H.I.G. Capital News
Executive Managing Director
1450 Brickell Avenue
Miami, FL 33131
Harrison Gypsum Announces Acquisition of The Gravel Company
Acquisition supports Harrison Gypsum’s national expansion
MIAMI – October 15, 2014 – H.I.G. Capital ("H.I.G."), a leading global private equity investment firm with more than $17 billion of equity capital under management,* announced today that its portfolio company, Harrison Gypsum (“HG” 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 The Gravel Company, LLC (“TGC” or the “Company”). The Company will do business as ACG Materials.
TGC is a market leader in the region, operating out of seven locations, producing high quality aggregate material, including sand and gravel, limestone, and caliche, used to build and maintain roads and well pads in the oil-rich Eagle Ford Shale region.
“We are very excited about the expansion of our operations in the Eagle Ford region. The acquisition gives us 13 locations in Eagle Ford, which is the largest footprint in the region,” commented Russ Harrison, Chief Executive Officer of Harrison Gypsum. “We are excited about the benefits it will bring to our customers allowing them to receive high quality products, excellent customer service and reliable delivery from a single supplier.”
"We are pleased to support Harrison Gypsum in its acquisition of The Gravel Company," commented Keval Patel, a Managing Director of H.I.G. Capital. “The investment continues our strategy to expand Harrison Gypsum’s geographic reach, minerals processed and the end markets we serve. The Eagle Ford Shale region is one of the fastest growing regions in the United States and poised for sustained success.”
About The Gravel Company, LLC
The Gravel Company, LLC, provides aggregate materials, including sand and gravel, limestone, and caliche, to the construction industry across various oil & gas basins throughout South Texas.
About Harrison Gypsum, LLC
Harrison Gypsum, LLC, 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 in the Southwest United States. The Company operates out of 20 locations in Oklahoma and Texas and serves a diverse set of end markets including building products, energy, industrials, infrastructure, agriculture, food and pharmaceuticals. Through the Company’s 59 year history, Harrison Gypsum has established itself as a highly regarded supplier of gypsum and plaster products in the United States. For more information, call 1-800-624-5963, or visit www.harrisongypsum.com.
About H.I.G. Capital
H.I.G. Capital is a leading global private equity investment firm with more than $17 billion of equity capital under management.* Based in Miami, and with offices in Atlanta, Boston, Chicago, Dallas, New York, and San Francisco 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 capital to small and medium-sized companies with attractive growth potential. H.I.G. invests in management-led buyouts and recapitalizations of profitable and well managed manufacturing or service businesses. H.I.G. also has extensive experience with financial restructurings and operational turnarounds. 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.