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Martin Marietta completed the acquisition of Tiller.

Synopsis

Martin Marietta, a building material company, completed the acquisition of Tiller, a provider of hot mix asphalt. Financial terms were not disclosed. "We are equally excited to announce the strategic, value-enhancing acquisition of Tiller. 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. We expect this SOAR-aligned acquisition to be immediately accretive to earnings and cash flow, and contribute $170m of product revenues and $60m of Adjusted EBITDA for the remaining eight months of 2021," Ward Nye, Martin Marietta Chairman and CEO.

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