8-K: Suncrete Expands Oklahoma Footprint with Schwarz Acquisition

Suncrete, a ready-mix concrete platform, completed the acquisition of Schwarz Ready Mix, significantly expanding its operations in the Oklahoma City metro area.

Summary

• Suncrete completed the acquisition of SRM, Inc. (d.b.a. Schwarz Ready Mix), SRM Leasing, LLC, and Schwarz Sand, LLC (collectively, Schwarz) on October 21, 2025.
• Schwarz operates a ready-mix concrete business in Oklahoma City, Oklahoma, and surrounding areas.
• This acquisition adds 20 ready-mix plants and over 100 mixer trucks to Suncrete's operations.
• More than 200 Schwarz employees will join Suncrete.
• The acquisition expands Suncrete's geographic footprint and asset base in the fast-growing Oklahoma City metro area.
• This transaction is part of the previously announced business combination agreement between Haymaker Acquisition Corp. 4 and Suncrete.

Sentiment

Score: 7

Explanation: The announcement details a significant strategic acquisition that expands Suncrete's market presence and asset base in a growing region, which is generally positive for growth prospects. However, it also includes standard risks associated with integration and transaction costs, preventing a higher score.

Positives

• Significant expansion of operations in the fast-growing Oklahoma City metro area.
• Strategic growth of geographic footprint within Oklahoma.
• Immediate gain of 20 ready-mix plants and over 100 mixer trucks.
• Integration of over 200 experienced Schwarz employees.
• Leveraging Schwarz's strong reputation and over 75 years of service in Oklahoma City.
• Creation of new incremental growth opportunities in surrounding markets.
• Reinforces Suncrete's growth strategy to scale into new local markets and increase asset base for concrete production and delivery.
• Positions Suncrete to benefit from ongoing population growth, urbanization trends, and infrastructure investment in the U.S. Sunbelt region.

Risks

• Suncrete's ability to successfully integrate the Schwarz businesses.
• Disruption of management time from ongoing business operations due to the transaction.
• Incurrence of substantial transaction costs.
• Potential adverse effect on Suncrete or Schwarz's ability to retain customers and key personnel.
• Potential adverse effect on maintaining relationships with respective suppliers and customers.
• Inability to achieve expected synergies or taking longer than expected to achieve those synergies.
• Additional risks not currently known or believed to be immaterial that could cause actual results to differ materially from forward-looking statements.

Future Outlook

Suncrete aims to continue gaining scale and growing in the highly fragmented ready-mix industry across the high-growth Sunbelt region of the United States. The company expects to benefit from ongoing population growth, urbanization trends, and infrastructure investment. The acquisition is anticipated to create new incremental growth opportunities in surrounding markets.

Management Comments

• "Today's acquisition significantly expands our operations in the fast-growing Oklahoma City metro area while strategically growing our geographic footprint in the state." Randall Edgar, Suncrete's Chief Executive Officer.
• "With today's transaction, we immediately gain 20 ready-mix plants and more than 100 mixer trucks." Randall Edgar, Suncrete's Chief Executive Officer.
• "We are pleased to welcome more than 200 Schwarz employees to Suncrete." Randall Edgar, Suncrete's Chief Executive Officer.
• "The strong Schwarz reputation represents more than 75 years of service in Oklahoma City, and we greatly value their capabilities and local relationships with a customer-first focus in a dynamic and growing market." Randall Edgar, Suncrete's Chief Executive Officer.
• "This acquisition exemplifies our growth strategy to expand Suncrete's geographic reach, scale our business into new local markets and increase our asset base for the production and delivery of high-quality concrete." Randall Edgar, Suncrete's Chief Executive Officer.
• "In addition, we believe this expansion creates new incremental growth opportunities in the surrounding markets." Randall Edgar, Suncrete's Chief Executive Officer.
• "Through our differentiated strategy and company culture, extensive operational experience, technological sophistication, and customer focus, we believe Suncrete can continue to gain scale and grow in the highly fragmented ready-mix industry across the high-growth Sunbelt region of the United States." Randall Edgar, Suncrete's Chief Executive Officer.

Industry Context

The ready-mix concrete industry is described as highly fragmented. Suncrete is strategically positioned in the rapidly growing and economically resilient U.S. Sunbelt region, aligning with trends of population growth, urbanization, and infrastructure investment. The company operates as a mission-critical partner in the construction value chain.

Stakeholder Impact

• Shareholders (Haymaker): Will vote on the Business Combination, and their investment will transition to PubCo securities.
• Employees (Schwarz): Over 200 employees will join Suncrete, potentially impacting their employment terms and company culture.
• Customers (Schwarz/Suncrete): The acquisition aims to enhance service and expand offerings in the Oklahoma City area.
• Suppliers (Schwarz/Suncrete): Relationships with suppliers will need to be maintained and potentially integrated.

Next Steps

• PubCo and Suncrete intend to file a registration statement on Form S-4 with the SEC.
• The Form S-4 will include a proxy statement for Haymaker's shareholder meeting to vote on the Business Combination.
• The Form S-4 will also include a prospectus for PubCo's securities to be issued in connection with the Business Combination.
• Haymaker shareholders will vote on the Business Combination.

Key Dates

Keywords

Ready-mix concrete, Acquisition, Oklahoma City, Construction materials, SPAC, Business combination, Sunbelt region, Haymaker Acquisition Corp. 4, Suncrete, Schwarz Ready Mix, Infrastructure investment