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 $300 million aggregate principal amount of their 5.125% senior notes due 2025. Summit Materials intends to use the net proceeds from the offering to fund acquisitions and to pay fees and expenses incurred in connection with any such acquisitions and the offering, with any remaining net proceeds to be used for general corporate purposes.
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 seven years ago, Summit Materials has completed 54 acquisitions and continues to pursue growth opportunities in new and existing markets.
The Simpson Thacher team included Edgar Lewandowski, Ed Tolley, Alexander Coedo, Sung Bum Cho, Jennifer Rosen and Steven LoCascio (Capital Markets); Brian Gluck and Katherine Smith (Credit); Jonathan Cantor and Andrew Purcell (Tax); Greg Grogan, Jennifer Pepin and Joo Hyun Lee (Executive Compensation and Employee Benefits); Brenda Hwang (Public Company Advisory Practice); and Michael Isby (Environmental). Summer Associate Erica Sims also provided valuable assistance.