Audax Group Announces Sale of Ready Mixed Concrete Company.BOSTON -- Audax Group announced that it has completed the sale of RMCC RMCC Rich Mountain Community College (Mena, Arkansas) RMCC Royal Military College of Canada RMCC Ridley Mission Control Center RMCC Red Mountain Christian Center (Mesa, AZ) Group Inc., (a parent of Southern Equipment Company d/b/a Ready Mixed Concrete Company "Ready Mixed"), to Cementos Argos S.A. ("Argos"), a leading Colombian cement company. The transaction valued the enterprise of Ready Mixed at $435 million. Ready Mixed is the leading provider of ready-mixed concrete in North Carolina North Carolina, state in the SE United States. It is bordered by the Atlantic Ocean (E), South Carolina and Georgia (S), Tennessee (W), and Virginia (N). Facts and Figures Area, 52,586 sq mi (136,198 sq km). Pop. , South Carolina South Carolina, state of the SE United States. It is bordered by North Carolina (N), the Atlantic Ocean (SE), and Georgia (SW). Facts and Figures Area, 31,055 sq mi (80,432 sq km). Pop. (2000) 4,012,012, a 15. , and southern Virginia. The Company, acquired by Audax Group in November 2004, has an extensive network of concrete plants and mixing trucks that deliver concrete to thousands of customers in its markets. Geoffrey S. Rehnert, Co-CEO of Audax Group, said "Ready Mixed represents a successful example of how a private equity firm can work closely with management to drive success in a middle market company. During our period of ownership, under the leadership of Jay Loftin and his talented team, the company significantly improved revenues and profitability through both organic growth and successful integration of add-on acquisitions." Jay Loftin, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Ready Mixed, said "The combined effort of the management team and our employees was critical to achieving this successful transaction. It has been a great experience working with Audax Group. Their understanding and commitment to our business was evident throughout. They were a key resource that helped us to achieve a very successful outcome." Ropes & Gray LLP LLP - Lower Layer Protocol and Citigroup Global Markets Inc. represented Ready Mixed. JPMorgan and Kilpatrick Stockton LLP represented Argos. ABOUT AUDAX GROUP Audax Group, founded in 1999, is a leading investor in middle market companies. With offices in Boston and New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Audax manages in excess of $2 billion in equity and mezzanine debt capital. For more information visit the Audax Group website http://www.audaxgroup.com |
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