GHJ&M recaps Stellar Materials

Goldner Hawn Johnson & Morrison Inc has recapitalized Stellar Materials. No financial terms were disclosed for the transaction that was done with Armory Capital and Stellar Materials co-founders David and Neil Mintz. Based in Boca Raton, Florida, Stellar Materials is a maker of refractory materials sold under the Thermbond brand.

PRESS RELEASE

Minneapolis, MN – Goldner Hawn Johnson & Morrison Incorporated (“GHJ&M”), through its Trailhead Fund Limited Partnership (“Trailhead Fund”), is pleased to announce the recapitalization of Stellar Materials, LLC (“Stellar Materials”), in partnership with David and Neil Mintz, the co-founders of Stellar Materials, and Armory Capital.

Stellar Materials, headquartered in Boca Raton, Florida, is a manufacturer of patented refractory materials sold under the Thermbond brand. Thermbond products serve as insulation in ovens and furnaces used in metal, mineral and hydrocarbon processing industries. The investment in Stellar Materials positions the Company for accelerated growth, the development of new end-markets and the rollout of new product lines. David Mintz, CEO of Stellar Materials, commented on the investment by GHJ&M, “We are excited to align ourselves with GHJ&M and to continue to build on the Thermbond brand. GHJ&M’s philosophy of partnering with management resonated strongly with Neil and me.”

Pete Settle, a GHJ&M Managing Director and Stellar Materials board member, stated, “We are very pleased to have the opportunity to work with David and Neil. Through their vision and execution, Stellar has built a strong brand and leadership position in the refractories industry. We look forward to bringing additional capital and operational insight to continue the growth of the Company.”

Trailhead Fund, which had its final closing in June 2013, has $250 million in committed capital and is GHJ&M’s sixth fund. Through Trailhead Fund, GHJ&M is actively seeking control equity investments in lower middle market companies with earnings before interest, taxes, depreciation and amortization (“EBITDA”) of $5 million to $15 million and enterprise valuations ranging from $20 million to $150 million. GHJ&M has particular interest and investment experience in value-added manufacturing and distribution, business services, transportation, consumer products and services, and food products and processing.

Armory Capital is a family investment office headquartered in Champaign, Illinois. Armory has a legacy of more than 60 years of investing in private businesses. The firm makes growth equity and management-led buyout investments of $5 million to $50 million. Members of Armory have experience in a wide range of industries, including business services, consumer products, financial services, manufacturing, media, and transportation. Learn more at armorycap.com.

Founded in 1989, Minneapolis-based Goldner Hawn Johnson & Morrison is one of the longest standing private equity firms in the Midwest. The firm is actively investing its sixth investment fund with $250 million in committed capital. GHJ&M makes control equity investments in lower middle market companies with EBITDA in the range of $5 million to $15 million and enterprise values from $20 million to $150 million.

For additional information on our investment criteria and team, please visit www.ghjm.com.