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July 01, 2015 6:19 PM 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. 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.

Summit Materials, LLC Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 27, 2014

Summit Materials, LLC reported unaudited consolidated earnings results for the third quarter and nine months ended September 27, 2014. For the quarter, the company reported that total revenue was $394,759,000 compared to $316,263,000 a year ago. Operating income was $47,749,000 against $37,895,000 a year ago. Income from continuing operations before taxes was $27,072,000 compared to $24,515,000 a year ago. Income from continuing operations was $28,110,000 compared to $22,950,000 a year ago. Net income attributable to member the company was $26,874,000 compared to $20,167,000 a year ago. Adjusted EBITDA was $72,412,000 compared to $57,598,000 a year ago. For the nine months, the company reported that total revenue was $870,145,000 compared to $677,934,000 a year ago. Operating income was $46,652,000 against $9,765,000 a year ago. Loss from continuing operations before taxes was $13,604,000 compared to $34,742,000 a year ago. Loss from continuing operations was $11,106,000 compared to $32,960,000 a year ago. Net loss attributable to member the company was $11,424,000 compared to $34,322,000 a year ago. Net cash used in operating activities was $10,836,000 compared to net cash provided by operating activities of $123,000 a year ago. Purchases of property, plant and equipment was $64,244,000 compared to $53,659,000 a year ago. Adjusted EBITDA was $112,901,000 compared to $62,215,000 a year ago. Total net debt was $1,149.6 million.

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