Natural Resource Partners (NRP) will sell its construction aggregates business segment, VantaCore Partners, to an affiliate of Sun Capital Partners. The deal costs $205 million before transaction expenses and customary purchase price adjustments.
Craig Nunez, president and chief operating officer of NRP, says: “The sale of our construction aggregates business segment will enable NRP to substantially accelerate the de-levering and de-risking of our capital structure and represents an exit from this business.”
Credit Suisse Securities (USA) is acting as financial advisor to NRP. Vinson & Elkins is acting as legal advisor to NRP.
The deal is expected to be complete by the end of 2018 and is subject to customary conditions, including clearance under the Hart-Scott-Rodino Antitrust Improvements Act.