
Ergon Asphalt & Emulsions
purchased
Russell Standard
, a liquid asphalt and asphalt emulsions supplier and pavement preservation contractor based in Pittsburgh.
FMI Capital Advisors
, which served as the exclusive sell-side financial advisor to Russell Standard, reported the deal.
According to FMI, Russell Standard dates back to 1929 when Niles Russell established an office for Tri-State Culvert Co. Today, the company operates eight terminals and two construction yards across Pennsylvania, Ohio, Maryland, Delaware and North Carolina, with pavement preservation operations spanning the Eastern U.S.
“We know that our business will be in good hands with Ergon and are confident that this will be an exciting new chapter for our employees and customers,” says Matt Johnson, owner of Russell Standard.
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