The Firm recently represented Summit Materials, LLC and Summit Materials Finance Corp. as co-issuers in connection with a Rule 144A/Regulation S offering of $250 million aggregate principal amount of their 8.5% senior notes due 2022. Summit Materials intends to use the net proceeds from the offering to finance its acquisition of Boxley Materials Company, replenish cash used for its acquisition of American Materials Company and to pay fees and expenses.
The co-issuers are indirect subsidiaries of Summit Materials, Inc. (NYSE: SUM), one of the fastest growing construction materials companies in the United States. Summit Materials supplies aggregates, cement, ready-mixed concrete and asphalt in the United States and British Columbia, Canada. Since its first acquisition approximately six years ago, Summit Materials has completed 38 acquisitions and continues to pursue growth opportunities in new and existing markets.
The Simpson Thacher team included Edgar Lewandowski, Ed Tolley, Daniel Areshenko and Ashley Yoon (Capital Markets); Alden Millard, Brian Gluck and Chinh Vo (Credit); Jonathan Cantor and Andrew Purcell (Tax); Greg Grogan, Jeanne Annarumma, Jennifer Pepin and Joo Hyun Lee (Executive Compensation and Employee Benefits); Joia Lee (Public Company Advisory Practice); and Michael Isby (Environmental).