Alley-Cassetty Companies, Inc., one of the nation’s largest independent and family owned and operated masonry material distributors, announced Thursday it has entered into an asset purchase agreement to acquire LoJac Materials, Inc., a provider of brick, block and stone.
The move expands Alley-Cassetty’s reach from 11 to 14 locations in the Southeast.
Alley-Cassetty will acquire LoJac’s concrete block manufacturing facilities in Lebanon and in Dickson, as well as a yard in Cookeville. Combined with its existing facilities in Gallatin and Murfreesboro, the expanded footprint will improve manufacturing efficiency and capacity to more than 12 million block a year, enabling Alley-Cassetty to inherit manufacturing expertise to improve cost of operations.
“Along with well-cultivated customer relationships, LoJac Materials delivers a proven track record of quality masonry products and services as well as distribution channels that are complementary to Alley-Cassetty,” Alley-Cassetty CEO Sam Strang said. “The acquisition also allows Alley-Cassetty to increase our Southeast footprint with additional locations in Middle Tennessee, and we are thrilled to bring this outstanding company under our umbrella.”
Alley-Cassetty’s acquisition does not include the LoJac name and trademark or other subsidiaries that are not engaged in the masonry products business. It is expected that the agreement between Alley-Cassetty and LoJac Materials will close in January 2019.
“This transaction is a natural progression of the Blockworks joint venture that Alley-Cassetty and LoJac entered into three years ago” said J.D. Lowery, chief executive officer of LoJac Holdings Corporation, Inc. “It combines the retail and delivery side of both block and brick for greater efficiencies and customer service.
“LoJac is proud of its more than 25 year history and how this transaction will result in transitioning of all the employees related to that division of LoJac’s business.”
Alley-Cassetty ranks as one of Nashville’s largest private 100 companies. Alley-Cassetty Brick operates brick, block and stone retail locations in Nashville, Berry Hill, Murfreesboro, Columbia, Gallatin, Clarksville, Bowling Green, Ky., and Atlanta.