The Firm represented Summit Materials, Inc. (NYSE: SUM) and certain entities affiliated with The Blackstone Group L.P. in connection with a $367 million secondary offering, consisting of 16,614,949 shares of class A common stock at a public offering price of $22.10 per share. In the offering, Blackstone sold its remaining 16,451,722 shares of class A common stock.
In 2015, the Firm represented Summit Materials on its $460 million initial public offering. Since the IPO, the Firm has advised on primary and secondary equity offerings aggregating more than $1.4 billion.
Summit Materials is a leading vertically integrated materials-based company that supplies aggregates, cement, ready-mix concrete and asphalt in the United States and British Columbia, Canada. Summit is a geographically diverse, materials-based business of scale that offers customers a single-source provider of construction materials and related downstream products in the public infrastructure, residential and nonresidential, and end markets.
The Simpson Thacher team included Edgar Lewandowski, Ed Tolley and Ben Heriaud (Capital Markets); Gary Mandel and Drew Purcell (Tax); Greg Grogan and Jennifer Pepin (Executive Compensation and Employee Benefits); Michael Isby (Environmental); and James Rapp and Joia Lee (Public Company Advisory Practice).