US Minerals, a portfolio company of Merit Capital Partners, has acquired ATI Black Diamond Granules.
Black Diamond is a recycler and processor of roofing shingle granules and sandblasting abrasives. The primary ingredient of the company’s products is coal slag, which is a nonhazardous recycled byproduct of coal burning power plants that hardens and crystallizes when cooled. The company’s primary customer base includes shingle manufacturers, fabrication and painting companies, and commercial construction contractors. Black Diamond’s geographic reach includes markets in Minnesota, Southern Canada, Iowa, Wisconsin, Indiana, North and South Dakota, Kansas, Illinois, and Missouri. The company was founded in 1979 and is based in Woodbury, MN (www.ati-blackdiamond.com).
US Minerals is a recycler and processor of coal slag. The company processes coal slag from the bottom of power-plant boilers into two beneficial re-use products: roofing granules and surface-blasting abrasives. Roofing customers utilize coal slag to produce asphalt shingles. Abrasives customers, including industrial, petrochemical, oil, shipping, and railroad companies, use coal slag to remove particles, like rust and paint, from metal and wood surfaces. The company is headquartered in Dyer, IN (www.us-minerals.com).
D.A. Davidson & Co. (www.davidsoncompanies.com) served as the sole financial advisor to Black Diamond on the transaction. “I am very pleased with the outcome of the process and the invaluable services the D.A. Davidson team provided,” said Mr. Haslerud, President of Black Diamond. “D.A. Davidson’s technical expertise, negotiating savvy, professionalism, and responsiveness were extremely helpful in closing this very complex transaction. I highly recommend the D.A. Davidson team to anyone needing M&A advisory services in the future.”
Merit Capital Partners invests mezzanine and equity capital of $20 million to $60 million in companies with at least $5 million of EBITDA that are active in the manufacturing, distribution and services industries. The firm was founded in 1993 and is based in Chicago (www.meritcapital.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 1-10-13
