Nashua, NH Ã¢â‚¬â€ McLane, Graf, Raulerson & Middleton, Professional Association recently represented Quinn Bros. Corp. of Amherst, New Hampshire, in the sale of its Asphalt Division, located in Amherst, and the sale of its aggregate processing plant and equipment at its quarry located in Wilton and Lyndeborough, New Hampshire. McLane also represented Quinn Bros. Corp. in negotiating a related long-term mineral lease and agreement concerning the quarry real estate. The sales and lease, worth an estimated $10 million, were to Pike Industries, Inc. of Belmont, New Hampshire.
“This was a large, complex transaction requiring the coordinated effort of multiple legal disciplines,” said Attorney Tom Hildreth of McLane’s Nashua office. “Our Tax Department and Commercial Real Estate Group played major roles, relying on the professional expertise of some ten McLane attorneys. The entire deal, from letter of intent to closing, took eight weeks to finalize; although, QBC’s management had been laying the foundation for the transaction for months before that time.”
Gibson, Dunn & Crutcher, through its attorneys in New York and Texas, represented Pike Industries.
Quinn Bros. Corp. has operated in southern New Hampshire since the 1960s, producing and transporting, aggregate material, asphalt and cement. The company’s cement hauling division will remain an active component of its ongoing operations. Pike Industries is a wholly owned subsidiary of Oldcastle Materials, Inc., part of the CRH, plc corporate family headquartered in Ireland. CRH is one of the world’s largest suppliers of asphalt and building materials.
The former Quinn Bros. Corp. asphalt plant has the capacity to produce 500,000 tons of asphalt per year. Pike Industries currently has a contract to resurface sections of New Hampshire Route 101A in the towns of Milford, Amherst and Nashua, and is sourcing asphalt locally from the plant for that project.
The Quinn Bros. Corp. quarry, consisting of approximately 120 acres of land in the Towns of Wilton and Lyndeborough, contains an estimated 50 million tons of mineable material.