Martin Marietta Materials agreed on 29 June to combine with Lhoist North America, the US arm of Belgium's Lhoist Group, in a $13.5bn cash-and-share transaction.
Why Martin Marietta Materials, Inc. is buying Lhoist North America, Inc.
Martin Marietta said the deal advances its SOAR 2030 plan to expand its Specialties segment and makes it the leading national producer of lime, supplying steel, infrastructure, environmental and industrial markets. LNA's reserves are concentrated in Sun Belt corridors that overlap with Martin Marietta's growth markets.
Deal terms and financing
Consideration comprises $7.0bn in cash and $6.5bn of Martin Marietta stock priced on a 15-day average. Goldman Sachs provided committed debt financing, and Martin Marietta expected combined net leverage of about 3.7x at closing, falling below 2.5x within 24 months.
Regulatory approvals and timing
Completion required regulatory approvals. Martin Marietta announced on 24 August that the combination had closed on 21 August 2026.
Market context
Lhoist keeps its businesses in Europe, Latin America, Asia-Pacific and the Middle East. The deal came a week after CRH agreed to buy Arcosa, part of a wider consolidation among North American heavy building materials groups, Global Cement noted.
