Date: July 31, 2023

News - Chaney Enterprises Acquires Allied Concrete Company

Chaney Acquires Allied Concrete Company

Chaney Enterprises is pleased to announce the acquisition of Allied Concrete Company’s ready mix concrete business, headquartered in Charlottesville, Virginia. This acquisition continues Chaney Enterprises’ growth within the construction materials industry.

Allied will continue to own and operate its long-time concrete block and Valley Building Supply businesses located in Staunton and Harrisonburg, VA.

Allied Concrete Company, founded in 1945, has been family-owned and operated since its inception. Allied consists of 10 ready-mix facilities and approximately 120 team members. Ted Knight, the current President, will continue to lead the business with Chaney into the future.

“Chaney Enterprises is excited to incorporate a like-minded, and comparable culture business like Allied into our Family. Allied has a strong reputation as a market leader and has been an exceptional provider of ready-mix within the region for decades. We look forward to working with our new team members and Ted in building upon the strong foundation built by the McNeely family at Allied and servicing our growing markets.” said Francis Hall Chaney III, CEO of Chaney Enterprises.

“We are pleased to announce this transaction with Chaney, which delivers a compelling opportunity for our team members to join a dynamic company poised for continued growth in the Mid-Atlantic Region,” said Allied Concrete Company’s President, Ted Knight.  “We have long admired Chaney’s commitment to delivering superior products and service to its customers, and we believe the combination of Allied and Chaney will enable Allied to build on its strong momentum in the Charlottesville and Valley markets.”

Speaking on behalf of the McNeely Family and the board of directors of Eagle Corporation (Allied’s parent company), President Dave Paulson commented “we believe Chaney Enterprises will provide an outstanding platform for the continued growth and success of Allied and its team members.  Chaney’s core values are an ideal cultural fit for the company and its exceptional employees, whose hard work and dedication over many years made Allied a best-in-class operation.  We look forward to working with Chaney to complete the transaction and ensure a smooth transition for our team members and customers.”