InterOcean Advisors is pleased to announce the successful merger of Maryland Materials, Inc. and its affiliates (collectively, “MMI”) with entities controlled by Bluegrass Materials Company, LLC, an aggregates producer with headquarters in Jacksonville, Florida and operations in the Southeast and Mid-Atlantic regions of the United States. InterOcean acted as the exclusive financial advisor to MMI.

“I am excited about the combination of these two excellent aggregates companies. With their significant resources and market presence, Bluegrass will help MMI fulfill its tremendous potential for years to come.”
Jean Petrillo Waddill, President of Maryland Materials, Inc.

Maryland Materials was founded in 1959 and is one of the largest independent aggregates quarries in the United States. Located in North East, Maryland, MMI produces a complete line of crushed stone products from granite and trap rock reserves that are used for construction site development, highway construction projects and the production of hot mix asphalt and concrete.

“Maryland Materials offers an attractive combination of significant, high-quality aggregate reserves and multiple distribution options—including rail, truck and barge,” commented Nick Newlin, a Managing Director at InterOcean. “In light of recent expansion by Bluegrass into the Maryland market, MMI’s coverage of the Northern Maryland and Delaware markets is a perfect complement to, and natural extension of, the Bluegrass footprint.”