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FGS Global handles Summit Materials as the Denver-based aggregates and cement company agrees to be acquired by Quikrete Holdings for $11.5B.
The $52.5 per share takeover offer represents a 36 percent premium over Summit’s average stock price over the past three months.
The merger with Quikrete’s concrete & cement business will forge a vertically integrated construction materials powerhouse.
The transaction “is a testament to our stellar strategic and financial performance, and agile operational and commercial execution," said Ann Noonan, Summit’s CEO.
Privately held Quikrete is based in Atlanta, and owns brands such as Quikrete, Rinker Materials, US Pipe, Keystone Hardscapes, Spec Mix and Pavestone that serve the commercial, residential and infrastructure sectors in the US and Canada.
The merger, which is subject to Summit shareholder approval, is expected to be completed during the first half of next year.
FGS Global has Jim Barron, Benjamin Spicehandler and Danielle Berg working the Summit account.
The Blueshirt Group handles Lime as the San Francisco-based electric bike/scooter company has filed paperwork for an initial public offering, which will have an expected valuation in the $2B range.
Why CEOs need their CFOs and CCOs on the same page.
ICR handles Rare Earths Americas as the Manchester, Georgia-based company plans an initial public offering valued in the $370M range.
DGA Group handles takeover target Intertek as the London-based quality assurance testing company as it launches a strategic review of its operations.
