Bridgewater's Stavola Construction Sells Family Business For $1.2 Billion

BRIDGEWATER, NJ — Stavola, the owner of the Chimney Rock Quarry in Bridgewater, is selling its family business to a Texas-based firm for $1.2 billion, in an all-cash deal.

"After 75 years of dedicated service and leadership in the New Jersey Construction Industry, Stavola Aggregates, Asphalt, Recycling and Contracting proudly announces the sale of its family business to Arcosa, Inc. The acquisition marks a significant transition in a local family company that has long enjoyed a market leading position in New Jersey," according to Stavola in a release.

Arcosa (traded on the NSYE as ACA) in Dallas provides infrastructure-related products in construction/transportation.

Stavola owns five hard rock quarries (including in Bridgewater and Hillsborough, 12 asphalt plants, including two in Tinton Falls and Old Bridge, and three recycling collection sites.

"After much consideration by the Stavola families, it was decided that now is the right time to pass the business on to a company who shares our values and commitment to our employees and customers. We are excited for the future of the company as it continues to grow and remain a market leader," said Stavola President Joseph C. Stavola III.

As part of the transition, Stavola said that all existing employees of Stavola will be retained.

"As we reflect on the journey of our company, we are filled with gratitude for the dedication and hard work of every one of our employees, past and present. Your passion, resilience and determination have been instrumental in our collective success, and we are truly grateful for your contributions," according to Stavola.

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