Allegiance Capital, a Texas-based private mergers and acquisitions investment bank, served as the exclusive financial advisor to Blue Star Materials in its sale to Cemex USA.
In September, Cemex USA confirmed it closed the purchase of an aggregates quarry from Blue Star Materials to expand its presence in the Dallas-Fort Worth Area.
A report by the Houston Chronicle says the 122-acre site and quarry plant has more than 25 years of limestone reserves. The plant will supply aggregates for roads, bridges, commercial building and other developments in the area.
“The deal gives Cemex USA a fifth Texas aggregates operation in addition to others in Houston, Spring, Katy and New Braunfels,” the article adds.
Joel Galassini, Cemex USA regional president—Texas and New Mexico region, says: “The Dallas-Fort Worth area is expected to grow exponentially over the next 30 years. By acquiring a quarry that’s currently-operational, we can start contributing to that growth almost immediately and bring Cemex’s strong network along with our expertise to projects in the Metroplex.”
