Troutman Pepper Locke Advises Quikrete on $11.5B Acquisition of Summit Materials and Related Financing

ATLANTA — Troutman Pepper Locke client Quikrete Holdings, Inc., a building materials company servicing the U.S. and Canadian infrastructure, commercial, and residential markets, acquired Summit Materials, Inc., a leading producer of aggregates and cement, for a total enterprise value of approximately $11.5 billion, including debt. For more information, read the press release.

In connection with the financing of the acquisition, Troutman Pepper Locke represented Quikrete in a $3.95 billion term loan facility and a $1.50 billion revolving loan facility, as well as a Rule 144A offering of $3.95 billion aggregate principal amount of 6.375% senior secured notes due 2032 and $1.50 billion aggregate principal amount of 6.750% senior notes due 2033.

A team of Troutman Pepper Locke attorneys, including corporate partners David Ghegan, Steven Khadavi, Mark Wilhelm, and associate Hannah Offerle, finance partners Brad Boericke, Tricia McNeill, and Jonathan Homer, capital markets partner Betty Segaar and associates Jacob Richards, Steven Soffer, Stuart Craft, and Carlo Dehart, served as legal counsel in connection with the acquisition financing. Dozens of other Troutman Pepper Locke partners, associates, and legal professionals also contributed to this transaction.

Quikrete is a privately owned family business founded in 1940. It is a leading building materials company based in Atlanta. From the original yellow bag of premixed concrete, today Quikrete’s portfolio of brands includes Quikrete, Spec Mix, Rinker Materials, U.S. Pipe, Contech Engineered Solutions, Keystone Hardscapes, Pavestone, Custom Building Products, QPR, and other leading brands. The products produced by the collection of brands include packaged cementitious products, pavers, retaining wall systems, masonry units, tile grouts and thin sets, concrete pipe, box culverts, corrugated metal pipe, ductile iron pipe, engineered storm water systems, structural precast, and steel pedestrian and vehicular bridges. The company services the U.S. and Canadian commercial construction, residential, and infrastructure markets.

Consistently recognized as a top-tier national practice, Troutman Pepper Locke’s corporate attorneys regularly handle strategic deals for Fortune 100 corporations, and middle and lower middle market transactions for private equity clients. Core areas of service include mergers and acquisitions, corporate finance, corporate governance, securities laws compliance, capital markets transactions, and other significant domestic and cross-border transactions, as well as general corporate counseling.

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