This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
See Cramer's multi-million dollar portfolio for FREE and get his new book Get Rich Carefully! Learn More

VantaCore Partners Announces Acquisition Of Laurel Aggregates

PHILADELPHIA, June 11, 2012 /PRNewswire/ -- VantaCore Partners LP ("VantaCore" or the "Partnership") today announced the acquisition of Laurel Aggregates LLC ("Laurel"). Laurel is a leading regional producer of limestone aggregate products serving the energy and construction industries in southwestern Pennsylvania, northern West Virginia, and eastern Ohio. The company operates one large limestone quarry in Lake Lynn, Pennsylvania (65 miles south of Pittsburgh) and also sources stone from third party quarries. Laurel's quarry location has both a surface and underground mine operation, with an estimated 197 million tons of reserves. Barry Fink, who joined Laurel and has led its growth since 2007, will join VantaCore as Laurel's Vice President and General Manager.  Under Barry's leadership, Laurel developed strong relationships with multiple energy companies working in the Marcellus and Utica Shale regions.

"The acquisition of Laurel continues VantaCore's strategy of acquiring well-managed operations with a strong group of assets, located in areas of significant growth," said Colin Oerton, Chief Executive Officer of VantaCore. "This represents VantaCore's seventh acquisition since its 2006 formation, and more than doubles the size of our company in terms of volume. This acquisition expands both our geographic and operational footprint into the Marcellus and Utica regions, areas that are actively being explored and developed by major energy companies and a region identified as important to this country's future growth in the natural gas sector. We are also particularly excited to have Barry and his strong group of employees joining the VantaCore team." Barry Fink commented, "As part of VantaCore, Laurel will be able to continue its outstanding service to its customers and will be able to participate in a number of exciting growth opportunities."

Equity financing was provided by Trilantic Capital Partners and Kayne Anderson Energy Development Company (NYSE: KED). Debt financing was provided by PNC Bank, N.A., a member of The PNC Financial Services Group, Inc. (NYSE: PNC), which also expanded its existing Credit Facility with the Partnership.  VantaCore will continue to finance its growth program with funds available from both its equity sponsors and PNC.

Stock quotes in this article: KED, PNC, TTO 

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
DOW 16,408.54 -16.31 -0.10%
S&P 500 1,864.85 +2.54 0.14%
NASDAQ 4,095.5160 +9.2910 0.23%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs