Construction services firms RME and PE-backed PLM merge


Rocky Mountain Excavating Inc has merged with PLM Asphalt & Concrete LLC, a portfolio company of Peninsula Capital Partners LLC and Silver Peak Partners LLC. No financial terms were disclosed. SLATE Partners advised RME on the merger while Sherman & Howard LLC provided legal representation. Headquartered in Castle Rock, Colorado, RME is a provider of civil design and specialty construction services while Aurora, Colorado-based PLM provides commercial asphalt paving and concrete construction services.

PRESS RELEASE

DENVER – SLATE Partners (SLATE) announced that its Principals advised Rocky Mountain Excavating, Inc. (RME) on its merger with PLM Asphalt & Concrete, LLC (PLM), a portfolio company of Peninsula Capital Partners, LLC (Peninsula) and Silver Peak Partners, LLC (Silver Peak).

Founded in 1999 and headquartered in Castle Rock, Colorado, RME is a provider of comprehensive civil design and specialty construction services to a diverse range of government, commercial, and industrial customers throughout the U.S. Rocky Mountain and Midwest regions. The Company’s core civil service offerings consist of: (i) earth and utility, (ii) concrete, (iii) asphalt paving and maintenance; and (iv) construction management. Its unique ability to offer a full suite of civil services differentiates the Company from the vast majority of its competitors and has resulted in the Company’s leading position in attractive, high-growth markets. Additionally, the Company’s turnkey civil solutions have facilitated its ability to win multi-year service and maintenance contracts, which account for over half of the Company’s revenue.

Chris Weems, President and CEO of RME, remarked, “SLATE Partners were true professionals during the complete process, from the start of information gathering to day one of our new company. They understand the chain of information and the strategies that need to be in place for a merger or acquisition to take place. They provided achievable timelines and kept everyone on track to meet those goals. Everyone at SLATE dedicated their time and effort alongside our people to make sure all of the complex issues were dealt with and solved to keep our transaction moving forward. I would highly recommend the SLATE team for those seeking professional investment bankers.”

Jason Munoz, co-founder of SLATE Partners, commented, “RME attracted strong interest in our process given the Company’s leading market position and exceptional management team. Joining forces with PLM creates a combined company with even greater service diversity and financial wherewithal. The two companies are a great strategic fit and are well-positioned for continued success in the growing Rocky Mountain market.”

RME received legal representation in the transaction from Sherman & Howard, LLC.

About SLATE Partners
SLATE Partners is a boutique investment banking firm with the exclusive mission to provide mergers and acquisitions advisory services to building materials and building services companies nationwide. This includes manufacturers, distributors, and producers of both natural and manufactured building materials, as well as building services companies such as architects, engineers, specialty contractors, and facilities services providers.