Knife River announced that it has acquired Morgan Asphalt, an aggregates-based asphalt paving company serving the Salt Lake City, Utah area. The transaction marks Knife River’s entry into Utah and expands its presence in the Mountain Region.
Morgan Asphalt serves public- and private-sector customers across northern Utah. Its operations include aggregate crushing and production with well over 30 years of proven reserves, asphalt production through a plant in the west Salt Lake City area, and contracting services, including asphalt paving, excavating, and grading.
The company employs approximately 250 people during peak construction season. Knife River said the business will be integrated into its existing regional operations as it prepares for the 2026 construction season, positioning the company for continued growth across its 15-state footprint.
Knife River Corporation, a member of the S&P MidCap 400 index, mines aggregates and markets crushed stone, sand, gravel, and related construction materials, including ready-mix concrete and asphalt. The company also provides vertically integrated contracting services, with a focus on publicly funded DOT projects and industrial, commercial, and residential developments.
KEY QUOTE:
“We’re excited about this strategic expansion of our Mountain Region and establishing a footprint in one of the fastest-growing states in the nation. Thom Morgan, Matt Morgan and their team have built an excellent reputation in the market, and this acquisition provides Knife River a growth platform that will be integrated into our existing regional operations. We’re excited to welcome Morgan Asphalt to the Knife River team ahead of the 2026 construction season, and we look forward to additional growth opportunities across our 15-state footprint.”
Brian Gray, President and CEO, Knife River
