Ben Brock Acquires JBK Enterprises Inc., Renamed BROCK
Ben Brock, former president and CEO of Astec Industries Inc. (Nasdaq: ASTE), Chattanooga, has acquired substantially all of the assets of JBK Enterprises Inc. Brock is the president and CEO of the company, which was officially renamed BROCK following the acquisition. FourBridges Capital Advisors acted as exclusive financial advisor to Brock, structuring and negotiating the deal on his behalf. Baker Donelson provided legal counsel to Brock.
Owned by Lori Stafford, JBK was founded in 1990 as an equipment manufacturer and after-market parts supplier for hot-mix asphalt (HMA) plant owners. JBK’s office and manufacturing facility are located in Georgetown, Tennessee.
“My father, Jack B. Kibler, started JBK with a vision to provide quality equipment and parts to an industry he loved, and he was successful in his effort,” Stafford said. “With the sale of JBK to Ben, I know the company will continue to grow in the right way.”
“JBK was building a little bit of everything from buckets and drags to baghouses,” Brock told AsphaltPro. “We’ll continue to offer all those things, plus site construction services.”
He explained that, for the short-term, the company will continue to focus on the components that were JBK’s strength, but he and his team are in this for the long-term.
“It’s an industry I really love and love being a part of. Timing-wise, when you think about the pandemic, you can view it as a huge bump in the road, but it’s just that: a bump in the road. This is a long-term investment showing our confidence in the market. We’re thinking 10 to 15 years out.”
BROCK will continue to supply equipment and parts to the HMA industry and plans to add new products and services in the future. The company is well positioned for growth through its commitment to quality products, excellent service, and long-standing customer relationships cultivated by the leadership team, which includes: Travis Sneed as vice president, sales & operations; Robin Leffew as vice president, CFO; Anthony Caldwell as director of manufacturing & construction; Greg Stafford as manager of inside operations; and Jeff Beavers as manager of drafting.
For more information, visit https://www.brock.industries/.