TAMPA, Fla.--(BUSINESS WIRE)--Armada Materials, LLC (“Armada” or the “Company”) has been formed to build a leading infrastructure materials and services business through strategic acquisitions. The Company was founded by Rob Duke, who will serve as CEO of Armada, along with a group of investors including several industry veterans, and Kelso & Company, L.P. (“Kelso”), a middle-market buyout private equity firm founded in 1980 on the principles of partnership and alignment of interests. Rob brings over twenty years of experience in the construction materials industry with prior leadership roles at CRH, plc and Rinker Materials. Travis Raitt leads Armada’s acquisition efforts as EVP of Business Development, with former leadership positions at CRH, plc, The Home Depot, and Macquarie Capital.
Armada is pleased to announce the acquisition of Volunteer Materials and its affiliate companies, including Volunteer Materials, LLC, Volunteer Paving, LLC, Volunteer Sand and Gravel, LLC, Volunteer Concrete, LLC, Action Enterprise Company, LLC, and TMC Construction Services, LLC (collectively, “Volunteer”). Located in Lewisburg, TN, Volunteer is a vertically integrated producer of aggregates, asphalt, and ready-mix concrete and is a provider of road paving and striping services in the greater Nashville area. Volunteer owns extensive, high-quality limestone reserves with proximity to the fast growing I-65 corridor south of Nashville. Volunteer is Armada’s first platform acquisition in a region where several major companies have announced expansion plans and new job creation.
“I am thrilled to partner with Kelso and our other investors in launching Armada Materials”, commented CEO Rob Duke, “We have assembled a premier group of leaders and advisors with deep industry experience and a shared vision as the acquirer of choice for private owners considering a sale of their business. We are very excited to team up with Volunteer and its management team under the leadership of Chad Swallows. Volunteer is an ideal, first platform for Armada with key locations in Tennessee positioned for further growth.”
“We are excited about our partnership with Rob, Travis, and the broader Armada and Volunteer teams. We believe Armada provides a differentiated partnership solution for owners of infrastructure materials and services businesses” said Sandy Osborne, managing director of Kelso. “We are eager to support Armada’s growth, both organically and through acquiring top-tier companies like Volunteer” added Matt Edgerton, managing director of Kelso.
About Armada Materials
Armada Materials, based in Tampa, FL, is a rapidly growing producer of aggregates, asphalt, and other infrastructure materials and services. Armada was formed by industry veterans to grow through strategic acquisitions of companies supplying essential construction materials in key growth regions of the U.S. For more information, please visit www.armadamaterials.com
About Kelso & Company
Kelso is a North America-focused, middle-market buyout private equity firm founded in 1980 on the principles of partnership and alignment of interests. Utilizing a disciplined and focused approach, Kelso invests in targeted sectors where the firm has the expertise and capabilities to support management teams to drive accelerated growth. Since inception, Kelso has raised a total of 11 private equity funds, representing approximately $16 billion of capital, and has invested in more than 140 companies. For more information, please visit www.kelso.com
