New Enterprise Stone & Lime Co., Inc. Acquires Hempt Bros., Inc.
April 30, 2021
New Enterprise Stone & Lime Co., Inc. (NESL) has acquired all outstanding stock of Hempt Bros., Inc., adding three aggregate plants, four hot mix asphalt plants, two ready-mix concrete plants and a paving/heavy-highway construction business in the Harrisburg, Pennsylvania area. The acquisition expands NESL's construction materials footprint into the Harrisburg market and is expected to be accretive to profits while completed with virtually no additional long-term debt.
- Buyers
- New Enterprise Stone & Lime Co., Inc.
- Targets
- Hempt Bros., Inc.
- Sellers
- Hempt Bros., Inc. shareholders (Hempt family)
- Industry
- Construction
- Location
- Pennsylvania, United States
- Transaction Type
- Buyout
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