Summit Materials, based in Washington D.C., acquired Industrial Asphalt Inc.; Asphalt Paving Co. of Austin Inc.; and Ramming Paving Co. Ltd. in Austin, Texas. “We are very pleased to welcome the new companies and their employees to Summit. These businesses are a great combination, and together with RK Hall in northeast Texas, they expand Summit’s presence in the state,” said Tom Hill, CEO of Summit Materials.
- Industrial Asphalt Inc. led by President Jill Shackelford, is based in South Austin and operates a quarry and two asphalt plants.
- Asphalt Paving led by Joseph Jackson is also based in Austin and is a longstanding paving business.
- Ramming Paving Co. Ltd, led by CEO John Ramming, is a quarry, asphalt and paving-services company with operations in Austin and San Antonio.
All the management teams will remain in place and will continue developing the businesses under Summit management. “While having worked with Asphalt Paving in the past, I am delighted to be joining up with Summit and Ramming,” said Shackelford.
“We have been following the growth of Summit since its inception, and are proud to become a part of it,” Ramming said. “We are looking forward to working with Industrial Asphalt and Asphalt Paving to better serve our customers in Austin and San Antonio.”
Summit Materials was formed in 2009 to develop a leading business in the aggregates and heavy building-materials sector through strategic acquisitions, according to the company. The company was founded by Hill and a group of investors that include members of its management team, Blackstone Capital Partners V L.P., and Silverhawk Capital Partners. Hill is the former CEO of Oldcastle Inc., the U.S. division of CRH, Plc. To date Summit Materials has completed 20 acquisitions, and through its three regions, East, Central and West, it conducts operations in Kentucky, Tennessee, Virginia, Kansas, Missouri, Utah, Wyoming, Colorado, Texas, Arkansas, Oklahoma, Iowa and Idaho.