Source: CVDaily Feed
LeGrand Johnson Construction Company has been sold. The Logan-based concrete and asphalt company was recently acquired by Summit Materials, Inc. and will become part of it’s Kilgore Companies group of businesses in Utah.
“We are very fortunate to team up with LeGrand,” says Summit CEO Tom Hill. “They are the ultimate local business, everything they do is done close to their home base. We will keep the decision making local, keep local managers and local people and keep the name of the company.”
LeGrand Johnson Construction is what is referred to as a vertically integrated construction materials company that operates five sand and gravel pits along with four ready mix concrete plants and five asphalt plants. LeGrand is based in Logan but has other sites throughout Northern Utah.
In a press release, Larry Jardine, CEO of LeGrand, commented, “We are excited that this acquisition will enable our company to continue the legacy of its founders, LeGrand and LaRee Johnson, and their family members who, together with hundreds of employees over the years, have worked so hard to make the company a success.”
Hill says there will be some changes with LeGrand Johnson, but they will mostly be internal improvements that will help the company be more successful.
“We try to help businesses with world class information technology,” he explains. “We introduce a robust back-office system, GPS systems in trucks, and a world class accounting software. We want them to be the best of being local but also have the best technology, too.”
Summit Materials formed Kilgore Companies in 2010 and it is based in West Valley City.
“This is the 12th acquisition in our area,” says Jason Kilgore, CEO of Kilgore Companies.
Kilgore grew up in the construction business, working on a paving crew when he was just 13 years old. And he has had his eye on LeGrand Johnson for a long time.
“I remember visiting my grandma in Cache Valley and driving past the LeGrand Johnson sites, seeing all their yellow and green trucks. Their company is what I believe in, how business should be done. They have great management and I’ve known Dick Sackett and Larry Jardine a long time.”
Dick and his wife Janice have been owners of the LeGrand Johnson company for over 20 years. Janice is the daughter of LeGrand and LaRee Johnson, who founded the company in 1935.
Regarding the timing of the sale, Hill says Summit had been approaching LeGrand for a long time.
“They had a generational change. They are not distressed,” Hill explains. “They reached out and determined it was time for them to sell. That’s how we do things. We do a lot of cold calling, reaching out to similar companies and let them know that when it’s an appropriate time, we will be a good owner for your business and your employees.”
“With Summit and Kilgore we have a long relationship with these companies,” adds Kilgore. “We let them operate how they do best and we try to keep things the way they are. LeGrand has a great name and a great heritage.”
Summit Materials is a publicly traded company that was first listed on the New York Stock Exchange in March. They own dozens of similar heavy side building material companies throughout the United States. Last year they did over $1.5 billion in revenue.