BM Group Acquires Vancouver Ready Mix and Fraserway Prekast
Vancouver, BC, July 09, 2020 (GLOBE NEWSWIRE) — BM Group of Companies (BM Group) is pleased to announce the acquisition of Vancouver Ready Mix and Fraserway Prekast, further supporting its growing portfolio of construction, project management, material supply, and land development companies.
“BM Group now represents fourteen active independent businesses, offering a comprehensive network of complementary businesses to our clients,” said Balraj Mann, Chairman and CEO, BM Group. “Our financial strength matched by our portfolio of businesses brings cost savings, time efficiencies, and other benefits to our clients.”
“With over 30 years of experience in concrete (supply, restoration and materials testing), acquiring Vancouver Ready Mix was a natural step in expansion, enabling BM Group to double production capacity and serve new geographic locations,” said Racy Sidhu, partner in the BM Group’s Material Supply division. “Purchasing Fraserway Prekast as part of this acquisition was a unique opportunity, with capabilities to manufacture precast concrete products, which is aligned with BM Group’s core specialties.”
“We are bringing revitalization to an industry that is seeing ready mix and related concrete businesses continue to be absorbed by large multinational companies and equity companies,” said Milan Mann, Vice President, BM Group. “We are proud to be a family-owned local business that can provide opportunities for employment and growth in our communities.”
The acquisition included fleet, equipment, property, goodwill, and unique opportunities in manufacturing concrete products. Both Vancouver Ready Mix and Fraserway Prekast will maintain their brand identities while becoming part of a local company with established roots in the construction industry.
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