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03/2025

Lionmark Construction acquired by BREEDON GROUP

UNITED STATES Chemicals & Materials / Construction Materials EV 100M - 350M USD

Context

By acquiring full control of Lionmark Construction Companies LLC, which generated in unaudited turnover alongside an adjusted EBITDA of in the twelve months ending November 2024, Breedon Group plc aggressively diversifies its North American product offering. Finalized for an enterprise value of , this transformative cross-border consolidation is strategically designed to more than double the buyer's revenue generation within the United States. The strategic rationale articulated by the acquiring board emphasizes a straightforward integration into the buyer's pre-existing BMC platform, specifically unlocking immediate vertical integration benefits and incorporating highly lucrative asphalt and surfacing capabilities into its portfolio. Consequently, the transaction is expected to deliver structural synergies of not less than US$3 million per annum fully realized by the third year of ownership. Expected to close by early March 2025 subject to customary closing conditions, this disciplined bolt-on acquisition ensures that the transaction remains immediately earnings enhancing for the institutional shareholder base, while the return on invested capital (ROIC) is forecasted to comfortably cover the weighted average cost of capital (WACC) by the end of 2027.

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Target

Lionmark Construction Companies LLC is a Missouri-headquartered construction materials and surfacing solutions provider specializing in road infrastructure end markets across the Midwestern United States. The enterprise manages an extensive and highly integrated industrial asset base comprising eight active quarries, four specialized asphalt production plants, and a dedicated bitumen import and processing facility. Backed by a substantial natural resource portfolio encompassing approximately 100 million tonnes of aggregate reserves and resources, the organization guarantees a continuous and reliable supply of essential heavy building materials. Supported by a dedicated workforce of around 400 employees, the company relies on its long-standing strategic relationships with state transport authorities and large regional contractors to effectively distribute its specialized surfacing products. By operating a dense and highly complementary network of extraction and processing sites, the firm systematically coordinates its raw material flows to meet the rigorous volume and quality demands of large-scale public and private infrastructure projects. This robust physical footprint enables the business to maintain a dominant regional presence while capitalizing on structural increases in transport infrastructure investments across its primary operational jurisdictions.

Ent. Value

Equity Value

Multiples

EV / Revenue

EV / EBITDA

EV / EBIT

Historical Financials (USD)

Year
Rev
EBITDA
EBIT
2024
2023

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REFERENCES

Valuation range: EV 100M - 350M USD

Revenue range: 150M - 250M USD

EBITDA range: 25M - 50M USD

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Lionmark Construction by BREEDON GROUP are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Press release: view release

Target: lionmark construction

Acquirer: breedon group