ACG Materials, a portfolio company of H.I.G. Capital LLC, has acquired Washington-based Kitsap Reclamation and Materials Inc, a miner and processor of aggregate products. No financial terms were disclosed.
MIAMI–(BUSINESS WIRE)–H.I.G. Capital, LLC (“H.I.G.”), a leading global private equity investment firm with $25 billion of equity capital under management, is pleased to announce that its portfolio company, ACG Materials (“ACG” or the “Company”), a leading miner and processor of industrial minerals and aggregates, has acquired Kitsap Reclamation and Materials, Inc. (“Kitsap”).
Founded in 1993, Kitsap is a leading miner and processor of aggregate products sold into various infrastructure, building products and landscaping applications. Kitsap operates a basalt quarry in Bremerton, Washington and ships its products throughout the fast-growing Seattle metropolitan area.
“We are excited to further strengthen our position as a leading industrial mineral and aggregate producer in the Pacific Northwest,” commented Paul Harrington, Chief Executive Officer of ACG. “Kitsap will expand our strategic footprint within the region and provide complementary products to serve our growing customer base in that area. We look forward to partnering with Kitsap’s strong employee base and building upon their reputation for unmatched product quality and customer service.”
“We are pleased to support ACG in its acquisition of Kitsap,” commented Keval Patel, a Managing Director of H.I.G. “The investment continues our successful track record of acquiring leading mining and processing operations in attractive, high growth markets.”
Kitsap is the ninth add-on acquisition that ACG has made since H.I.G. acquired the Company at the end of 2012.
Established in 1993, Kitsap is a leading miner and processor of aggregate products sold into infrastructure, building products and landscaping applications. The Company operates a basalt quarry in Bremerton, Washington.
About ACG Materials
ACG Materials, based in Norman, Oklahoma, mines, mills, processes, and distributes industrial minerals and aggregates including gypsum, anhydrite, limestone, sand, gravel, basalt and downstream food, pharmaceutical, prill and plaster products across a diverse set of end markets including building products, energy, infrastructure, agriculture, and others. The Company operates out of 23 locations throughout Oklahoma, Texas, Florida, Kansas, Missouri, Nevada, Washington, and British Columbia. ACG Materials was founded as Harrison Gypsum, LLC in 1955. For more information, call 1-800-624-5963, or visit www.acgmaterials.com.
About H.I.G. Capital
H.I.G. is a leading global private equity and alternative assets investment firm with $25 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Mexico City, Rio de Janeiro and São Paulo. H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/ value-added approach. For more information, please refer to the H.I.G. website at www.higcapital.com.
* Based on total capital commitments managed by H.I.G. Capital and affiliates.