MIDDLETOWN, NY—Peckham Industries, Inc. announced earlier this summer the company had acquired E. Tetz & Sons, Inc. of Middletown, and its subsidiary, Tetz Asphalt LLC.
Collectively known as “Tetz,” the company is a leading aggregate, ready-mix concrete and hot-mix asphalt producer, serving customers in the Hudson Valley region with more than 130 employees.
The acquisition will expand Brewster, NY-based Peckham’s opportunities to serve customers in this fast-growing market. Northern Edge Advisors served as the exclusive financial advisor to the Tetz Family for this transaction. No financial terms of the transaction were disclosed.
“This acquisition allows us to further integrate and grow our presence in the lower Hudson Valley region of New York, one of the most rapidly growing parts of the state,” said Damian Murphy, President of Peckham Industries, Inc. “We recognize the prominent history of Tetz and the significant contribution the business has made to the region. Peckham believes that our ‘family by choice’ culture delivers value as the trusted supplier of construction materials, products, and services in the communities that we serve.”
Gary Tetz Sr., president of E. Tetz & Sons, Inc., said, “We are extremely excited for Tetz to join Peckham Industries. Our shared values as family-owned companies will ensure a seamless transition for our customers and employees as we work through the integration process. We are looking forward to being a part of the growth of Peckham Industries in the surrounding region.”
As a privately held, family-operated company now entering its 100th anniversary, Peckham Industries, Inc., employs nearly 1,200 people at more than 30 facilities located in five states (New York, Massachusetts, Connecticut, Rhode Island and Vermont). The enterprise provides road construction materials and road construction services, including hot asphalt, liquid asphalt, asphalt emulsion, stone and aggregates, ready-mix concrete and liquid calcium chloride. It also provides precast structural concrete components for large-scale construction projects throughout the Northeast.
