BPGC Management has acquired a controlling interest in PB Materials, a producer of construction aggregates and ready-mix concrete, from WL Ross & Co.
PB Materials operates 14 mine sites, producing over 20 grades of construction materials and managing nearly 300 million tons of proven aggregate reserves. They also operate 12 ready-mix production sites and a fleet of 120 mixer trucks.
BPGC aims to further grow PB Materials' leading position in West Texas and capitalize on the highly attractive market dynamics of the region.
Additional financing for the PB Materials acquisition was provided by Fortress Investment Group and Hillcrest Bank.