LHOIST NORTH AMERICA acquired by MARTIN MARIETTA STCC

The Berghmans family, which owns Belgium's Lhoist group, will not exit outright: on closing it is expected to hold about 15 percent of Martin Marietta on a fully diluted basis, with the right to appoint one director and one observer to the board. Martin Marietta agreed on 30 June 2026 to buy Lhoist North America, the Belgian group's US subsidiary, in a cash-and-stock deal. The consideration comprises cash and Martin Marietta stock, and completion is expected in the second half of 2026, subject to regulatory approvals. For Martin Marietta, the purchase adds more than 2 billion tonnes of limestone reserves across 20 quarries and production facilities and 45 distribution terminals, and is intended to expand its Specialties segment in lime and other industrial minerals. Ward Nye, chair, president and chief executive of Martin Marietta, said the transaction advances the company's SOAR 2030 objective to grow that segment. Lhoist North America reported revenue of and adjusted EBITDA of for the 12 months ended 31 December 2025. Martin Marietta expects its combined net leverage ratio to be about 3.7x at closing and targets reducing it below 2.5x within 24 months, helped by annual run-rate cost savings it puts at around $85m. Baron Berghmans, chairman of Lhoist Group, said the family had found a partner to carry on the business it built over more than a century. Bredin Prat is advising Martin Marietta alongside Cravath, Swaine & Moore, with the French firm's team led by Olivier Assant and Kate Romain on corporate matters, Anne Robert on tax, Juliette Crouzet on digital law and intellectual property, and Laetitia Tombarello on employment.