Instone, a portfolio company of Brookstone Partners, has acquired Plainville, Massachusetts-based Northeast Masonry Distributors, a provider of natural stone for landscaping. No financial terms were disclosed.
NEW YORK & PLAINVILLE, Mass.–(BUSINESS WIRE)–Instone, a portfolio company of Brookstone Partners, acquired Northeast Masonry Distributors (“NMD”) of Plainville, MA in November 2019.
Instone is the premier wholesale distributor of manufactured and natural thin veneer stone in the United States. By acquiring NMD, it now provides quality products for both the horizontal and vertical applications. NMD is the largest wholesale distributor of Natural Stone for landscaping in New England.
Jim Palatine, GM of NMD, believes: “becoming part of Instone represents the next big step for NMD’s growth. We couldn’t be more excited to be part of a larger organization that expands our product offering and enhances service.”
Gordon Strout, CEO of Instone, remarked: “After spending years searching for the ‘right’ business to acquire, it was exciting to meet Jim and his team and realize we finally found a high quality team and business that created exceptional synergies with Instone, just outstanding.”
Kevin Grotke, GM of Instone, said: “We are excited to bring these two powerful organizations together to create the strongest distribution platform in the industry.”
Michael Toporek, Brookstone’s Managing General Partner, said: “We are thrilled to put together two companies that have such compatible cultures focused on exceeding customer expectations.”
Instone is the premier distributor of thin veneer stone, both natural and man-made, in the USA. Through its recent acquisition of NMD it now provides products for both the horizontal and vertical planes. For more information, visit www.instoneco.com or www.northeast-masonry.com.
About Brookstone Partners
Founded in 2003, the New York-based firm prides itself on “Building Businesses, Investing in People.” The firm creates investment situations where its goals as investors are directly aligned with those of management and is one of the key factors to its success. Brookstone calls this “goal congruency.” As soon as the firm commits its capital, they expect to begin working aggressively with management to build the company for the benefit of all stakeholders.
Key points about the firm’s investment criteria and strategy:
Lower middle market Industrial Private Equity
Majority, minority or growth capital
Long-term holders, no pre-defined fund life
Principals of the firm invest 30%-40% of every dollar, creating strong alignment with entrepreneurs
For more information, visit www.brookstonepartners.com.