it goes very effectively. This can be a first for me and also you. I am Brandon. Effectively, I am the editor for pavement maze, pavement upkeep and reconstruction journal, and I am right here with Marvin Jules, well-known for the again black high banter podcast, formally and now within the combine with
Yeah, it is good to be right here. This can be a enjoyable and thrilling time, however as we enterprise into new know-how that permits you and I to collaborate on in a an occasion or a put up in actual time. It is enjoyable.
Yeah, it is it is type of loopy, as a result of we have by no means achieved something like this earlier than, however right now’s information type of calls for that we, we get on and begin speaking about what’s going on. So Marvin, why do not you hit us off right here with the information that dropped late final night time? Yeah.
So in fact, with me, I feel all people is aware of, I preserve an in depth eye and ear to what is going on on on social media and whatnot, and a superb good friend, mutual good friend of ours, and a author with me on occasion in numerous publications, Brian Corridor, who has been at Lee boy for a very long time, posted on LinkedIn, that Fiat Group, who we all know very effectively within the asphalt business, signed An settlement to accumulate Lee boy, which is, for me, very, very thrilling information. There’s like two mergers inside the final 5 years that I have been enthusiastic about, and that is one in every of them.
Yeah, it is type of loopy, as a result of I already owns two corporations that make these identical merchandise, yeah, and I’ll say that one of many since I’ve solely been within the business for the final three years, one of many first issues that I realized and was interested by was the truth that omag and dynapac, , had this father or mother umbrella over high of it, yeah? And now that umbrella has gotten even larger, and I’m wondering what the professionals and cons of this example are going to be. What do you
assume? Yeah, and, , I’ve to apologize, as a result of on our on our put up, initially, it additionally stated, hum, proper. And I am like, Oh, that is not the place we’re at. However there the the Fiat Group does have an unlimited array of corporations which might be in the identical ballpark, proper, final 12 months with with Lee boy, during the last couple years, proper, even at payvex, we watch them unveil scorching field. We watch compaction gear come from Lee boy as effectively. And naturally, once we consider dynapac, I primarily consider dynapax compaction gear, however their materials movers and their pavers are additionally huge within the business. After which it involves Bomag. Proper? With Bomag, we take into consideration these enormous mills that they’ve put forth as their staple, together with all their nice compaction gear and whatnot as effectively. So it is actually a novel factor for me. It is at all times, it is at all times a type of only a actuality examine once you see an organization like FAYAT, who already has corporations on this ballpark, purchase extra corporations that provide the identical kind of merchandise, proper? As a result of more often than not, particularly with Lee boy, proper? We watch Lee boy purchase Roscoe, was like, oh, sweepers go nice with our pavers. Let’s purchase a sweeping firm. So it is smart, and then you definitely see this, and you are like, That is actually only a huge energy energy play and a giant energy shift.
It’s, I had the chance to fulfill with Mr. Faya in a really brief, like media fashion interview over the last con Expo. And I imply Marvin, I used to be as inexperienced as inexperienced might be throughout that interview. And it was intimidating barely. The person is a robust determine. Clearly. He has constructed an enormous conglomeration of not simply asphalt business, however all the gamut of the development business world. And it is even bigger, , abroad in. Within the European market. So it is attention-grabbing to see, within the final 12 months, there have been three main acquisitions, and I posted about this this morning on 4 building professionals and asphalt.com that these final three acquisitions by fireplace have been inside the final 12 months we had ADM, yep, all drum mixers obtained bought. After which mech lac, which makes like articulated dump vans and different varieties of vans. After which there’s now the Lee boy acquisition. So they’re definitely trying on the American economic system and the American market as a progress sector for them like this, , they have their European facet, however there’s positively some issues which might be influencing and pushing them to proceed to increase over right here. The query is, for you and different contractors, is, how will this, if in any respect, influence and alter, um, what’s, uh, what’s out there now that once you go to commerce reveals below a single banner, there will likely be, , the hearth group at all times has, like, the very massive banner it, there’ll Be dynapac, Bomag and Lee boy, yeah, .
