m_and_a
confidence high
sentiment positive
materiality 0.80
Suncrete acquires Nelson Bros. Ready Mix for $42.3M cash + stock; earnout up to $18M
Suncrete, Inc.
- Acquired Nelson Bros. Ready Mix (9 plants, 124 trucks) in North Texas; second Texas acquisition for Hope Concrete platform.
- Consideration: $42.3M cash at close plus 1.3M shares of Class A common stock; earnout up to $18M based on trailing 12-month materials spread.
- Earnout payable over 5 years; Suncrete may satisfy up to 50% of earnout with additional Class A shares subject to Nasdaq rules.
- Sellers include Randell and Ronda Owens, JAO LLC, Owens Regional Investments; Jacob Owens as seller representative.