Holcim Participations Inc. has signed a definitive agreement to purchase a considerable minority ownership position in Lattimore Materials Co. L.P. of McKinney, Texas.
One of the top suppliers of concrete and aggregate materials in the state, Lattimore operates six aggregate quarries, 19 ready-mix concrete plants, four rail terminals and a fleet that includes more than 400 mixer and haul trucks.
Lattimore Materials’ management team will continue to run the company and oversee its operations. “This transaction makes good business sense for both companies," said president Vic Lattimore, "Holcim is a quality company. We believe that this investment will strengthen both companies' prospects for growth and allow them to add greater value and long term stability."
The closing of the transaction is expected to occur at the end of the month.