A significant growth phase occurred in 2015 with the purchase of Ferrara Bros. Building Materials located in Queens, New York, which notably extended the company’s reach across all five boroughs. The following year, acquisitions such as Jenna Concrete, NYCON Supply Co., and Kings Ready Mix further fortified its operations within New York City.
In 2017, U.S. Concrete executed its largest acquisition by acquiring Polaris Materials, a construction aggregate producer based in British Columbia. This move broadened its geographic coverage to include Southern California and Hawaii. That same year also saw the acquisition of Corbett Aggregate Companies situated in Quinton, New Jersey.
The company’s aggregate assets expanded again in 2020 with the procurement of Coram Materials on Long Island, New York.
In June 2021, Vulcan Materials Company announced plans to acquire U.S. Concrete for $1.3 billion at $74 per share—a premium of approximately 30%. This acquisition aimed to integrate operations while establishing a debt-free subsidiary with robust working capital. The transaction received board approval and was anticipated to finalize during the latter half of 2021.
Products and services
U.S. Concrete, Inc. provides ready-mixed concrete as well as crushed stone, sand, and gravel products. By 2019, it operated a network comprising 176 conventional ready-mixed concrete plants, 15 volumetric concrete facilities, and 22 aggregate production locations. Additionally, its service offerings include building materials retail outlets, transportation services for hauling, and brokerage sales of products.
Research and Development
U.S. Concrete launched its National Research Laboratory in 2009 with the goal of advancing supplementary cementitious materials (SCMs) to enhance concrete quality. The firm partners with academic researchers from UCLA and Arizona State University. It employs lime slurry alongside ARIDUS® technology, which features rapid-drying and self-desiccating properties, to effectively manage moisture problems in flooring applications. In 2012, the company divested its subsidiary, Arizona Precast Operations.