Harrison Gypsum, a portfolio company of H.I.G. Capital, has acquired J.A. Jack & Sons. This is the fourth add-on acquisition that Harrison Gypsum has made since H.I.G. acquired the company in December 2012.
J.A. Jack is a miner and processor of limestone products that are used in building products, glass, plaster, agriculture, animal nutrition, and coatings applications. The company owns and operates a quarry on Texada Island in British Columbia and ships rock to a processing facility in Seattle where the company is headquartered (www.jajack.com).
Harrison Gypsum is a producer and processor of minerals and aggregates including gypsum, limestone, sand, gravel and downstream food, pharmaceutical and plaster products. The company has 19 locations in Oklahoma, Texas, Washington and Canada and serves a range of end markets including building products, energy, industrials, infrastructure, agriculture, food and pharmaceuticals. Harrison Gypsum was founded in 1955 and is headquartered in Norman, OK (www.harrisongypsum.com).
“We are pleased to support Harrison Gypsum in its acquisition of J.A. Jack,” said Keval Patel, a Managing Director of H.I.G. Capital. “The investment further establishes Harrison Gypsum as a national, pure-play minerals provider and continues our strategy to expand Harrison Gypsum’s geographic reach and end market diversification. The Western US remains a key expansion area for us and J.A. Jack will help us accelerate our growth in this region.”
H.I.G. Capital specializes in providing capital to small and medium-sized companies and invests in management-led buyouts and recapitalizations of manufacturing or service businesses. H.I.G. Capital has more than $17 billion of capital under management. The firm was founded in 1993 and is based in Miami with additional offices in Atlanta, Boston, Chicago, Dallas, New York, San Francisco, London, Hamburg, Madrid, Milan, Paris, and Rio de Janeiro (www.higcapital.com).
“We are excited about the strategic expansion of our operations into the Pacific Northwest,” said Paul Harrington, CEO of Harrison Gypsum. “J.A. Jack not only allows us to grow outside our core markets of Oklahoma and Texas, but also broadens our customer footprint and product portfolio within mineral processing. The company has had a long and successful history under the Jack family dating back to the 1940’s, and we will be sure to serve as great stewards of the business going forward.”
© 2015 PEPD • Private Equity’s Leading News Magazine • 3-5-15
