Martin Marietta Materials, Inc. completed the acquisition of 20 Active Aggregates Operations in Alabama, South Carolina, South Florida, Tennessee, and Virginia from Blue Water Industries LLC.
April 04, 2024
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Martin Marietta Materials, Inc. (NYSE:MLM) entered into a definitive agreement to acquire 20 Active Aggregates Operations in Alabama, South Carolina, South Florida, Tennessee, and Virginia from Blue Water Industries LLC for $2.1 billion on February 11, 2024. The BWI Southeast transaction will be financed with balance sheet cash. Blue Water Industries will continue to operate its aggregates operations in North Carolina and central Florida, as well as its marine terminal business. The transaction is subject to regulatory approvals and other customary closing conditions and expected to close later this year. As of February 23, 2024, transaction is expected to close during 2024. The transaction is Immediately accretive to operating earnings, margins and cash flows. Wachtell, Lipton, Rosen & Katz LLP acted as a legal advisor and The Greystone Group LLC acted as a financial advisor to Blue Water Industries LLC. J.P. Morgan Securities LLC acted as financial advisor to Martin Marietta Materials, Inc. Robert I. Townsend III, George F. Schoen and Matthew G. Jones, Joseph D. Zavaglia, Christopher K. Fargo, Matthew J. Bobby, Arian Mossanenzadeh, David Crampton, David J. Kappos, Kathryn-Ann Stamm, Matthew Morreale, Annmarie M. Terraciano, Joyce Law, Brian M. Budnick, Lauren Piechocki and Liza C. Clark of Cravath, Swaine & Moore LLP acted as legal advisors for Martin Marietta Materials.
Martin Marietta Materials, Inc. (NYSE:MLM) completed the acquisition of 20 Active Aggregates Operations in Alabama, South Carolina, South Florida, Tennessee, and Virginia from Blue Water Industries LLC on April 5, 2024.
Martin Marietta Materials, Inc. is America's 2nd largest producer of granulates and construction materials. Net sales break down by family of products as follows:
- granulates and construction materials (94.5%): granulates (58.7% of net sales), ready mixed concretes (21.9%), road surfacing materials and asphalts (9.9%) and cement (9.5%);
- magnesium-based chemical products (5.5%): intended for industrial, agricultural and environmental applications. The group also proposes dolomitic chalks for the steel industry.
The United States accounts for 98.6% of net sales.
Martin Marietta Materials, Inc. completed the acquisition of 20 Active Aggregates Operations in Alabama, South Carolina, South Florida, Tennessee, and Virginia from Blue Water Industries LLC.
MARTIN MARIETTA MATERIALS, INC. 
