FMI Advises JSL Materials, Inc. in Sale to Peckham Industrie
RALEIGH, N.C., Jan. 8, 2020 /PRNewswire/ -- FMI Capital Advisors is pleased to announce the acquisition of JSL Materials, Inc. (parent company to John S. Lane & Son and JSL Asphalt) by Peckham Industries, Inc. Located in Westfield, Massachusetts, JSL Materials is one of the leading aggregate producers in New England. JSL Materials' operations, leadership, and more than 100 dedicated employees will provide Peckham with expanding opportunities in the region. FMI Capital Advisors served as the exclusive financial advisor to JSL Materials for this transaction.
"This acquisition allows us to further integrate a very important part of our supply chain in the Massachusetts and Connecticut markets," stated John R. Peckham, President of Peckham Industries, Inc. "We recognize the prominent history of JSL Materials, Inc. and the significant contribution the business has made to the region. The acquisition of JSL Materials is a very proud moment for Peckham Industries and we look forward to the integration of these two family-owned and operated companies."
Noted Jonathan Lane, Vice President and Secretary of JSL Materials, Inc., "We are extremely excited for John S. Lane & Son and JSL Asphalt to join Peckham Industries. Our shared values as family-owned companies will ensure a seamless transition as we work through the integration process. We are looking forward to being a part of the growth of Peckham Industries into Massachusetts and the surrounding region."
About Peckham Industries, Inc.
Privately held Peckham Industries, Inc., a family operated company since 1924, now employs nearly 1,000 people at more than 25 facilities located in Connecticut, Massachusetts, New York, and Vermont. Peckham and its subsidiaries provide road construction materials and road construction services, including hot asphalt, liquid asphalt, asphalt emulsion, stone and aggregates, ready mix concrete, and liquid calcium chloride, as well as precast concrete components for large-scale construction projects throughout the Northeast.
About JSL Materials, Inc.
JSL Materials Inc. has been in the construction materials industry since 1890. The company was started by John S. Lane, a railroad employee who had the foresight and vision to discover the need for aggregate to support the tracks. Today, JSL Materials subsidiary John S. Lane & Son is one of the leading aggregate producers in New England, with five mining operations including four quarries and one sand/gravel pit in central Massachusetts. A second subsidiary, JSL Asphalt, Inc., is a significant player in the supply and installation of bituminous concrete for the northern Connecticut market.
About FMI Capital Advisors:
FMI Capital Advisors, a subsidiary of FMI Corporation, is a leading investment bank serving the Construction Materials industry. With over 100 completed transactions in the Construction Materials sector, FMI's industry focus provides clients maximum value through deep market knowledge, strong technical expertise and an unparalleled network of industry relationships.
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SOURCE FMI Corporation