Wynnchurch Capital acquires Indiana Limestone and appoints Tom Quigley as CEO
With a history dating back to the mid-1800's, Indiana Limestone is headquartered in Oolitic, IN, in the heart of the Indiana limestone belt, the source of the highest quality quarried limestone in the U.S. Indiana limestone is known as the "nation's building stone" and was used in many famous structures, including the Empire State Building and the Pentagon. The company's products are employed today as a durable and energy-efficient building stone in institutional, commercial and residential structures across the country.
"Our investment in Indiana Limestone allows Wynnchurch to further expand into the building products industry," said Wynnchurch Partner Terry Theodore. "Indiana Limestone in known for its superior quality stone. We anticipate developing and executing more aggressive and comprehensive sales and marketing strategies to better communicate its superiority to the marketplace. To that end, we are pleased that Tom Quigley has joined the company as Chief Executive Officer. Tom has held senior leadership positions at Owens Corning and Ingersoll Rand, and we believe his experience in the building products industry will set a course for rapid growth."
"We believe the company's superior products and established customer base leave Indiana Limestone well-positioned for future growth as construction markets recover," said Wynnchurch Managing Partner John Hatherly.
"We are pleased with the support Wynnchurch provided as our DIP lender throughout the bankruptcy process," said Indiana Limestone Chief Executive Officer Tom Quigley. "Indiana Limestone will be able to leverage the expertise, resources and capital that Wynnchurch provides to deliver our products to the marketplace and drive growth."