JACKSONVILLE, Fla, April 08, 2024 (GLOBE NEWSWIRE) -- Blue Water Industries announced today it completed the sale of 20 active aggregates operations in Alabama, South Carolina, South Florida, Tennessee, and Virginia to Martin Marietta Materials, Inc. (NYSE: NYSE:MLM) for $2.05 billion in cash on April 5, 2024.
Blue Water Industries is a privately-held, pure-play construction aggregates producer in the United States, serving some of the fastest growing regions of the Southeast United States.
Ted Baker (LON:TED), CEO of Blue Water Industries, stated, "We are pleased to entrust these operations to Martin Marietta, an industry leader with strong values and a distinguished safety record. I would like to thank our company's dedicated employees, along with our partners at Blue Water Advisors for their investment and meaningful support over the years."
Blue Water Industries and its affiliates will continue to operate its aggregates operations in North Carolina and central Florida, as well as its marine terminal business.
Wachtell, Lipton, Rosen & Katz served as legal advisor to Blue Water Industries. The Greystone Group served as financial advisor to Blue Water Industries.
About Blue Water Industries
Blue Water Industries and its affiliates were formed in 2017 as a partnership among John D. Baker II, Ted Baker II, and an investment fund managed by Blue Water Advisors to acquire, develop, and operate a portfolio of high-quality construction aggregates assets in the United States.
About Blue Water Advisors LP
Blue Water Advisors is a private equity firm focused on investing in high quality businesses in real assets and essential industries in partnership with industry-leading families, founders, and operators. For more information about Blue Water Advisors, please visit www.bwalp.com.
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Annie Chen
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