JUPITER, Fla., October 12, 2017 – Inlet Capital Group today announced the sale of the asphalt assets of Magnum Group Holdings, LLC, to Ranger Construction Industries, Inc. Inlet Capital Group served as the exclusive financial advisor to Magnum on the transaction, which closed on September 26, 2017.
Headquartered in Ocala, Fla., Magnum is a privately held provider of construction aggregates, ready mixed concrete, concrete block, hot mix asphalt and site construction services in north, central, and southwest Florida. The sale represents the completion of Magnum’s efforts to exit its non-core asphalt and construction businesses, enabling the company to fully focus on its core materials businesses.
Ranger Construction is one of Florida’s leading heavy/highway contractors, providing high-quality road construction services since the 1940s. Headquartered in West Palm Beach, Ranger Construction operates throughout the state as a contractor, subcontractor and design-build partner. Ranger also operates a network of quality controlled, environmentally friendly, FDOT-certified asphalt production facilities, serving central and southeast Florida.
Inlet Capital provides strategy consulting and transaction advisory services exclusively to the construction materials and mining industries. Founded and managed by industry insiders, the firm offers in-depth insight, practical solutions and efficient execution to its clients throughout the United States.