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No job losses anticipated after sale of two Carver divisions
By Melanie Lekocevic
Capital Region Independent Media
COEYMANS — Carver Companies has sold its mining and trucking divisions to Heidelberg Materials North America.
The company, based in Irving, Texas, purchased Carver Sand & Gravel, the largest aggregates producer in the Capital Region.
The deal includes four quarries, three sand and gravel pits, a trucking business, two asphalt plants, and 70 million metric tons of reserves, according to a statement from Heidelberg Materials.
The two divisions have roughly 200 employees, said Carver Laraway, owner of Carver Companies. No job losses are anticipated.
“That’s the beautiful thing. Their presence was not in this area,” Laraway said in an interview, referring to Heidelberg Materials. “It was further west of here so every single quarry, every single truck will remain status quo. You wouldn’t even know it if you weren’t told.”
The acquisition took effect Aug. 1. Laraway declined to reveal the financial terms of the deal.
As part of the agreement, both sides are entering into a long-term partnership that calls for Carver Companies to handle logistics, maritime and tug-and-barge transport for Heidelberg Materials North America. Heidelberg Materials will handle trucking for Carver Companies in the Albany area. Much of Carver’s work will take place at — or out of — the Port of Coeymans, which is privately owned and operated by Carver Companies.
“We’ve done a strategic merger with Heidelberg. They are the largest in the world with 55,000 employees in 51 different countries,” Laraway said. “We work together — they are another partner in our growth plan and it should work out pretty smoothly over the next six months and we should be fine.”
The acquisition will allow Carver Companies to focus on its maritime business and the Port of Coeymans, Laraway said.
“It’s a long-term strategy plan so we can focus on the core parts of our business, which is more the marine, waterway, tugboats and barges opportunities,” Laraway said.
The deal was in the works for about four or five months before becoming finalized, he said.
“We work well together,” Laraway noted.
Heidelberg’s North American business already has a presence in Central New York and the Hudson Valley; the acquisition of Carver Sand & Gravel expands its statewide footprint to the Capital Region, connecting its two territories and providing access by water to New York City and other markets along the East Coast.
“The Carver Sand & Gravel business is a great fit with Heidelberg Materials and further expands our footprint in the eastern portion of the very attractive New York market,” said Matteo Rozzanigo, president of the Northeast Region for Heidelberg Materials North America.
Following the acquisition, Carver Companies’ major divisions will be maritime, construction, real estate development and materials businesses. Carver Companies will retain their materials divisions in the Southeast United States and Canada.
The maritime division, which makes up more than half of Carver Companies’ revenue, includes marine towing, stevedoring, steel works, the Port of Coeymans and a marine terminal in Charleston, South Carolina. Carver Companies owns a fleet of over 50 tugboats and barges, covering up to 3,000 miles of coastline.
