Who Owns CalMat?

CalMat was founded in 1957 in Los Angeles, California, as an independent producer of asphalt and ready-mixed concrete. The company was established to serve the growing demand for construction materials in California, which was experiencing rapid population growth and infrastructure development during the post-World War II era. California's expanding highway network, residential construction boom, and commercial development created strong demand for asphalt and concrete products.

Asphalt mix is the primary material used in road construction and maintenance, consisting of aggregates (crushed stone, sand, and gravel) bound together with asphalt cement (bitumen). Ready-mixed concrete is a mixture of cement, aggregates, water, and admixtures that is produced at a central plant and delivered to construction sites in transit mixer trucks. Both products are essential construction materials with large and stable demand driven by infrastructure maintenance, new construction, and population growth.

CalMat established itself as a major supplier of construction materials in California and the western United States, building a network of asphalt plants and ready-mixed concrete plants across the region. The company developed strong relationships with general contractors, highway contractors, and infrastructure developers, becoming one of the largest independent producers of asphalt and ready-mixed concrete in the western United States.

Throughout the 1960s, 1970s, 1980s, and 1990s, CalMat grew both organically and through strategic acquisitions, expanding its production capacity and geographic footprint across California and neighboring states. The company developed expertise in producing high-quality asphalt mixes for various applications, including highway paving, airport runways, parking lots, and commercial developments, as well as ready-mixed concrete for building foundations, structural concrete, and infrastructure applications.

By the late 1990s, CalMat had grown to become one of the largest independent producers of asphalt and ready-mixed concrete in the western United States, with a significant network of production facilities and a strong market position in California. The company's scale and market position made it an attractive acquisition target for Vulcan Materials, which was seeking to expand its operations in California and to diversify into the asphalt and ready-mixed concrete markets.

In November 1998, Vulcan Materials Company acquired CalMat for $760 million in cash. This acquisition was transformative for Vulcan, marking its entry into the asphalt and ready-mixed concrete markets and significantly expanding the company's geographic footprint in California. The acquisition allowed Vulcan to offer integrated construction material solutions combining aggregates with asphalt and concrete products, providing customers with a more comprehensive range of construction materials from a single supplier.

Following the acquisition, CalMat continued to operate as a distinct brand within Vulcan Materials' portfolio, maintaining its market presence and customer relationships while benefiting from Vulcan's resources, technology, and operational expertise. The integration of CalMat's operations with Vulcan's aggregates business created synergies that enhanced efficiency and customer service, as CalMat's asphalt plants could source aggregates from Vulcan's quarries and CalMat's ready-mixed concrete plants could benefit from Vulcan's aggregate supply chain.

Under Vulcan Materials' ownership, CalMat has continued to invest in its production facilities, expand its product range, and maintain its market position in California and the western United States. The company has benefited from Vulcan's research and development capabilities, operational expertise, and financial resources, which have supported improvements in product quality, production efficiency, and environmental performance.