– Martin Marietta has signed a definitive agreement to acquire New Frontier Materials, a platform investment created by Declaration Partners in 2021 – New Frontier Materials was formed through a carve-out of aggregates and asphalt assets from Fred Weber, Inc. – Declaration Partners developed the platform over five years, focusing on operational and strategic growth – A new leadership team was built under CEO Mike Clarke, formerly of Vulcan Materials Company – The board included experienced executives from Vulcan Materials, Martin Marietta, and Aggregates USA – Capital investment was directed toward safety improvements, efficiency gains, and modernization of operations – The company expanded into export markets and adjacent product segments during the investment period – Mike Clarke described the evolution of the business into a cohesive platform with a strong team culture focused on customers – Charles Rayner noted that operational improvements and disciplined investment helped position the company for its next phase – The transaction represents the exit of Declaration Partners after a five-year value creation cycle
CHAMP Launch by L Catterton and Patricof Co (P/Co): Athlete Ownership Model for Consumer Brand Growth
– New Frontier Materials was formed through a carve-out of aggregates and asphalt assets from Fred Weber, Inc.
– Declaration Partners developed the platform over five years, focusing on operational and strategic growth
– A new leadership team was built under CEO Mike Clarke, formerly of Vulcan Materials Company
– The board included experienced executives from Vulcan Materials, Martin Marietta, and Aggregates USA
– Capital investment was directed toward safety improvements, efficiency gains, and modernization of operations
– The company expanded into export markets and adjacent product segments during the investment period
– Mike Clarke described the evolution of the business into a cohesive platform with a strong team culture focused on customers
– Charles Rayner noted that operational improvements and disciplined investment helped position the company for its next phase
– The transaction represents the exit of Declaration Partners after a five-year value creation cycle