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Archive for Friday, August 28, 2009

Hamm Inc. sells to investors with eyes on growth

August 28, 2009

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Hamm Inc., a Perry-based company that is among the state’s largest construction contractors, has been sold to a new investment group focused on expanding the company’s services and reach.

Hamm sold to Summit Materials LLC, a new private, Washington, D.C.-based holding company with a focus on mining and materials. Members of the Hamm family had owned a majority of the company, while employees held the remainder through an employee stock-ownership plan, or ESOP.

Terms of the transaction, announced Friday evening, were not disclosed.

The sale will not be expected to affect the jobs of Hamm’s 250 employees, other than to provide the company with resources to expand the breadth of Hamm’s current operations, said Charlie Sedlock, division manager.

Hamm already is lead contractor for a $130 million project on the Kansas Turnpike — a project to replace two bridges over the Kansas River, rebuild two interchanges and making associated improvements. Hamm now will be looking to expand into other sectors of construction and materials, Sedlock said.

Hamm also owns and operates a 350-acre landfill in Jefferson County, which serves the city of Lawrence and 14 counties in northeast Kansas. The sale will give Hamm an opportunity to explore other methods of waste management, Sedlock said.

Hamm’s quarry business — the company owns and operates about 35 limestone quarries in northeast Kansas — will continue to provide rock for road gravel, concrete and other construction uses. Hamm’s asphalt operations also will continue.

Rod Hamm remains president of the business incorporated in 1954 by his grandfather, Norman Hamm. All employees and senior management also remain on the job.

“We view this as win-win partnership that allows the Hamm family and our employee-owners the opportunity to diversify while, at the same time, expanding the company’s ability to grow geographically and offer more products to our clients,” Rod Hamm said, in a statement.

Comments

Charlie Mehl 5 years, 4 months ago

Wow! I've never seen a hill being replaced with garage. It must be lovely now!

Richard Heckler 5 years, 4 months ago

Washington D.C. thinkers and their shareholders will one day move in and take over. They want to do to Kansas what they've done to the east coast. Increase the cost of living East Coast Style while telling us it is improving our quality of life.

Richard Heckler 5 years, 4 months ago

And the cost of trash service will increase AGAIN dramatically cuz east coast investors will be expecting a nice return.

Time for PAYT http://www.epa.gov/waste/conserve/tools/payt/index.htm

Sunny Parker 5 years, 4 months ago

It is their company, they can do with it as they wish!

Don't be haters of the wealthy!

monkeyhawk 5 years, 4 months ago

Maybe that hill is actually created from gar(b)age.

Steve Miller 5 years, 4 months ago

Remember that sunny whe it cost you double to get your trash disposed of.

Godot 5 years, 4 months ago

Stimulus dollars at work. Here comes da unions.

sci4all 5 years, 4 months ago

Nancy Boy, did you ever let Hamm know about your complaints about their trucks' speed?

Hopefully you're not just one of those blowhards who's too lazy or cowardly to actually do something about a problem.

tomatogrower 5 years, 4 months ago

Actually those trucks are hauling in trash from the east coast to dump in our landfills. They get paid by the load, so don't get in their way, they'll run you down. I don't think it will matter if anyone complains, unless they change their compensation. I sometimes take 32 to Bonner and I always cringe when I see one of their trucks.

Hey, I'm going to write this on my calendar. Tom and I agree on something.

endlesspossibility 5 years, 4 months ago

the sale of a company of this size in a economy that is poor at best is quite impressive to me. the hamm family and the employee investors should be proud of how far this company has come from its simple roots as a traveling harvest town, to a multi million doller midwest construction powerhouse. I say hats off to the Hamms and there fellow employees, I wish you all continued growth and prosperity with your new partnership.

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