Cement company acquires asphalt firm February 19, 2009
Sunflower Cement Finishing Co., based in Lawrence, recently acquired Asphalt Improvement Co., also of Lawrence.
“Combining our services with AIC’s will help us serve the needs of the Lawrence area more effectively,” Sunflower President Jeff Engroff said. “We can now offer a comprehensive range of asphalt and concrete services, with a collective 50 years of experience between us.”
Advertisement Allied Business Group, a mergers acquisitions firm in Leawood, helped negotiate the transaction.
Sunflower, a cement-finishing company operating in Lawrence for the past 25 years, primarily serves general contractors that work for private companies, the city of Lawrence and Kansas University.
AIC is an asphalt contractor whose past projects include a Wal-Mart store and streets, driveways and parking lots.