Trilantic said Tuesday that it has sold its majority stake in VantaCore Partners. The divestment is part of Natural Resource Partners‘ acquisition of VantaCore for $205 million. Based in Philadelphia, VantaCore is an acquisition platform focused on core minerals.
NEW YORK, Aug. 19, 2014 /PRNewswire/ — Trilantic Capital Partners (“Trilantic”), a global private equity firm, today announced the sale of its majority stake in VantaCore Partners LP (“VantaCore” or the “Company”), as part of Natural Resource Partners L.P.’s acquisition of the Company. NRP has entered into a definitive agreement to acquire VantaCore for $205 million, subject to customary purchase price adjustments.
Trilantic purchased a majority interest in VantaCore in April 2010 and committed significant additional capital in order to fund future growth. Since its founding in 2006, VantaCore has grown through a series of complementary acquisitions and is now estimated to be one of the top 25 aggregates producers in the United States.
“Together with Trilantic and our other investors, we have executed on our strategic growth plans through acquisitions and expansion into the high-growth Marcellus and Utica shale end markets,” said Colin Oerton, Chief Executive Officer of VantaCore. “We are thrilled to become part of the NRP team, and look forward to utilizing NRP’s capital and industry knowledge to continue to grow our business.”
“We would like to thank Colin, Perry Donahoo and the rest of the team at VantaCore for their hard work and dedication throughout the life of our investment,” said Chris Manning, Partner at Trilantic. “We wish the team continued success as they embark on their new partnership with NRP.”
The sale of VantaCore follows Trilantic North America’s recent energy investments in Ward Energy Partners and Fluid Delivery Solutions, as well as two recent exits in the firm’s energy portfolio: the sale of Enduring Resources’ Permian Basin assets and the IPO and secondary share sale of Antero Resources Corporation. Trilantic has now committed in excess of $2.5 billion to the energy sector.
About Trilantic Capital Partners
Trilantic is a private equity firm focused on control and significant minority investments in North America and Europe, with a primary investment focus in North America in the business services, consumer, energy and financial services sectors. As of June 30, 2014, Trilantic manages five institutional private equity funds with aggregate capital commitments of $6.2 billion. For more information, visit www.trilantic.com.
About VantaCore Partners
Headquartered in Philadelphia, Pennsylvania, VantaCore operates three hard rock quarries, six sand and gravel plants, two asphalt plants and a marine terminal. Current operations are located in West Virginia, Pennsylvania, Tennessee, Kentucky and Louisiana. For more information about VantaCore, visit www.vantacore.com.