So, yeah, yeah. Effectively, an attention-grabbing factor, I feel this is the factor, in case you , I, I’m going to a number of the conferences and a number of occasions as Do you. And we all know for a undeniable fact that the personnel that make these corporations up work together very well with the businesses that have been, quote, unquote the competitors as effectively. Like, there’s at all times this factor of, they’re doing this, we’re doing this. They’re bettering. We have to enhance. And it is created this local weather of, in my view, development proper on the producer’s facet. So I feel that in terms of me because the contractor, there are points of every model that I actually, actually take pleasure in. In the case of I used to be lucky sufficient to been to Lee boy now a pair instances, and so they’re in Lincolnton and their buyer sources, like, if I am if I’ve a Lee boy and I’ve points that sector of what they do is wonderful. There you continue to have that small hometown really feel proper the place the Lee household made this factor and will get it going. After which, once I take into consideration this, once you have a look at a snapshot of Lee boy, like, oh, they make papers. And also you have a look at dynapac like, they make rollers of papers. And also you have a look at bomas, they make rollers and gear. However once you get right down to it, Lee boy additionally has Rosco proper, which is a sweeping facet. I do not see any sweeping stuff once I go to the Bomag facet, or I’m going to dynapac facet. After which once you go to the fabric motion facet, you see that loads over on dynapack facet, I do not see it a lot on Lee boy facet. So I feel in my thoughts, it makes extra sense once I give it some thought, when in that side of listed here are these corporations that, though all of them make pavers, additionally they have small points that complement the opposite facet very well. And also you have been speaking in regards to the articulation gear and whatnot, yeah, that file acquired Mecalac. Yeah, what it does for me is I do not know if
I am announcing that accurately. By the way in which, it could be. It might be some. It by no means fails that I’ll say a reputation of an organization. It took me years to pronounce Wyler accurately,
yeah. What about vogula? Proper? Good luck with that one, I’ve to let you know that
for 2 years, I saved saying Wheeler each time, and it was not intentional. I could not get it out of my mind. So we’re saying steel act, and we’re praying that that’s, that’s
right, yeah. Effectively, the the large factor for me is that once I have a look at the grand scheme, meaning through has the whole lot from dynapax tiny little plate compactor to Lee Boys Road Sweeper, as much as dynapax 85 sequence paver, or, I imply Lee boys 85 sequence pavers. After which we go to Bo mags, mill machines, after which there’s articulation gear. So their hand is actually beginning on the littlest, tiniest a part of the asphalt business. As an instance we throw in two shovels stuffed with chilly combine asphalt. Then we’ve got compaction gear to get onto it. You should use a file piece of kit total, after which for example that we’re attempting to mill and get it right into a dump truck. And transferring on from right here, you even have, you might be utilizing a hearth piece of kit. So actually, it actually is a brilliant transfer in the event that they’re seeking to have a footprint in every single place. Yeah, all the way in which down.
Let’s so let’s take a step again and check out to have a look at a hen’s eye view right here, from a enterprise perspective, we perceive the worth for them such as you’ve laid out right here. Uh.
How, the way it advantages them and expands their footprint in america. However from the hen’s eye view, we again up and we glance, it is onerous to not wish to use the phrase monopoly. We do not, we do not use that phrase frivolously right here, however I imply, it is positively a perhaps the very best phrase to make use of is a consolidation, proper? It’s a blanket that they now have a big sector of the business. If we So, if we take their three corporations that now make up fires, paving, asphalt, business street constructing, arm. They’ve Lee boy. You may have dynapac and so they have bomac, yeah, who’re the who’re the now the remaining opponents within the house, you have got Aztec, right, right. Whyler Wheeler, you have got blah knocks mall is, I imply Malden, Malden Mauldin and vogula. So these are, like, the large these are most likely the largest names I can consider. I am most likely forgetting anyone, off the highest of my head, that makes no your caterpillar. Are we? Are we kidding ourselves? Sure. So meaning there are six huge gamers remaining. Which means 1/3 of the paving house is now a hearth umbrella, yeah.
