Industry : Infrastructure Services and Industrial
Type : M&A Sellside
Ownership : Private
Location : Pleasantville, NJ
Delancey Street Partners is pleased to announce that we served as financial advisor to A.E. Stone, Inc. (“A.E. Stone”), a leading regional provider of construction materials and paving services, in its sale to Kiely Holdings, an affiliate of J.F. Kiely Group. Delancey Street partnered with A.E. Stone to assess, evaluate and explore strategic alternatives; managed a competitive sell-side M&A process; and negotiated the terms of the transaction.
Headquartered in Pleasantville, New Jersey, A.E. Stone is one of the largest providers of construction materials, principally hot mix asphalt and aggregates, in it’s served market. The Company operates multiple strategically located hot mix asphalt plants with rail access. A.E. Stone’s materials are used in a variety of construction projects, including roads, highways, bridges, and parking facilities. The Company also offers paving and pavement recycling services. With a legacy of more than 90 years, A.E. Stone enjoys a strong position in its region and a reputation for premium quality products and services.
J.F. Kiely Group (“Kiely”), headquartered in Long Branch, New Jersey, manages multiple companies focused on different disciplines of utility infrastructure including construction, engineering, equipment, and manufacturing in the Mid-Atlantic region. Through J.F. Kiely Construction Co., Kiely offers diverse services including the installation of underground natural gas, cable, electric, water and sewer lines as well as horizontal directional drilling, high pressure tapping and stopping, conventional trenching, paving, welding, plastic fusion, snow control, fleet maintenance, and heavy transportation services. Through J.F. Kiely Service Co., Kiely provides engineering, procurement, and project management to the oil and gas industry.