Summit Materials
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Summit Materials - overview
Established
2008
Location
Denver, CO, US
Primary Industry
Materials
About
Based in the US, Summit Materials operates as a leading supplier of construction materials, focusing on aggregates, cement, asphalt, and ready-mix concrete, essential for various infrastructure projects. Summit Materials, founded in 2008 and headquartered in Denver, US, specializes in the production of construction materials. The company engaged in a Trade Sale in 2016, raising USD 11,500 mn from investors such as Quikrete Holdings, Inc. Since its inception, it has completed five deals, emphasizing its growth and sustainability strategies.
Summit Materials offers a diverse range of construction materials essential for infrastructure development, focusing primarily on aggregates, cement, asphalt, and ready-mix concrete. These products cater to public and private construction initiatives, including residential homes and major roadways. Aggregates sourced from quarries in the US and Canada serve as foundational materials in asphalt and concrete production, ensuring quality and reliability. Cement, the world’s second most consumed resource, supports resilient infrastructure, while asphalt plays a crucial role in paving US roads.
Ready-mix concrete allows for customizable designs for various applications, catering to contractors, developers, and municipalities predominantly in the US and Canada. In the most recent year, Summit Materials reported a revenue of USD 2,619. 47 mn and an EBITDA of USD 537. 24 mn, generated primarily through the sale of construction materials to contractors, developers, and governmental entities, structured around direct sales and partnerships for bulk purchases or long-term contracts.
Summit Materials plans to leverage its recent Trade Sale funding from November 2016, where it raised USD 367. 19 mn by selling shares on the New York Stock Exchange. This capital will support the development of new construction material products tailored for emerging market demands. The company is also exploring expansion into new geographic regions, targeting areas with increasing infrastructure needs by 2025, thus broadening its client base and enhancing supply capabilities.
Primary Industry
Materials
Sub Industries
Construction, Masonry Materials
Website
www.summit-materials.com
Company Stage
Mature
Total Amount Raised
Subscriber access only
Summit Materials - timeline of key events
Summit Materials - financials
| Fiscal Year Ended | Dec 31, 2016 | Dec 30, 2017 | Dec 29, 2018 | Dec 28, 2019 | Dec 28, 2020 | Jan 02, 2021 | Jan 02, 2022 | Dec 31, 2022 | Dec 30, 2023 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue (USD) | 1,626,063,000 | 1,932,575,000 | 2,101,002,000 | 2,222,140,000 | - | 2,332,451,000 | - | - | - |
| % Revenue Growth (YoY) | - | 18.8% | 8.7% | 5.8% | - | - | - | - | - |
| EBITDA (USD) | 314,667,000 | 413,984,000 | 371,238,000 | 436,420,000 | - | 452,990,000 | - | - | - |
| Operating Income (USD) | 154,034,000 | 220,877,000 | 162,466,000 | 213,558,000 | - | 225,173,000 | - | - | - |
| Operating Margin | 9.5% | 11.4% | 7.7% | 9.6% | - | 9.7% | - | - | - |
| % EBITDA Margin | 19.4% | 21.4% | 17.7% | 19.6% | - | 19.4% | - | - | - |
| NET Income (USD) | 46,126,000 | 125,777,000 | 36,330,000 | 61,123,000 | - | 141,240,000 | - | - | - |
| % Net Margin | 2.8% | 6.5% | 1.7% | 2.8% | - | 6.1% | - | - | - |
Summit Materials - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Trade Sale | Completed | Summit Materials | - | ||||||||
| Add-on | Completed | Everist Materials, LLC | - | ||||||||
| Add-on | Completed | Razorback Concrete Company | - | ||||||||
| Private Placement/Follow on | Completed | Summit Materials | - | ||||||||
| Private Placement/Follow on | Completed | Summit Materials | - |
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Summit Materials - employee data
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