Martin Marietta Complete BWI Southeast Transaction

SOURCE: Martin Marietta | April 29, 2024

MARTIN Marietta Materials Inc. have completed their previously announced acquisition of 20 active aggregates operations in Alabama, South Carolina, South Florida, Tennessee, and Virginia from affiliates of Blue Water Industries LLC (BWI Southeast) for $2.05 billion in cash.

This portfolio-optimizing transaction improves the company’s product mix, margin profile, and durability through economic cycles by adding another pure aggregates business to its already aggregates-led portfolio.

Ward Nye, chairman, president and chief executive officer of Martin Marietta, said: ‘The BWI Southeast acquisition naturally complements Martin Marietta’s existing geographic footprint in the dynamic southeast region by allowing us to expand into new growth platforms in SOAR (Strategic Operating Analysis and Review)-specific target markets including Nashville and Miami.

‘Combined with the recent acquisition of Albert Frei & Sons Inc. in Colorado, these two pure-play aggregates transactions provide approximately 1 billion tons of proven, high-quality reserves and are expected to generate more than US$180 million of annualized EBITDA.’

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