Effectively, once we take into consideration like that, although, it isn’t very dissimilar, proper? As I discussed I made on our put up, we had the error of hum being included in that realm. However hum is definitely with Wyler with work. It is, yeah, no, I imply, I am sorry, with working, proper? So, and dealing is owned by John Deere, right, right. So, so right here we’ve got these collaborative elements as effectively, proper? After which once I we Volvo, proper? I did a chunk on Volvo rollers. So right here we’ve got one other sector that is in one other tiny half. So I feel once you have a look at the big image, it isn’t essentially 1/3 managed by hum. And there is all these different ones. It is, listed here are another ones. And we speak about Mauldin, Malden, Calder brothers, and Malden got here collectively at one level, proper? So we inform you may speak to the Calders once you’re on the Malden sales space at paybacks, proper? So it is actually distinctive to see, like that is type of the formulation and the place it goes. I feel what’s so telling about this one is Lee boy, proper? It is, I imply, once you once you assume asphalt, you one of many largest manufacturers you consider, and primarily lengthy, longest manufacturers ever, is Lee boy. So it is bizarre for me to really feel that, as a result of it would not really feel like a Fiat model, proper? We have for us because the contractors. It has been our model, proper for some time, and I feel that is what’s so interesting about it. The one of many one different excessive notes that I’d really feel dismissed if we did not speak about is the personnel, in order that the household of individuals which might be at dynapac and have been after which the household of individuals which were at Lee boy and dealing there, the way in which that they work together with us because the group is admittedly related. We are able to attain out to anyone on any member of these groups. I seen Hutch over on Lee boy final night time, posted that he is obtained the Northeast area of america. I am like, proper? Stellar dude instantly, , likes my remark, and is like, hey, , we’re capable of work together. And if I, if I used to be interested by this in any respect, I am positive I may name Brian or Christy and at Lee boy, and so they’d be like, Hey, that is what’s up. It is simply, it is a actually, as a lot because the model gear is vital throughout one thing like this, I feel the personnel and and the way in which that they work together with the personnel and the opposite manufacturers goes to be finally vital as effectively, and so they’re actually related. Fiat has achieved an important job Brian Beeler and his crew
at Yeah, effectively, Brian got here from Lee boy, keep in mind, proper, proper as I got here into the business. Um, that transition occurred prefer it was one of many first issues like that. I keep in mind studying that there was this transition. And it is attention-grabbing. It’s important to think about, now, I am speculating wildly right here, however it’s a must to think about that Brian may need been no less than consulted, perhaps in a dialog. I imply, once more, speculating wildly. I’ve no nothing to go on there. However as being that he was part of Lee boy for a very long time, I think about that, , perhaps on some degree he may, , converse to that and their worth as an organization. However I feel you made a extremely attention-grabbing level in regards to the individuals now I’ve identical to you. I’ve some supply. Is on the within of Lee boy. And whereas they may stay nameless, the one factor that appears to be popping out, largely from inside camp right now, is like issues are going to remain the identical. Now, we hear this loads in American M and A’s proper, mergers and acquisition it one of many first issues that at all times comes out is issues are going to remain the identical. Nothing’s going to vary. Persons are going to nonetheless get the identical product and providers. We at all times hear that proper now, typically in some industries, in some sectors, that does not at all times pan out to be the case, that issues keep the identical, however I’ve purpose to imagine that fireplace means what they are saying, as a result of we are able to have a look at a few of their different acquisitions in house, together with dynapac, which is a for much longer in historical past, however the ADM acquisition, they’re up and , up to now, the largest change has been that they ADM, as an American firm, has an entry to larger sources that they’re they’re experiencing, , an inflow of engineering experience, some capital, I am positive, and different issues that they perhaps did not have at their disposal. Now, if we have a look at the earlier homeowners of Lee boy ST Engineering, they did not have every other exterior of Lee boy. They did not have every other experience or expertise on this business. Right? They have been an possession like they owned it, however just like the that facet of their enterprise, I do not see that that they had any expertise inside inside the sector that is the place fireplace is massively totally different, proper? They, as an organization, have a long time of expertise on this sector, clearly, like in a unique a part of the world, but additionally the bo magazine and dynapac expertise, and they are going to carry that to Lee boy, simply having the information like Lee boy would not should struggle to clarify what the asphalt business is, proper, proper? They they already, they already know. However that is the factor, in case you obtained purchased by an organization that did not have that have, I imply, you would need to consistently be attempting to clarify how the business works and what the business does.
