Knife River Corporation has officially entered the Utah market with the acquisition of Morgan Asphalt, a prominent asphalt paving company based in Salt Lake City. The deal strengthens Knife River's presence in the Mountain Region and sets the stage for expanded operations in one of the nation's fastest-growing states.
Morgan Asphalt has built a solid reputation over the years, providing a range of services to public- and private-sector clients across northern Utah. The company’s activities include aggregate crushing and production, with more than 30 years of proven reserves, as well as asphalt production from its west Salt Lake City plant. The company also offers contracting services such as asphalt paving, excavating, and grading. During the peak construction season, it employs approximately 250 people.
Knife River plans to integrate Morgan Asphalt into its regional operations as it gears up for the 2026 construction season. By adding this acquisition to its portfolio, Knife River aims to further its growth within its extensive 15-state footprint.
Brian Gray, President and CEO of Knife River, expressed enthusiasm for the company’s expansion into Utah, stating:
"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."
Knife River Corporation, a member of the S&P MidCap 400 index, specializes in the mining and marketing of construction materials such as crushed stone, sand, gravel, ready-mix concrete, and asphalt. The company also offers vertically integrated contracting services, with a focus on publicly funded Department of Transportation (DOT) projects, as well as industrial, commercial, and residential developments.
The acquisition of Morgan Asphalt underscores Knife River’s commitment to strategic growth and positions the company to capitalize on opportunities in Utah’s evolving construction market. As the 2026 construction season approaches, the integration of Morgan Asphalt is expected to enhance Knife River's capabilities and presence in the region.
