Vulcan Materials Company acquires Aggregates USA, LLC

Vulcan Materials Company acquired Aggregates USA, LLC for $900 million in cash (approximately $287.3 million of assets were immediately divested at closing; net material acquisition consideration in 2017 was $793.5 million), a transaction announced in May 2017, structured as all cash. The deal was a Asset purchase (membership interest purchase).

Aggregates USA, LLC operates in Aggregates. Vulcan Construction Materials, LLC agreed to acquire the aggregates business of SPO Partners, Aggregates USA LLC, which operated 31 facilities serving high-growth markets in Georgia, Florida, Tennessee, South Carolina and Virginia. The portfolio included three granite quarries in Georgia (two with rail capabilities), 16 rail distribution yards across Georgia, South Carolina and Florida, and 12 limestone quarries in eastern Tennessee and southwest Virginia. Vulcan indicated it might divest several Tennessee quarries to expedite regulatory approval; the deal closed during 2017.

These strategic assets enhance our ability to serve high growth markets throughout the southeastern U.S. ... Vulcan will be able to capitalize on continuing increases in state highway funding programs in Georgia, Florida, South Carolina, Tennessee, and Virginia, and on the continued private sector growth across the region.

We are pleased to have reached agreement with SPO Partners for these strategic assets, which enhance our ability to serve high growth markets throughout the southeastern U.S. With the addition of these quarries and related assets, Vulcan will be able to capitalize on continuing increases in state highway funding programs in Georgia, Florida, South Carolina, Tennessee, and Virginia, and on the continued private sector growth across the region.Tom Hill, Chairman and Chief Executive Officer, Vulcan Materials Company

Advisory firms were not disclosed for this transaction.

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