Wynnchurch acquires Indiana Limestone assets

Wynnchurch Capital has acquired the assets of Indiana Limestone Company, a limestone quarrier and fabricator in the United States. Wynnchurch acquired the assets out of bankruptcy.

PRESS RELEASE

Wynnchurch Capital (“Wynnchurch”), a leading middle-market, private equity firm, has acquired the assets of Indiana Limestone Company (“Indiana Limestone”), the largest dimensional limestone quarrier and fabricator in the United States. Wynnchurch acquired the assets out of bankruptcy.

“We are pleased with the support Wynnchurch provided as our DIP lender throughout the bankruptcy process. Indiana Limestone will be able to leverage the expertise, resources and capital that Wynnchurch provides to deliver our products to the marketplace and drive growth”

With a history dating back to the mid-1800s, Indiana Limestone is headquartered in Oolitic, Ind., in the heart of the Indiana limestone belt, the source of the highest quality quarried limestone in the United States. Indiana limestone is known as the Nation’s Building Stone used in many famous structures such as the Empire State Building and the Pentagon, and Indiana Limestone’s products are employed today as a durable and energy efficient building stone in institutional, commercial and residential structures across the country.

“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,” says Wynnchurch Partner Terry Theodore.

“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.

“We are pleased with the support Wynnchurch provided as our DIP lender throughout the bankruptcy process. Indiana Limestone will be able to leverage the expertise, resources and capital that Wynnchurch provides to deliver our products to the marketplace and drive growth,” says Indiana Limestone Chief Executive Officer Tom Quigley.

About Indiana Limestone:

Located in the heart of one of the world’s richest limestone deposits, Indiana Limestone Company owns and operates quarries covering over 4,000 acres and holding reserves well in excess of 100 years supply in its eight main quarries. The company is unmatched as the only fully integrated supplier of Indiana Limestone. From raw block and slab to standard building products, it is the leading supplier of The Nation’s Building Stone. Since its beginning in the mid-1800s, it has grown to be the largest limestone quarrier and fabricator in North America.

About Wynnchurch Capital:

Wynnchurch Capital, headquartered in the Chicago suburb of Rosemont, Illinois with offices in Detroit, Toronto, and an affiliate office in Montreal, was founded in 1999 and is a leading middle-market private equity investment firm. Wynnchurch’s strategy is to partner with middle market companies in the United States and Canada which have outstanding management teams and possess the potential for substantial growth and profit improvement. Wynnchurch focuses on investments in niche manufacturing, business and industrial services, energy and power services, logistics, transportation and value-added distribution. Wynnchurch manages a number of private equity funds with capital under management in excess of $1 billion specializing in management buyouts, recapitalizations, corporate carve-outs, restructurings and growth capital.

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