New Frontier Materials Acquires Aggregates & Asphalt Businesses From Fred Weber, Inc.

MARYLAND HEIGHTS, Mo., July 15, 2021 /PRNewswire/ -- Fred Weber, Inc., a construction materials and services provider based in St. Louis, sold its aggregates and asphalt assets to New Frontier Materials. These operations form the core of New Frontier, a platform company in construction materials backed by a private group of family offices and institutional investors. Fred Weber's Board of Directors voted unanimously to approve the transaction. Headquarters for both Fred Weber and New Frontier will remain in St. Louis. Financial terms of the transaction were not disclosed.

With this acquisition complete, New Frontier's operations now include more than 20 sites (stone quarries and asphalt plants) located throughout St. Louis. Aggregates and asphalt are essential inputs for constructing and maintaining our nation's buildings, roads and other critical infrastructure. Key customers range from concrete producers to construction companies to railroads. Capital investments in New Frontier's growth are aimed at improving plant efficiency, building upon safety and environmental programs, and strengthening employee training and development.

Sherrod B. (Mike) Clarke, a 35-year industry veteran, became CEO of New Frontier upon completion of this transaction. Doug Weible remains Chairman & CEO of Fred Weber.

Clarke said, "I am excited and honored to lead New Frontier. These operations have served the St. Louis community for decades and we will faithfully build on that commitment. We bring a long-term perspective and intend to grow by focusing on premium products and delivering superior customer service. I look forward to advancing the New Frontier philosophy with a continued focus on employee safety, environmental stewardship, and community relations. I am humbled to step into the shoes of accomplished CEO Doug Weible and wish him much continued success at Fred Weber."

New Frontier has a veteran Board of Directors chaired by Don James. Mr. James, retired chairman & CEO of Vulcan Materials, said, "We are excited to partner with Mike and the team joining from Fred Weber to create value for customers, employees, the St. Louis community, and investors alike. This transaction establishes a platform for growth, an important first step for New Frontier Materials." In addition to Mr. James, the board will include Bill Niketas, former CEO of Aggregates USA.

About Fred Weber, Inc.

Fred Weber, Inc. is a full-service construction materials expert headquartered in Maryland Heights, Missouri. The company supplies and delivers various grades of crushed stone, sand, asphaltic concrete as well as a wide range of surface and underground mining services. https://fredweberinc.com

About New Frontier Materials

New Frontier Materials was formed in 2020 to partner with, acquire, and grow companies in the aggregates and construction materials industry. The company believes in responsible ownership and stewardship of the local workforce, environment, and community.

Media Contact

Chris Ullman
+1-202-641-2234
[email protected]

SOURCE New Frontier Materials

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