“We believe the company’s superior products and established customer base leave Indiana Limestone well positioned for future growth as construction markets recover,” says Wynnchurch Managing Partner John Hatherly.
Indiana Limestone Company is the largest limestone quarrier and fabricator in North America. The company owns and operates quarries covering over 4,000 acres and has reserves well in excess of 100 years supply in its eight main quarries. The company is the only fully integrated supplier of Indiana Limestone operating in the world. Indiana Limestone is headquartered in Oolitic, IN (www.indianalimestonecompany.com).
“Our investment in Indiana Limestone allows Wynnchurch to further expand into the building products industry. Indiana Limestone in known for its superior quality stone. We anticipate developing and executing more aggressive and comprehensive sales and marketing strategies to better communicate its superiority to the marketplace. To that end, we are pleased that Tom Quigley has joined the company as Chief Executive Officer. Tom has held senior leadership positions at Owens Corning and Ingersoll Rand, and we believe his experience in the building products industry will set a course for rapid growth,” said Wynnchurch Partner Terry Theodore.
Wynnchurch Capital makes investments of $10 million to $90 million in middle-market companies that have revenues of $5 million to $500 million. Sectors of interest include niche manufacturing, transportation & logistics, business services, value-added distribution, energy and power services, general industrials, and metals & mining. Wynnchurch manages a number of private equity funds with capital under management in excess of $1 billion. The firm was founded in 1999 and is located in the Chicago suburb of Rosemont with additional offices in Detroit and Toronto (www.wynnchurch.com).
Investment bank Quarton Partners (www.quartonpartners.com) acted as the exclusive financial advisor to Indiana Limestone in this transaction.
© 2014 PEPD • Private Equity’s Leading News Magazine • 5-14-14