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July 30, 2015 3:04 AM ET

Construction Materials

Company Overview of Summit Materials, LLC

Company Overview

Summit Materials, LLC, through its subsidiaries, operates as a construction materials company in the United States and Canada. The company operates through Central Region, West Region, and East Region segments. It manufactures and sells aggregates and cement; and related downstream products comprising ready-mixed concrete, asphalt paving mix, and concrete products. The company also provides road paving and related construction services. It offers its products and services to construction industry comprising private residential and non-residential construction, as well as public infrastructure projects. The company was founded in 2008 and is headquartered in Denver, Colorado. Summit Materials...

1550 Wynkoop Street

3rd Floor

Denver, CO 80202

United States

Founded in 2008

3,990 Employees

Phone:

303-893-0012

Fax:

303-893-6993

Key Executives for Summit Materials, LLC

Founder, Chief Executive Officer, President and Director
Age: 59
Chief Financial Officer
Age: 59
Chief Operating Officer and East Region President
Age: 54
President of West Region
Age: 44
President of Central Region
Age: 45
Compensation as of Fiscal Year 2015.

Summit Materials, LLC Key Developments

Summit Materials, LLC and Summit Materials Finance Corp. Issue $350.0 Million Aggregate Principal Amount of its 6.125% Senior Notes Due 2023

On July 8, 2015, Summit Materials, LLC and Summit Materials Finance Corp. issued and sold $350.0 million aggregate principal amount of their 6.125% Senior Notes due 2023, which mature on July 15, 2023, pursuant to an indenture dated as of July 8, 2015, by and among the Issuers, the subsidiary guarantors named on the signature pages thereto (the Guarantors) and Wilmington Trust, National Association, as trustee (the Trustee) (the Indenture). The Notes were sold within the United States only to qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the Securities Act), and outside the United States to non-U.S. persons in reliance on Regulation S under the Securities Act. The Notes were issued at 100.0% of their par value and bear interest at a rate of 6.125% per year, payable semi-annually in arrears. The Issuers' obligations under the Notes are guaranteed on a senior unsecured basis by all of the company's existing and future wholly-owned domestic restricted subsidiaries that guarantee its senior secured credit facilities. The Notes are not guaranteed by Summit Materials Inc. The gross proceeds from the offering of the Notes, together with additional cash in an amount sufficient to redeem the Notes on the latest possible special mandatory redemption date at a redemption price equal to the aggregate initial offering price of the Notes plus accrued interest on the Notes from the issuance date up to, but not including, the special mandatory redemption date, were placed in a segregated account. If the company's previously-announced acquisition of certain assets from Lafarge North America Inc. (the Davenport Acquisition) is not consummated by November 16, 2015 or if the Issuers determine that the Davenport Acquisition cannot be completed by such date, the Issuers will be required to redeem the Notes at the special mandatory redemption price. Upon satisfaction of the conditions for the release of the proceeds of the offering, the net proceeds from the offering of the Notes, along with borrowings under the Company's proposed new incremental term loan facility, will be used to finance the initial cash purchase price for the Davenport Acquisition payable at closing, to refinance the company's existing term loan facility, to redeem $183.0 million in aggregate principal amount of the Issuers' 10 % senior notes due 2020 and to pay related fees and expenses. Any remaining net proceeds will be used for general corporate purposes.

Summit Materials, LLC and Summit Materials Finance Corp. Announce Issuance and Sale of $325.0 Million in Aggregate Principal Amount

On June 23, 2015, Summit Materials, LLC entered into a purchase agreement by and among the company, Summit Materials Finance Corp., the subsidiary guarantors named on the signature pages thereto and Merrill Lynch, Pierce, Fenner & Smith Incorporated, for itself and on behalf of the several initial purchasers named therein, providing for the issuance and sale of $325.0 million in aggregate principal amount of the Summit Materials, LLC and Summit Materials Finance Corp.‘s 6.125% senior notes due 2023 in a private offering to qualified institutional buyers in accordance with Rule 144A under the Securities Act of 1933, as amended, and to non-U.S. persons in transactions outside the United States in reliance on Regulation S under the Securities Act. The notes will be issued at 100.0% of their par value with a coupon of 6.125%. Interest on the notes is payable semi-annually on January 15 and July 15 of each year commencing on January 15, 2016. The notes will mature on July 15, 2023. The offering is expected to close, subject to customary closing conditions, on July 8, 2015. The purchase agreement contains customary representations, warranties, conditions to closing, indemnification rights and obligations of the parties and termination provisions.

Summit Materials, LLC Enters into New $650.0 Million Term Loan Facility

Summit Materials, LLC announced that in connection with the proposed acquisition by Summit Materials Inc. (together with its subsidiaries, the company) of certain assets from Lafarge North America Inc. (the Acquisition), the company intends to, among other things, cause certain of its subsidiaries to enter into a new $650.0 million term loan facility (the Proposed Term Loan) that will be used, together with the proceeds of a proposed private offering of $275.0 million aggregate principal amount of senior notes to fund the initial $370.0 million payment due upon closing the Acquisition, to refinance the Company's existing term loans and to redeem a portion of the company's existing 10% senior notes due 2020.

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