U.S. Concrete, Inc. completed the acquisition of Coram Materials Corp. for a purchase price of $142 million and significantly expanded its East Coast aggregates reserves. “The acquisition should produce a margin profile in excess of the company’s average within the first full year of ownership,” said William J. Sandbrook, chairman and CEO, in a press release. “Post synergies, which we expect to achieve within two years, the deal represents a multiple of approximately seven times EBITDA.”

The acquisition includes significant, premium sand reserves that will not only supply U.S. Concrete’s ready-mix operation in New York City, but also allow for external sales to third-party customers. “Coram’s 50 million tons of reserves, located in the quickly depleting Long Island sand market, increases the vertical integration of our New York operations, strengthens our competitive position, and advances the continuation of our strategy of expanding into higher margin aggregates businesses,” Sandbrook noted. “Following our successful Polaris acquisition, we continue to seek out accretive opportunities of coupling the pull through capabilities of our large regional footprints of ready-mixed concrete operations with attractive aggregate assets.”