Rasmussen Group Acquires Subsidiaries of Johnson Holding Co.

Des Moines, Iowa (February 23, 2024) – Rasmussen Group, a family-owned entity, announces the acquisition of Johnson Holding Co. subsidiaries Ideal Ready Mix and L&W Quarries effective February 23, 2024. The announcement aligns with the retirement of four Johnson family members and the 40-year anniversary of their Ideal Ready Mix acquisition. These two acquisitions will increase Rasmussen Group’s family of companies and affiliates to 11 in total.

“It’s the perfect time to welcome Ideal Ready Mix and L&W Quarries employees and customers into our family of companies, as we share the same values and customer-centric approach to business,” said Lynette Rasmussen, chief executive officer of Rasmussen Group. “As we continue to pursue growth in our business, we intend to expand the positive impact to the communities we serve. As the Johnson family members retire, we are grateful to carry their legacy forward.”

Rasmussen Group is an Iowa-based company with over a century of construction industry expertise. Based in Des Moines, Iowa, and serving customers all over the central U.S., Rasmussen Group represents various multi-faceted construction services. The acquisition of Ideal Ready Mix and L&W Quarries aligns with the company’s core competencies and expands its service areas.

“With a shared commitment to customer service and company values, this is a natural fit for both parties,” said Jay Johnson, vice president of Johnson Holding Co. “Additionally, Rasmussen Group’s resources and operational footprint will allow Ideal Ready Mix and L&W Quarries the opportunity for future growth.”

Johnson Holding Co. states that it has been preparing for a potential sale for the past five years, as a full transition was made to the professional, non-shareholder management team of Chief Financial Officer Beverly Strah, General Manager Tom Alexander, and General Manager Brad Helmerson in 2018. The three leaders will remain part of the new organization, along with the existing employee base.


About Rasmussen Group

Rasmussen Group is the management organization for 11 individual companies and affiliates that operate to serve the construction industry throughout the Central United States. The synergies among these companies have allowed Rasmussen Group to grow, innovate, and generate a positive impact within the communities they serve.

NCP, Inc. acted as exclusive financial advisor and Faegre Drinker Biddle & Reath LLP acted as legal counsel to Johnson Holding Co. Belin McCormick, P.C. acted as legal counsel to Rasmussen Group.