Québec City, QC - Birch Hill Equity Partners and Investissement Québec announced today that they have acquired Polycor Inc. in partnership with the company’s management from TorQuest Partners and its co-investors, Wynnchurch Capital, and PNC Mezzanine Capital. Polycor is the largest quarrier of natural stone in the world. The transaction, which closed on April 29, 2022, will support the continued growth of Polycor in Québec and across its global operations.
“Partnering with Birch Hill and Investissement Québec is an exciting moment for our employees, customers and partners,” said Patrick Perus, CEO of Polycor Inc. “Both Birch Hill and Investissement Québec are firmly committed to supporting Polycor’s continued growth and success here in Québec and across the markets we serve. They share our commitment to prioritizing and fostering sustainability, innovation, and environmental stewardship.”
“We would like to thank TorQuest, Wynnchurch and PNC Mezzanine for our strong partnership over the last several years and their many contributions to our growth and evolution as a company,” added Perus.
Polycor is the first natural stone quarrier to make a firm commitment to carbon neutrality, and among the first in the manufacturing industry to take a leadership role on the essential work of decarbonization. Polycor has a history of embracing environmental challenges, from its use of closed- system rainwater to owning 30% of all “Natural Stone Sustainability Standard” certified sites. While natural stone is already inherently sustainable and a zero-VOC material, Polycor remains committed to flattening the curve on carbon emissions.
The transaction will honour Polycor’s heritage and presence in Québec, where the global head office will remain.
Financial terms of the transaction are not being disclosed.