Fayat acquires US asphalt plant manufacturer
08 July 2024
France-based construction company Fayat Group has acquired a controlling interest in US-based Asphalt Drum Mixers (ADM), an asphalt plant and component manufacturer.
A completed asphalt plant by US-based Asphalt Drum Mixers (ADM). France-based Fayat Group announced a majority-stake acquisition of the company earlier this month. (Image: ADM)
Financials for the purchase were not available.
Fayat said acquiring a majority share of ADM would help “expand its strategic position in North America” along with its current brands – Bomag, Dynapac, and Secmair – that already operate in the US asphalt sector.
ADM will join Fayat’s present brands – Ermont and Marini – within its mixing plants business unit.
“Fayat further strengthens its strategic position in the road construction and maintenance equipment segment,” said the company.
Family-owned prior to the majority purchase, Fayat said the two operating families will remain as minority investors with current ADM present, Mike Devin, remaining as president.
Jean-Claude Fayat, president of Fayat Group, said, “ADM is a key player in the road construction equipment market in North America, with a highly recognised brand. We will leverage its expertise and technologies together with our existing portfolio to continuously develop equipment that closely addresses our customers’ needs.”