Indiana Limestone Co. acquisition completed by Resilience Capital Partners
November 16, 2010
BEDFORD, IN -- Resilience Capital Partners, a leading
private equity firm, announced the acquisition of Indiana Limestone Co. This
transaction is the second acquisition under Resilience's industrial minerals
platform, North Coast Minerals. Indiana Limestone is a complimentary business
to Victor Oolitic Stone Co., which was acquired by Resilience in November 2009.
Like Victor Oolitic, Indiana Limestone has been a leading supplier of Indiana
limestone to the dimensional stone market place for over 100 years. Its products
and services are well-known in the industry for having consistent color, grain
structure/size, texture, finish, and fabrication capabilities.
"We are excited about this acquisition and both the
near- and long-term opportunities it generates when combined with Victor
Oolitic. Furthermore, the acquisition of Indiana Limestone is consistent with
North Coast Minerals' strategy of seeking niche industrial minerals companies
with a unique reserve capable of supplying a variety of specialty end markets
including energy, environmental, building materials, agricultural and
industrial," said Michael Lundin, Chairman, North Coast Minerals and
Operating Partner, Resilience Capital Partners.
"This transaction brings together two leading players
in the market place. We look forward to continuing the heritage of these
businesses and exploring further growth opportunities in the niche industrial
minerals segment," added Bassem Mansour, Co-CEO, Resilience Capital
Headquartered in Cleveland, OH, Resilience Capital Partners
is a leading private equity firm with a team of in-house operating experts that
bring large company resources to the lower middle market. Founded in 2001,
Resilience's value oriented investment strategy focuses on acquiring companies
experiencing a variety of special situations within a broad range of industries.
Since its inception Resilience has invested in 16 platform companies
representing over $2 billion in revenue with over 5,000 employees. For more
information, visit www.resiliencecapital.com.
Indiana Limestone Co. is a leading provider of dimension
Indiana Limestone in North America. The company, for more than 100 years,
quarries high quality oolitic limestone for use in institutional, commercial
and residential applications. Indiana Limestone Co. has significant proven
reserves in excess of 100 years supply. The company offers buff, gray and
variegated quarry blocks and slabs to the stone fabrication market. Also. the
company provides full-service design and fabrication services. For more information, visit