NEW YORK – June 23, 2015 – Carl Marks Advisors served as the exclusive financial advisor to Coastal Concrete Southeast II, LLC (“Coastal Concrete”) in the sale of its assets to Thomas Concrete Group AB, an international producer and distributor of high-quality concrete operating 132 plants in four countries.
Founded in 1985 and headquartered in Pooler, Georgia, Coastal Concrete is a leading manufacturer and distributor of ready mixed concrete and aggregates to customers in the residential and commercial construction markets. Coastal Concrete maintains a strong market position in the high-growth coastal South Carolina and Georgia markets operating 10 concrete plants that produce over 400,000 cubic yards of concrete annually.
“We are pleased to continue our relationship with Coastal Concrete and assist in the sale of their assets,” said Scott Webb, Director in Carl Marks Advisors’ investment banking group. “The combination with Thomas Concrete Group is a value add proposition for the company, its employees and customers. The transaction enhances Thomas’s operational footprint and creates a platform primed for growth and continued success.” Previously, Carl Marks Advisors advised Coastal Concrete during its restructuring following the construction market collapse in 2008.
“Carl Marks Advisors provided valuable guidance throughout the sale process, ultimately identifying the best strategic partner and maximizing the value of our enterprise,” said Tim Coughlin, CEO of Coastal Concrete. “We are excited to embark on a new and exciting chapter in our company’s future.”
Carl Marks Advisors, a New York-based firm serving middle-market companies, brings deep investment banking and consulting experience across a broad spectrum of vertical sectors, including industrials. As an entrepreneurial business with a long-standing family heritage, their experienced team of professionals brings an owner-investor mindset to every assignment.
Genovese Joblove & Battista, P.A. served as legal counsel to Coastal Concrete.