Natural Resource Partners to sell aggregate business

Natural Resources Partners (NRP), which owns and manages mineral reserve properties, signed an agreement to sell its construction aggregate business segment, VantaCore Partners, to an affiliate of Sun Capital Partners for $205 million.

“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,” says Craig Nunez, president and COO of NRP.

The closing figure of $205 million is before transaction expenses and customary purchase price adjustments, and the sale is expected to occur by the end of 2018. In addition, the sale is subject to customary closing conditions, including clearance under the Hart-Scott-Rodino Antitrust Improvements Act.