Yeah, you the the concept, , I seen anyone commented on the reside feed right here, like one thing will change and it will be in time. It is like, sure, however the whole lot adjustments in time, proper? Like we the way in which that you just and I are speaking now could be far totally different than it was 10 years in the past, proper? So it’ll change. And naturally, there’s different influences, however that occurs, whether or not you have got a change up within the govt degree administration positions and whatnot. I imply, for example, utilizing a file for example, Jamie Roush, main dynapac, for the final period of time that he did, fully modified the way in which that that model was checked out in our business, proper? And I’d argue that it is arguably for the a lot betterment, not solely of that model, however of our business as effectively. And I feel that that is going to be no totally different with Lee boy. I imagine some issues will change, however as you simply alluded to, the change is more likely to be in a optimistic route due to recordsdata expertise, their sources, the capital that Lee boy might have arguably needed to argue for to get put in numerous areas, may be speculating wildly, however sure, proper? I imply, it could be a no brainer. Proper to file and be like, that is a no brainer. Let’s do it. So it is very attention-grabbing. You recognize, I am unable to keep in mind the place we flew into. Perhaps you have seen it, Brandon, once we flew in someplace, however I keep in mind seeing an ST emblem on a hanger proper with the aeronautical facet. Perhaps once you’re in Vegas, perhaps it was Vegas. And I simply was like, Was it superior? Was it awesomely cool to assume that the individuals which might be creating flying machines additionally personal the Lee boy model as effectively. Sure, do I do know that it was for the betterment of it? I do not know, however I do know. I do know that if I get round a bunch of fellows that set up asphalt, and that is all they do, and so they speak about the way to do it higher, chances are high my set up experience goes to maneuver up slightly bit, and I simply have a sense that that is going to what is going on to occur right here at Lee boy. It is actually neat, as a result of I like the engineers at Lee boy. A few of these conversations I’ve had with these guys are completely unbelievable. After which for them to have the ability to be in communication with recordsdata, bigger immediately in communication with fires, bigger sources in that subject, will get me excited. It simply does. I am all in regards to the development of merchandise in our business and the way in which it has been transferring and transferring ahead. We see that with lasers on our pavers now. We see that with GPS techniques and cease
the presses. Cease the presses over on our Instagram Reside Feed. Uh, your identify dropped. Jamie Roush has joined the the reside stream. He’s in he is within the chat. I additionally wish to handle two issues, and the place there’s slightly little bit of a delay, however a gross sales particular person for a dealership group commented on the reside stream that, as a supplier rep, there may be an expectation of extra capital being invested into Lee boy, now that is from RW South salesman, so we’ve got no method of verifying that, clearly, however anyone has jumped into the chat, seemingly from the dealership facet, saying that there is that expectation. Jamie’s laughing as a result of we referred to as him out. However this, , that is huge information, and , we wished to be on the forefront of what was being talked about. I would like to get some reactions from individuals listening, what you consider this transformation. In the event you’re a Lee boy, you at present personal a Lee boy. Or are you able to working? How do you are feeling about this? What have been you enthusiastic about this? Positives, , and potential drawbacks. We wish to hear the gamut of it. We’ll be on for perhaps one other 989, minutes right here earlier than we leap off. But it surely’s positively one thing that is going to have repercussions within the business that, certainly, this, such as you stated, there will likely be some adjustments, proper?
Yeah, yeah. What I am enthusiastic about is the blokes that have been like Bo magazine until I die, Lee boy, take a hike, and now we obtained each of them beneath one umbrella. I at all times discover it attention-grabbing. It is like the blokes that like Chevy and like dodge and Ford, after which impulsively, , if one in every of them went below one of many different main manufacturers, how they might really feel about that. However I have been lucky sufficient, like I stated, as you have got as effectively, for us to be round these corporations and the people who run them loads to know that they’re all wanting issues to get improved and higher and create a greater expertise for the client and the contractor on the again finish, which, as a contractor, this had me excited, prefer it’s, it is cool for us to have the ability to see,
yeah, I feel, I feel it’s thrilling. It is such thrilling information that I needed to get a trial subscription to stream yard in order that we may, we may leap on right here and speak about it. However I feel it might be cool, Marvin, if you and I, set a weekly appointment perhaps, and get on right here and have slightly spherical up of the week’s information and speak about issues this has been, this has been enjoyable to leap on one thing and so speedy, , and actually speak in regards to the repercussions.
