Deal Marks the Largest Investment Ever Made By a Colombian Business in the United States
ATLANTA (October 7) – Kilpatrick Stockton LLP announces today that it advised Colombian cement company Cemento Argos in the acquisition of U.S. concrete makers Southern Star Concrete and Concrete Express, Inc. for a total $257.5 million. This acquisition serves as the largest investment ever made by a Colombian company in the United States.
Kilpatrick Stockton mergers & acquisitions partners Lynwood Mallard and Mark Prybylski served as lead partners on the transaction. The acquisition required coordinated support from a team of lawyers in Kilpatrick Stockton’s corporate, international, environmental, tax, benefits, labor and real estate practice areas. This same team also handled the $210 million sale last November of Raleigh-based Ready Mixed Concrete Co. to a Boston-based private equity firm.
“This was a complex transaction that required a large, coordinated team effort by lawyers across a number of our offices. We were very pleased to act for our clients on this transaction, and to help them execute this important next step in their business plan,” said Mallard.
Argos, Latin America’s fifth-largest cement producer, has agreed to buy Dallas-based Southern Star Concrete for $245 million and will pay $12.5 million for Concrete Express, based in Savannah, Georgia. With these new acquisitions, Argos’ first in the United States, Argos gains operations in Texas, Arkansas and Georgia. Southern Star Concrete is the largest ready-mixed concrete supplier in Texas and Arkansas, and also one of the largest independent ready-mix companies in the United States. The closing of the transaction is subject to satisfaction of closing conditions and certain required approvals.
About Kilpatrick Stockton
Kilpatrick Stockton LLP is a full-service international law firm with more than 470 attorneys in nine offices across the globe: Atlanta and Augusta, GA.; New York, New York; Charlotte, Raleigh and Winston-Salem, N.C.; Washington, D.C.; London, England; and Stockholm, Sweden. Kilpatrick Stockton’s delivery of innovative business solutions provides results-oriented counsel for corporations, from the challenging demands of financial transactions and securities to the disciplines of intellectual property management. Collaboration among Kilpatrick Stockton’s corporate, litigation and intellectual property attorneys provides knowledgeable and proactive guidance for companies at every stage of the business life cycle. For more, go to www.kilpatrickstockton.com.
Kilpatrick Stockton’s Argos Team
Lynwood Mallard, Mark Prybylski, Ayanna Barrow, David Cheatwood, Mike Drye and Ryan Opel (Mergers & Acquisitions); Steve Berlin and Noelle Wooten (Environmental); Lois Colbert, Martha Sewell and Michael Schenk (Benefits); Scott Humphrey and Chuck Rice (Employment); Gary Joyner, Ford Robertson and Stuart Neiman (Real Estate).
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