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Martin Marietta acquires Tiller Corp.

By |  May 4, 2021

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Martin Marietta acquired Minnesota-based Tiller Corp., which will be integrated into the company’s Central Division.

Martin Marietta expects the acquisition to broaden its geographic reach and create a leading aggregate position for the company in the Minneapolis/St. Paul region.

“Tiller is the leading aggregates and FOB hot-mix asphalt supplier in the Minneapolis/St. Paul region, notably enhancing Martin Marietta’s high-margin, upstream materials business in one of the largest and fastest growing Midwestern metropolitan areas,” says Ward Nye, chairman and CEO of Martin Marietta. “We expect this SOAR (Strategic Operating Analysis & Review)-aligned acquisition to be immediately accretive to earnings and cash flow, and contribute $170 million of product revenues and $60 million of adjusted EBITDA (earnings before interest, tax, depreciation and amortization) for the remaining eight months of 2021.”

Kevin Yanik

About the Author:

Kevin Yanik is the editor-in-chief of Pit & Quarry magazine. Yanik can be reached at 216-706-3724 or kyanik@northcoastmedia.net.

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