Company: RMIX
Filing Date: 2025-11-12
Form Type: S-4
Source: 0001104659-25-110488
Chunk: 566

Company: Suncrete, Inc.
Filing Date: 2025-11-12
Form: S-4
Chunk 566
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Concrete Acquisition

On the Closing Date, Concrete Holdings entered into a Membership Interest Purchase Agreement (the “MIPA”) to acquire 6,000 units of membership interests in Eagle and 10,000 units of membership interests in Ram from the original equity members in those entities (the “Sellers”). Concurrently, the Sellers and Concrete Holdings entered into a Rollover Subscription Agreement (the “Rollover Agreement”) for which certain Sellers received equity membership interest in Concrete Holdings in exchange for 4,000 units of membership interest in Eagle (“Rollover Transaction”). Following these transactions, Concrete Holdings owns 100.0% of the outstanding membership interests in Eagle and Ram through wholly owned subsidiaries.

The primary operations of Eagle and Ram consist of providing high quality concrete materials across the Oklahoma and Northwest Arkansas regions.

Total consideration paid to the Sellers was $253.0 million, after closing and post-closing adjustments, for the Concrete Acquisition. The consideration paid to the Sellers consisted of (1) $189.2 million of cash, (2) $26.0 million of Senior Preferred Units (“Senior Preferred Units”), (3) $26.6 million of Preferred (“Preferred Units”), and (4) $11.2 million of Common Units (“Common Units”), each based on their estimated fair value. In addition, the Company assumed current liabilities of $10.3 million and lease liabilities of $0.9 million, all based upon estimated fair value at July 29, 2024.

The Concrete Acquisition was accounted for as a business combination. The assets acquired and liabilities assumed are recorded at their respective fair values as of the Closing Date. In connection with the Concrete Acquisition, the Company expensed approximately $7.4 million of transaction costs in the Successor period, recorded within Acquisition-related costs in the Consolidated Statement of Operations.

In the Successor period ended December 31, 2024, the Company corrected previously issued financial statements by reclassifying transaction costs related to the Concrete Acquisition from Other expense (non-operating) to Acquisition-related costs. The reclassification increased Acquisition-related costs and decreased Other expense (non operating) by approximately $7.4 million and had no effect on the assets, revenues, net income (loss), cash flows, or total equity. The Company has determined the correction was immaterial to the financial statements as a whole.

In connection with the Concrete Acquisition, the Company engaged a third-party valuation specialist to assist in determining the fair value of acquired intangible and tangible assets as of the acquisition date. The