Oldcastle Materials Inc. acquired Central Supply Inc. and Central Trucking, Clarksburg, W.Va., according to The Orr Group, a Winston-Salem, N.C.- based investment banking firm. Central Supply consists of six ready mix concrete plants, one block plant and five building supply stores. All operations are located in West Virginia and will join Oldcastle Materials’ Mid-Atlantic Division.
“The acquisition of the Central Supply companies is Oldcastle’s first acquisition into ready mix concrete in West Virginia,” said Willie Crane, president, Appalachian Materials Group North. “For almost 100 years, Central Supply has been providing its customers with high quality products and services. It’s a tradition that will continue. We welcome our new employees and look forward to expanding our services to the region.”
The Orr Group played a critical role in the deal. “I grew-up in the ready-mixed concrete and construction supply business. I had a good handle on how to sell those products, but after initial forays into negotiating the disposition of my business, I quickly realized that a professional advisor would be worth my investment,” said George Finly, president, Central Supply Co. “The Orr Group's experience with and knowledge of my industry made them a logical choice to help guide the process. They proved to be a great partner and helped complete my transaction in a thorough, timely and successful manner. I would give them my unqualified recommendation.”
Throughout its engagement with Central Supply, The Orr Group provided advice to the shareholders of the company, including setting valuation expectations, conducting a defined marketing process, structuring the transaction and leading the deal team through closing. By understanding the goals of the shareholders, properly assessing market conditions and conducting a well-designed process, The Orr Group helped the Central Supply shareholders complete a successful transaction, according to the company.