Argos Cements Position

Colombian Cementos Argos, Latin America’s fifth-largest cement producer, has agreed a third acquisition in the US market. Argos has agreed to buy Ready Mixed Concrete Company (RMCC) from US private equity firm Audax Group for an enterprise value of $435 million. The deal represents the largest investment into the US by a private Colombian company. Last year Argos bought two US companies – in Texas and Arkansas. RMCC is the leading provider of ready-mixed concrete in North Carolina, South Carolina, and southern Virginia, producing approximately three million cubic yards of concrete annually. It was acquired by Audax in 2004. Cementos Argos is owned by Colombia’s largest conglomerate, GEA. Argos currently supplies 9% of all cement imported into the US. Citigroup Corporate and Investment Banking acted as exclusive financial advisor to Audax and RMCC.