January 21, 2017 1:46 AM ET

Construction Materials

Company Overview of Summit Materials, LLC

Company Overview

Summit Materials, LLC, together with its subsidiaries, operates as a construction materials company in the United States and Canada. It company operates through the West, East, and Cement segments. The company produces and sells aggregates, cement, ready-mixed concrete, asphalt paving mix, and concrete products. It also provides paving and related services. In addition, the company owns and operates quarries, sand and gravel pits, two cement plants, cement distribution terminals, ready-mixed concrete plants, asphalt plants, and landfill sites. It offers its products and services to construction industry comprising private residential and non-residential construction, as well as public infras...

1550 Wynkoop Street

3rd Floor

Denver, CO 80202

United States

Founded in 2008

4,300 Employees





Key Executives for Summit Materials, LLC

Founder, Chief Executive Officer, President and Director
Age: 60
Chief Financial Officer
Age: 60
Chief Operating Officer and East Region President
Age: 55
President of Central Region
Age: 46
President of West Region
Age: 45
Compensation as of Fiscal Year 2016.

Summit Materials, LLC Key Developments

Summit Materials, LLC Announces Amended and Restated Credit Agreement

On January 19, 2017, Summit Materials, LLC (Summit LLC), an indirect subsidiary of Summit Materials Inc., and the guarantors party thereto entered into Amendment No. 1 to the Amended and Restated Credit Agreement, dated as of July 17, 2015 governing Summit LLC's senior secured credit facilities, among Summit LLC, as borrower, the guarantors party thereto, the several banks and other financial institutions or entities party thereto, Bank of America, N.A., as administrative agent, collateral agent, L/C issuer and swing line lender and the other parties thereto. Amendment No. 1 amended the Credit Agreement to, among other things, reduce the applicable margin in respect of the $640.25 million outstanding principal amount of term loans there under and include a 1.00% prepayment premium in connection with certain further repricing events of the repriced Term Loans that occur on or prior to the six-month anniversary of the effective date of Amendment No. 1. All other material terms and provisions of the repriced Term Loans remain substantially identical to the terms and provisions in place immediately prior to the effectiveness of Amendment No. 1.

Investors Reportedly Eyes To Acquire Italcementi' Assets

HeidelbergCement AG (DB:HEI) has drawn up a preliminary short list of bidders for $1 billion of assets owned by Italcementi SpA (BIT:IT) that must be sold to meet conditions of a planned takeover, according to sources familiar with the matter. Bidders selected to do due diligence for the US assets, valued at around $600 million, include CRH plc (ISE:CRG) and Summit Materials, LLC.

Summit Materials, LLC and Summit Materials Finance Corp. Issue $250.0 Million Aggregate Principal Amount of 8.500% Senior Notes Due 2022

Summit Materials, LLC and Summit Materials Finance Corp., indirect subsidiaries of Summit Materials Inc., issued and sold $250.0 million aggregate principal amount of their 8.500% Senior Notes due 2022, which mature on April 15, 2022, pursuant to an indenture dated as of March 8, 2016, by and among the Issuers, the subsidiary guarantors named on the signature pages thereto and Wilmington Trust, National Association, as trustee. 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. The notes bear interest at a rate of 8.500% per year, payable semi-annually in arrears. The company may redeem all or a part of the notes at any time prior to April 15, 2019 at a redemption price equal to 100% of the principal amount of the Notes being redeemed plus a make-whole premium and accrued and unpaid interest, if any, to, but not including, the redemption date. In addition, beginning on April 15, 2019, the company may redeem all or a part of the notes at a redemption price equal to 104.250% of the principal amount redeemed. The redemption price decreases to 102.125% and 100.000% of the principal amount redeemed on April 15, 2020 and April 15, 2021, respectively. In addition, at any time prior to April 15, 2019, the company may redeem up to 40% of the notes from the proceeds of certain equity offerings at a redemption price equal to 108.500% of the principal amount thereof, plus accrued and unpaid interest.

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Recent Private Companies Transactions

No transactions available in the past 12 months.

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