Yeah, yeah. I feel, I feel we want, we want extra of that. It is actually cool to have the ability to be in contact with all people and type of see these items as they unfold, because it occurs inside our business. As a result of there’s a number of instances the place we’ll present as much as occasions whatnot, and never notice {that a} merger like this even occurred till you get to a superb like, oh, they personal them now. Effectively, no marvel I could not speak to so and so over right here anymore, or nonetheless it labored out. So it is actually cool. It is thrilling instances we see a number of instances, , personnel adjustments and whatnot, at these these manufacturers and these bigger producers and suppliers, however in to see one thing like this, that is actually harking back to the early blacktop banner years when the rumblings of a gem seal being purchased out by seal grasp factor occurred, proper? And we have been like, Whoa. Like,
that is I wasn’t right here for that. So I do not, yeah, yeah. I wasn’t within the business. Yeah? For
me, that was like, Whoa, as a result of these are the 2 huge ones. That is actually harking back to that for me. And I feel in case you speak to anyone on personnel from both a type of manufacturers, when that occurred, it has been nothing however good issues. And I feel greater than possible that is what we will see right here too. It is, it is actually thrilling, as a result of when you consider these manufacturers in two totally different points, effectively, I gotta say a 3rd model there with dynapac to me once I image them in my thoughts, proper? And that is what as advertising, that is what you are hoping to do, is create a model in your thoughts, that in terms of the primary of thought, that is what you assume. I see the I see what our good friend Matt Stanley has achieved. It is gritty Gothic for the contractor, proper proper angle edges, laying it down, placing it down. And then you definitely see the opposite manufacturers, dynapac is for me. In any case, I consider finesse. I give it some thought being achieved with artistry. And in terms of Bomag, I feel we will get it achieved like the roles larger the higher. You may have the very best stuff sitting out right here. Let’s mash it in and get
it achieved milling. You recognize, Bomag, that is I, , one of many issues they create, clearly, that you just have been speaking about, Lee boy has sure points with the brooms and stuff like the upkeep facet, proper? Lee boy, during the last 12 months, going again to payback. X the place am I at? Cannot see reverse. Going again to paybacks, primary in San Antonio, , they have been confirmed up with the new field, and so they have been type of making a press release, like individuals, is get goes to be increasing into the upkeep, , arm of the business in a larger method, not simply making the pavers, however giving another issues. And on just like the Bomag facet, such as you talked about, I imply, they’ve the large milling machines which might be distinctive to their silo of the model, and dynapac, if I am enthusiastic about what they’ve that is distinctive to their silo of the model, there are two issues that leap to my thoughts. They’ve the fabric switch automobiles which might be distinctive to their silo and likewise type of lesser identified. They’ve the spray tack pavers, which I am unsure if these have made their strategy to the states but. I do know that it was largely in Europe at first. However additionally they have one thing. They’ve these excessive density asphalt pavers, and they’re one in every of solely two corporations, together with vovila, within the US, which have excessive density pavers now that is largely used within the street constructing facet together with they’re going to do like curler compacted concrete with it. However there was a specialised machines, proper? These are distinctive and specialised. So I feel a number of instances when individuals see fireplace having these a number of corporations like, effectively, all of them make the identical factor. That is not true. They are not making the identical issues. You visited the Lee boy manufacturing unit. I visited the Lee boy manufacturing unit. What they’re making there may be, is exclusive to them. You recognize, they, they work on the designs themselves. I noticed a few of the Lee household once I visited my tour. They have been at present just like the Lee household was on the market with gloves on, and so they have been engaged on the body of a brand new paper, attempting to, like, drawback remedy and troubleshoot some various things in regards to the framing. So it is like they’re they’re all distinct and distinctive issues. And when Jamie ranish Was the President, I as soon as, a very long time in the past, put him on the spot in a video good. And I did, and I requested him, I stated, , why have all these corporations below this one roof? Why? You recognize, what is the objective of that? And I type of was poking at him, and I actually did not notice I used to be placing him in such a bind once I did, as a result of I used to be so new. However his reply was good then, and it is nonetheless good now, though he is moved on to a brand new business, is