Wright Companies Sold to Kelso-Backed Armada Materials

Client Type: Private Company

We represented, Wright Paving Contractors, Inc. and Custom Stone, LLC “Wright Companies,” an asphalt and aggregates production, milling and paving company, in its sale to Kelso-backed Armada Materials, LLC, a rapidly growing producer of aggregates, asphalt, and other infrastructure materials and services. Terms of the transaction were not disclosed.

The company will be combined with Armada’s existing Volunteer Materials operations in Tennessee. Bass, Berry & Sims, led by attorney Frank Pellegrino, represented Volunteer Materials, a vertically integrated producer of aggregates, asphalt, and ready-mix concrete and a provider of road paving and striping services, in their sale to Armada Materials last year.

The Wright Companies team was lead by Bass, Berry & Sims attorneys John Fuller and included corporate attorneys Shay Ahmed, Shelby Bess, Danielle Hunt; Michael Stewart and Marisa Rouse (real estate); Phillip Lewis and Taylor Curtis (tax); Doug Dahl (employee benefits); Lymari Cromwell (labor and employment); Emily Burrows (intellectual property) and Daniel Riley (litigation).

“We are grateful for the opportunity to represent Wright Companies in this transaction, which continues to build upon our firm’s notable experience representing family and founder owned businesses in the construction and industrials sector,” said Fuller.

The transaction was highlighted in several media outlets, including:

Founded in 1973 with only three trucks, the Wright Companies have since expanded into asphalt and aggregates production, milling and paving, while also growing to 50 employees across locations in Pottsville, Shelbyville, and Fayetteville. The Wright Companies will be combined with Armada’s existing Volunteer Materials operations in Tennessee.

Bass, Berry & Sims has advised in more than 200 buy side and sell side transactions across a variety of industries over the past two years. As a result of the depth and breadth of our private equity experience, the firm has been recognized in several leading rankings and league tables, including being named Law Firm of the Year in 2021 by The M&A Advisor. We’ve consistently been recognized by The M&A Advisor for our deal work, most recently winning the M&A Deal of the Year (Between $1B-$5B) in 2023. In addition, the firm has been listed in leading league tables, including recent rankings as #20 Most Active in U.S. Private Equity (PitchBook, Q3 2023) and #4 Most Active in Healthcare PE (PitchBook, Q3 2023). To learn more about our team, industry experience and value-add, click here.

We represented, Wright Paving Contractors, Inc. and Custom Stone, LLC “Wright Companies,” an asphalt and aggregates production, milling and paving company, in its sale to Kelso-backed Armada Materials, LLC, a rapidly growing producer of aggregates, asphalt, and other infrastructure materials and services. Terms of the transaction were not disclosed.

The company will be combined with Armada’s existing Volunteer Materials operations in Tennessee. Bass, Berry & Sims, led by attorney Frank Pellegrino, represented Volunteer Materials, a vertically integrated producer of aggregates, asphalt, and ready-mix concrete and a provider of road paving and striping services, in their sale to Armada Materials last year.

The Wright Companies team was lead by Bass, Berry & Sims attorneys John Fuller and included corporate attorneys Shay Ahmed, Shelby Bess, Danielle Hunt; Michael Stewart and Marisa Rouse (real estate); Phillip Lewis and Taylor Curtis (tax); Doug Dahl (employee benefits); Lymari Cromwell (labor and employment); Emily Burrows (intellectual property) and Daniel Riley (litigation).

“We are grateful for the opportunity to represent Wright Companies in this transaction, which continues to build upon our firm’s notable experience representing family and founder owned businesses in the construction and industrials sector,” said Fuller.

The transaction was highlighted in several media outlets, including:

Founded in 1973 with only three trucks, the Wright Companies have since expanded into asphalt and aggregates production, milling and paving, while also growing to 50 employees across locations in Pottsville, Shelbyville, and Fayetteville. The Wright Companies will be combined with Armada’s existing Volunteer Materials operations in Tennessee.

Bass, Berry & Sims has advised in more than 200 buy side and sell side transactions across a variety of industries over the past two years. As a result of the depth and breadth of our private equity experience, the firm has been recognized in several leading rankings and league tables, including being named Law Firm of the Year in 2021 by The M&A Advisor. We’ve consistently been recognized by The M&A Advisor for our deal work, most recently winning the M&A Deal of the Year (Between $1B-$5B) in 2023. In addition, the firm has been listed in leading league tables, including recent rankings as #20 Most Active in U.S. Private Equity (PitchBook, Q3 2023) and #4 Most Active in Healthcare PE (PitchBook, Q3 2023). To learn more about our team, industry experience and value-add, click here.