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.