Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 31 n° 301

H.I.G. Capital Announces the Sale of ACG Materials

Posted by fidest press agency su lunedì, 10 dicembre 2018

H.I.G. Capital (“H.I.G.”), a leading global private equity investment firm with $30 billion of equity capital under management, is pleased to announce the sale of its portfolio company, ACG Materials (“ACG” or the “Company”) for approximately $315 million, to Arcosa, Inc. (NYSE: ACA) (“Arcosa”), a manufacturer of infrastructure-related products and services.
ACG Materials, based in Norman, Oklahoma, mines, processes, and distributes industrial minerals and aggregates including gypsum, anhydrite, limestone, sand, gravel, basalt and downstream food, pharmaceutical, prill and plaster products across a diverse set of end markets including building products, energy, infrastructure, and agriculture.H.I.G. recapitalized the Company in December 2012, and through the completion of nine acquisitions and the development of six greenfield mines, subsequently grew ACG from five mines and two production facilities in Oklahoma into a highly diversified operator of 24 mines and 5 production facilities across 9 states and provinces. During H.I.G.’s ownership, the Company also made significant investments in management, IT infrastructure, sales & marketing, manufacturing capabilities, and capacity.Paul Harrington, ACG’s CEO, said, “H.I.G. has been a great partner, as they have been very supportive helping to transform ACG into a professionally managed, diversified, national platform with exciting growth potential. We are excited to continue this next chapter with Arcosa, whose platform and resources will help us realize the considerable opportunities ahead.”Keval Patel, Managing Director at H.I.G. Capital, commented, “It has been a pleasure working with Paul and the ACG management team. Their strategic vision and consistent execution has resulted in an outstanding investment outcome for management and shareholders, including the Company’s founder Russ Harrison. We are confident that ACG will continue to build on its record of success and impressive growth under the Arcosa umbrella.”

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