Insight Equity Takes Meadow Valley Private

Insight Equity has completed its take-private acquisition of Meadow Valley Corp., a Phoenix-based construction contractor and construction material supplier. The deal’s total equity value was around $61.3 million, with MeadowValleyMeadowValley on the deal.  stockholders to receive $11.25 per share. Alvarez & Marsal Securities advised



Meadow Valley Corporation (NASDAQ:MVCO) today announced the completion of its going-private merger transaction with Phoenix Merger Sub, Inc., a Nevada corporation (“Merger Sub”), pursuant to which Merger Sub merged with and into Meadow Valley Corporation (“Meadow Valley”) with Meadow Valley continuing as the surviving corporation. The merger was completed pursuant to the Agreement and Plan of Merger (the “Merger Agreement”), dated July 28, 2008, among Meadow Valley, Phoenix Parent Corp. (now known as Meadow Valley Parent Corp.) (“Investor”), and Merger Sub. Meadow Valley‘s stockholders approved the merger and the Merger Agreement at a special meeting held on December 26, 2008.


As a result of the merger, the issued and outstanding shares of common stock of Meadow Valley are owned by affiliates of Insight Equity Holdings LLC (“Insight Equity”), a Dallas-based private equity firm.


Under the terms of the Merger Agreement, holders of Meadow Valley common stock will receive $11.25 in cash, without interest, for each share of Meadow Valley common stock held. Meadow Valley‘s common stock will cease trading on The Nasdaq Stock Market, LLC at market close on February 2, 2009, and will no longer be listed on any exchange or quotation system.


Stockholders who possess stock certificates will receive instructions and a letter of transmittal from Mellon Investor Services LLC, the paying agent, concerning how and where to forward their certificates for payment. For shares held in “street name” by a broker, bank or other nominee, shareholders will not need to take any action to have shares converted into cash, as this will be done by the broker, bank or other nominee.


Alvarez & Marsal Securities, LLC served as exclusive financial advisor to the special committee of the Meadow Valley board of directors in connection with the going-private transaction.


About Insight Equity


Insight Equity ( makes controlling investments in strategically viable, middle market, asset intensive companies across a wide range of industries. Insight Equity specializes in partnering with companies in complex and challenging situations, including corporate divestitures, bankruptcies, restructurings, and private family ownership.


About Meadow Valley


Meadow Valley, through its wholly-owned subsidiary Meadow Valley Contractors, Inc. (“MVCI”), specializes in the construction of highways, bridges, overpasses and airport runways in Phoenix, Arizona and Las Vegas, Nevada. MVCI also provides asphalt and gravel products for its own projects as well as other companies. MVCI was formed in 1980 and is based in Phoenix, Arizona.