Introduction to the Acquisition
Chaney Enterprises, a leading player in the construction materials industry, is thrilled to announce its acquisition of Chandler Concrete Co Inc., a prominent family-owned provider of ready-mix, block masonry, and hardscapes based in North Carolina, Virginia, West Virginia, and Eastern Tennessee. Founded in 1974 by Tom Chandler, the company is currently under the leadership of Ted Chandler and Bob Chandler and boasts a dedicated team of 500 members.
Strategic Significance of the Acquisition
Francis Hall Chaney III, CEO of Chaney Enterprises, expressed his enthusiasm about the merger, stating, “Chandler Concrete is a premier ready-mix business in our industry. Their culture, people, and exceptional commitment to their customers and communities are to be admired. We are honored to have the opportunity to bring these families and companies together.” He further highlighted the alignment of Chandler’s values with Chaney’s growth strategy in the materials sector, emphasizing the importance of quality, family, and community in their shared vision.
Expansion and Future Prospects
Chandler Concrete operates 44 ready-mix plants, three block plants, and one building supply store. This acquisition is a strategic move for Chaney Enterprises, enhancing its presence in SW Virginia and North Carolina and promising superior service for customers. The new Chandler Concrete, now a part of the Chaney family, aims to leverage over 110 years of combined industry experience to continue providing top-notch materials and services.
Leadership Perspectives on the Merger
Ted Chandler, President of Chandler Concrete, shared his excitement about joining forces with Chaney Enterprises, stating, “This partnership with Chaney is ideal for our company culture, employees, and customers. The future for these businesses is bright.” Both companies are optimistic about the opportunities this merger will bring, with a shared commitment to excellence and customer satisfaction.
The acquisition of Chandler Concrete by Chaney Enterprises marks a significant milestone in the construction materials industry. With a combined legacy of over 110 years, the newly merged entities are set to continue their tradition of excellence, innovation, and community engagement. The closing of the transaction is expected soon, ushering in a new era of growth and collaboration for these family-owned organizations.