Natural Resource Partners To Buy Privately-held VantaCore Partners For $205 Mln

(RTTNews) - Natural Resource Partners L.P. (NRP) has agreed to acquire VantaCore Partners LP, a privately-held limited partnership specializing in the construction materials industry, for $205 million. The transaction, which may close in the fourth quarter, is expected to be immediately accretive to both earnings and cash flow.

VantaCore would be operated as a subsidiary of NRP, and would continue to be managed by VantaCore's Chief Executive, Colin Oerton, and VantaCore's Chief Operating Officer, Perry Donahoo. NRP anticipates that VantaCore would generate some $25 million in EBITDA over the next year.

Headquartered in Philadelphia, Pennsylvania, VantaCore operates 3 hard rock quarries, six sand and gravel plants, two asphalt plants and a marine terminal. It currently operates in Pennsylvania, West Virginia, Tennessee, Kentucky and Louisiana. VantaCore is presently owned by a consortium of institutional investors, including Trilantic Capital Partners as majority owner, Kayne Anderson Energy Development Company, Hartz Alternative Investments, LLC and Corridor Private Holdings, Inc., and by members of its management team.