that there’s a model. I do not wish to name it a following, however there is a loyalty to every of those manufacturers. And also you type of on this like people who find themselves loyal to Bomag. That is what they’re. They like dynapax for his or her, , for his or her machines. Like, there’s an enormous following for dynapac rollers. That is one thing that individuals are captivated with. They have been, , utilizing these for his or her entire careers. And Lee boy, clearly, , you talked about the Stanley household. I would love if, I would love in the event that they weren’t working right now, and so they may, , you had a rain day. I obtained fortunate, however I want that they had a rain day and will leap on right here and actually give us the how they really feel and what their response is, that you just may need to name them afterwards, and I will
see if I get mad on right here. The the largest factor proper is that as a lot as we speak in regards to the positives of those corporations, which I am I am optimistic and optimistic oriented anyway, so every time I see something damaging, I am like, Effectively, that is only a drawback to unravel, and more often than not, these corporations will maintain all these issues, however you do have some people who look down upon sure manufacturers or various things or no matter. And I’d think about, if there’s anyone who has any shade to throw at Lee boy about saying whether or not they lack right here or lack there or wherever, it is going to be actually onerous to imagine that these are issues which might be neglected or that they do not have the potential of caring for now with file, proper? So it is, it is an thrilling factor. It actually, to me, it is actually going to spice up the model, irrespective of
what. Proper? So I agree my right now, as of June 25 my feeling about it as a member of the media and following the business writing about it, I really feel like that is an total internet optimistic, for positive, for Lee boy. I feel that those that are loyal to Lee boy and that buyer base, I feel they’re solely going to see advantages from it. I feel that over time, we’ll we’ll revisit this, proper? And we’ll should see additional, like what adjustments and what issues occur because it performs out. We are able to know the long run, however I feel that, yeah, as of right now, I It is thrilling, and I feel that it is going to be an total internet optimistic with that. I feel we must always draw this. Reside to shut, it was, it was superior, Marvin, to come back on. I feel we must always, we must always perhaps plan on doing a few of this once more. You bought something you wish to plug actual fast, after which we’ll jet,
probably not, man, I am simply excited. Like we, we speak about, we will revisit this in slightly bit. I think about it is going to be at payvex. We’ll see, we’ll begin to see a few of the stuff trickle in of what adjustments might be if they will occur. After which, in fact, I am positive you are going to be part of me once more in Vegas this 12 months for therefore we’ll be capable to see it in a bigger scale there, as these corporations will likely be there too. So actually cool. I simply admire all people following alongside. What we do, each at pavement magazine and at within the combine, and what we do over right here as effectively. And the help, I am positive you agree with this, the help for what we do helps preserve us going and doing stuff like this.
Yeah, man. Additionally simply wish to let all people know that the pavement awards for 2026 are open, yeah? So in case you’ve obtained some gnarly, superior initiatives that you have already achieved this season. Some early initiatives. Ensure to go to asphalt.com lookup our awards and apply some , it’s very free. I wish to guarantee that everybody within the again can hear that, sure, 100% free to ship us an software for one in every of your initiatives to win some business recognition. As
far as I do know, Brandon, I do not assume I’ve ever paid for something that I’ve submitted anyplace, whether or not it was a survey or whether or not it was for an award, proper? So,
, I get too far into that. Let’s let that that is that lie, proper?
I feel, I feel, , in case you pay shut sufficient consideration and also you resolve to participate in it, it is going to be very clear so that you can perceive how all these items work. So as soon as once more, we actually admire you placing that on, yeah, for me, I am excited the within the combine podcast drops subsequent month, and we’re actually enthusiastic about these conversations that we’re having with contractors throughout the nation. So very, very grateful for the help for getting that factor off the bottom and going once more, by you and by all people else and our companions in that as effectively. Very thrilling instances coming inside the subsequent six
months. Very thrilling. And you’ll at all times try the no edge line sequence on right here, on this Instagram channel and on our YouTube web page. You may see all these movies, and ensure to only remark your reactions beneath. We might like to see these and comply with up on them subsequent time we speak. All proper. Thanks, all people. Thanks, Marvin, yep, you.
