Armada Materials Acquires Wright Paving Contractors and Custom Stone in Tennessee

Armada Materials, Backed by Kelso & Company, Acquires Volunteer Materials

October 3, 2023

Building Products

Armada Materials, a Tampa-based infrastructure materials platform led by Rob Duke and backed by Kelso & Company, has acquired Volunteer Materials and affiliated operating companies in Lewisburg, Tennessee. Volunteer is a vertically integrated producer of aggregates, asphalt and ready-mix concrete and a provider of road paving and striping services; the deal is Armada's first platform acquisition to support regional expansion along the I-65 corridor south of Nashville.

Armada Materials Acquires Drake's Creek Stone

July 16, 2025

Building Products

Armada Materials, a Kelso-backed infrastructure materials platform, has acquired Drake's Creek Stone, a quarry in Franklin, Kentucky formerly part of Charles DeWeese Construction. The acquisition expands Armada's aggregates footprint to serve northern Tennessee and southern Kentucky and adds crushed stone production capacity to its platform.

Vulcan Materials Company Acquires Wake Stone Corporation

September 26, 2024

Building Products

Vulcan Materials Company has entered into a definitive agreement to acquire Wake Stone Corporation, a leading pure‑play aggregates supplier in the Carolinas. The acquisition expands Vulcan’s aggregates footprint and reserves—notably serving the Raleigh, North Carolina area—and is expected to close later this year subject to customary conditions.

JENNMAR Acquires Wright-Mix Cement Blending Facility (Holden, WV)

August 13, 2024

Building Products

JENNMAR, a FalconPoint Partners portfolio company, acquired the assets of the Holden, West Virginia cement blending facility of Wright-Mix Material Solutions, LLC. The facility will be added to JENNCHEM's manufacturing footprint to secure supply and expand production of J-SEAL and other blended cement products for mining and construction customers.

Granite Acquires Warren Paving and Papich Construction

August 6, 2025

Construction

Granite Construction (NYSE: GVA) completed acquisitions of Warren Paving and Papich Construction for a combined purchase price of $710 million, adding approximately $425 million of annual revenue and materially increasing its aggregates reserves and production. The deals expand Granite's vertically-integrated home markets—adding a major barge-enabled aggregates network in the Southeast and quarry/roadbuilding capabilities on California's Central Coast—and are expected to be accretive to adjusted EBITDA.

Pave America Acquires Kansas Asphalt

October 10, 2023

Construction

Pave America has partnered with and added Kansas Asphalt, a Bucyrus, Kansas–headquartered asphalt and concrete paving and maintenance provider, to its platform as an add-on to expand its national footprint. The transaction brings Kansas Asphalt’s self-performing locations and subcontractor network into Pave America’s platform, which is backed by private equity sponsors including Shoreline Equity Partners (and referenced Trivest Partners in the announcement).