M&A Deal Summary

Oldcastle Materials Acquires Ashland Paving And Construction

On August 21, 2006, Oldcastle Materials acquired construction company Ashland Paving And Construction from Ashland for 1.3B USD

Acquisition Highlights
  • This is Oldcastle Materials’ 1st transaction in the Construction sector.
  • This is Oldcastle Materials’ largest (disclosed) transaction.
  • This is Oldcastle Materials’ 3rd transaction in the United States.
  • This is Oldcastle Materials’ 1st transaction in Georgia.

M&A Deal Summary
Date 2006-08-21
Target Ashland Paving And Construction
Sector Construction
Buyer(s) Oldcastle Materials
Sellers(s) Ashland
Deal Type Divestiture
Deal Value 1.3B USD

Target

Ashland Paving And Construction

Atlanta, Georgia, United States
Ashland Paving And Construction, Inc. is an asphalt and heavy highway construction company with approximately 9,700 employees and extensive operations in 14 mid-western and southern states.

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Buyer(S) 1

Buyer

Oldcastle Materials

Atlanta, Georgia, United States
Category Company
Founded 1985
Sector Building Materials
DESCRIPTION

Oldcastle Materials is the vertically integrated supplier of aggregates, asphalt, ready-mix concrete, and construction and paving services in the United States.

DEAL STATS #
Overall 3 of 6
Sector (Construction) 1 of 2
Type (Divestiture) 1 of 1
State (Georgia) 1 of 1
Country (United States) 3 of 6
Year (2006) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2001-08-10 Hallett Materials

Des Moines, Iowa, United States

Hallett Materials, Inc. is a producer of aggregates for the construction industry.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-02-24 Shelly

Thornville, Ohio, United States

Shelly Co., Inc. is a manufacturer and supplier of ready mix concrete, and building materials.

Buy -

Seller(S) 1

SELLER

Ashland

Wilmington, Delaware, United States
Category Company
Founded 1924
Sector Chemicals
Employees3,800
Revenue 2.2B USD (2023)
DESCRIPTION

Ashland is a global specialty chemicals company. Ashland has three reportable segments: Specialty Ingredients, Performance Materials, and Valvoline. Specialty Ingredients is a global provider of cellulose ethers, vinyl pyrrolidones, and biofunctionals. Performance Materials is composed of two divisions: Composites and Intermediates/Solvents. Performance Materials is a global provider of unsaturated polyester resins and vinyl ester resins. Ashland was founded in 1924 and is based in Wilmington, Delaware.

DEAL STATS #
Overall 1 of 14
Sector (Construction) 1 of 1
Type (Divestiture) 1 of 12
State (Georgia) 1 of 2
Country (United States) 1 of 14
Year (2006) 1 of 1
Size (of disclosed) 3 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1998-01-01 Marathon Ashland Petroleum

Finland, Ohio, United States

Based in Findlay, Ohio, Marathon Ashland Petroleum LLC (MAP), owned 62 percent by Marathon Oil Company -- a part of USX-Marathon Group (NYSE: MRO) -- and 38 percent by Ashland Inc. (NYSE: ASH), is the nation's fifth largest refiner with nearly 1,000,000 barrels-per-day of refining capacity.The company's operations stretch across 23 states with refining, transportation, and marketing systems positioned to respond to market changes and challenges.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-10-30 Northwest Coatings

Oak Creek, Wisconsin, United States

Northwest Coatings Corp is a developer and manufacturer of customized specialty energy-curable (UV/EB, ultraviolet and electron beam) and water-based coatings and adhesives servicing the tag and label, packaging, printing and other industries.

Buy $72M
Mergr

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