Stone World

GranQuartz acquires the stone division of Sommer & Maca from C.R. Laurence

July 30, 2008

ST. LOUIS, MO -- GranQuartz, L.P., a Harbour Group company based in Atlanta, GA, completed the acquisition of the stone division of Sommer & Maca Industries, Inc. from C.R. Laurence Co., Jeff Fox, Harbour Group's Chief Executive Officer, announced. Terms of the transaction were not disclosed.

C.R. Laurence acquired the division through its acquisition of Sommer & Maca Industries, Inc. (Somaca) in March 2008. Somaca, founded in 1920 and based in Chicago, IL, is a value-added distributor of a wide range of tools, equipment and accessories to the glass and stone fabrication market in both the U.S. and Canada. Several years ago, Somaca started a division, Somaca Stone, to service the needs of natural and engineered stone fabricators and tile professionals. Shortly after it acquired Somaca, C.R. Laurence completed a strategic review of its business and elected to focus on its core glass fabrication market.

"C.R. Laurence has a great business and is clearly the leader in its industry," said Fox. "Similarly, GranQuartz and the other businesses in our tool distribution group, including Pearlman/Keystone Tools, Stone Tool Supply and Dimensional Tools, are the leading distributors of tools, supplies and equipment for the stone fabrication and tile industries. We are looking forward to providing Somaca's customers with a broader product line and industry-leading customer service, including multiple ordering and delivery methods. Harbour Group has demonstrated its dedication to this industry, and we will continue to aggressively grow our businesses through both internal investment and acquisitions of other leading complementary businesses."

Don Friese, Chairman & CEO of C.R. Laurence, stated, "We'd known Somaca for decades and thought very highly of their team, and in particular, their entrepreneurial spirit, as evidenced by the stone business they started from scratch a few years ago. While Sommer & Maca had begun to build a very strong presence in the stone and tile industry, what we really want to do is focus our attention on serving our core glass fabrication customer better than anybody else in the world. At the same time, we wanted to make sure the customers who had supported the growth of the Somaca Stone division would be serviced by the best possible supplier in the world to that market. We believe GranQuartz is that supplier, and we fully expect them to take care of our stone customers every bit as well as we would have. We know they will be reaching out personally to each of the customers, and we strongly encourage each of our stone and tile customers and suppliers to think of GranQuartz as their go-to source for all their tool and supply needs."