H.I.G. Capital News
Executive Managing Director
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ACG Materials Announces Acquisition of Art Wilson Company
Acquisition supports ACG Materials’ national expansion
MIAMI – August 6, 2015 – H.I.G. Capital ("H.I.G."), a leading global private equity investment firm with $19 billion of equity capital under management, announced today that its portfolio company, ACG Materials (“ACG” or the “Company”), a leading, vertically integrated producer and processor of high-quality minerals and aggregates including gypsum, limestone, sand, gravel and downstream food, pharmaceutical and plaster products, has acquired Art Wilson Company (“AWC”).
AWC mines, processes, and markets anhydrite, gypsum and limestone products used in agricultural, industrial, and commercial applications across Nevada, California, Washington, Oregon, and Idaho. The Company owns and operates a quarry and downstream production facility in Carson City, Nevada with additional owned reserves under development nearby.
“We are excited about the continued expansion of our operations into the Western U.S.,” commented Paul Harrington, Chief Executive Officer of ACG Materials. “Art Wilson Company not only allows us to acquire the market leading supplier of agricultural gypsum serving California’s Central Valley and surrounding areas, but also broadens our customer footprint, product portfolio, and end market diversification. AWC has had a long and successful history since its founding by Art Wilson in the 1950’s, and we look forward to serving as great stewards of the business going forward.”
"We are pleased to support ACG Materials in its acquisition of Art Wilson Company," commented Keval Patel, a Managing Director of H.I.G. Capital. “The acquisition further bolsters ACG’s business on the West Coast and also aligns with our strategy of diversifying ACG’s geographic reach and end market exposure into value-added downstream processed minerals. We expect the use of anhydrite and gypsum to continue to grow as farmers look to capitalize on the excellent crop enhancing and moisture retention attributes of these products.”
ACG was founded in 1955 and operated under the name Harrison Gypsum until May 2015. AWC is the fifth add-on acquisition that ACG has completed since H.I.G. acquired ACG at the end of 2012 and marks the second acquisition this year. In February 2015, ACG acquired JA Jack & Sons, a Seattle, WA based miner and processor of limestone products.
About Art Wilson Company
Art Wilson Company mines, processes, and markets anhydrite, gypsum and limestone products used in agricultural, industrial, and commercial applications across Nevada, California, Washington, Oregon, and Idaho.
About ACG Materials
ACG Materials, based in Norman, Oklahoma, mines, mills, processes, and distributes minerals and aggregates including gypsum, anhydrite, limestone, sand, gravel and downstream food, pharmaceutical and plaster products across a diverse set of end markets including building products, energy, industrials, infrastructure, agriculture, food and pharmaceuticals. The Company operates out of 20 locations throughout Oklahoma, Texas, Kansas, Nevada, Washington, and British Columbia. ACG Materials was founded as Harrison Gypsum, LLC in 1955. For more information, call 1-800-624-5963, or visit www.acgmaterials.com.
About H.I.G. Capital
H.I.G. is a leading global private equity and alternative assets investment firm with $19 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris and Rio de Janeiro, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/ value-added approach. Since its founding in 1993, H.I.G. has invested in and managed more than 200 companies worldwide. The firm's current portfolio includes more than 80 companies with combined sales in excess of $30 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.
* Based on total capital commitments to funds managed by H.I.G. Capital and its affiliates.