Blue Water Industries to sell certain aggregates operations to Martin Marietta

Blue Water Industries has entered into a definitive agreement with Martin Marietta Materials, under which Martin Marietta will acquire 20 active aggregates operations in Alabama, South Carolina, South Florida, Tennessee, and Virginia from Blue Water Industries’ affiliate for $2.05B in cash. Blue Water Industries is a privately-held, pure-play construction aggregates producer in the United States. Its footprint spans seven states, including Florida, Tennessee, North Carolina, South Carolina, Alabama, Mississippi, and Virginia, and serves some of the fastest growing regions of the Southeast United States. The BWI Southeast transaction is expected to close later this year, subject to regulatory approvals and other customary closing conditions. Blue Water Industries will continue to operate its aggregates operations in North Carolina and central Florida, as well as its marine terminal business. Wachtell, Lipton, Rosen & Katz is serving as legal advisor to Blue Water Industries. The Greystone Group is serving as financial advisor to Blue Water Industries.