Resilience Capital Partners announced the acquisition of Victor Oolitic Stone Company, a Bloomington, Ind.-based limestone provider. This transaction marks the first acquisition under Resilience’s previously announced industrial minerals platform, North Coast Minerals. Deal terms were not disclosed.
Resilience Capital Partners, a leading private equity firm, announced the acquisition of Victor Oolitic Stone Company. This transaction marks the first acquisition under Resilience’s previously announced industrial minerals platform, North Coast Minerals. For more than 100 years Victor Oolitic has been a leading provider of Indiana limestone to the dimensional stone market place. Victor Oolitic’s products are well-known throughout the industry for having consistent color, tightness of grain, absence of variation, texture and finish. The Company primarily sells into four end markets including institutional (churches, universities, government), high end residential ($5 to $50 million homes), commercial (malls, hotels, office buildings) and residential (accents, window sills, flagstones and keystones). Victor Oolitic utilizes two distribution channels including cut stone fabricators and brick and masonry yards.
Resilience Capital was named the successful bidder in the Company’s chapter 11 section 363 auction held on November 17, 2008. “We are excited about the opportunity to be working with Victor Oolitic and believe the company provides an excellent platform for the future. The acquisition is consistent with our strategy of identifying and organically growing operations that are strategically placed to serve multiple end markets,” said Michael Lundin, Chairman North Coast Minerals and Operating Partner Resilience Capital.
“The completion of this transaction marks a new day in the history of Victor Oolitic and the beginning of a well thought out long term investment strategy for Resilience in industrial minerals. We look forward to working closely with Victor Oolitic’s management team and employees to continue its long heritage of quality and leadership in its industry,” said Bassem Mansour, Co-CEO, Resilience Capital Partners.
About Resilience Capital Partners
Headquartered in Cleveland, Ohio, Resilience Capital Partners is a leading private equity firm specializing in investing in lower middle market companies in a broad range of industries. Resilience’s value oriented investment strategy is to acquire companies with solid business prospects in a wide variety of special situations including underperformers, corporate divestitures, turnarounds and orphan public companies. Since its inception in 2001, Resilience has acquired 17 companies with total revenue in excess of $1.5 billion. In January 2009, Resilience won the 2008 Private Equity Firm of the Year Deal Makers Award from the Association for Corporate Growth. For more information, please visit www.resiliencecapital.com.
About Victor Oolitic Stone Company
Located in Bloomington, Indiana, Victor Oolitic is the leading provider of dimension Indiana Limestone in North America. The company, established in 1897, quarries the highest quality oolitic limestone for use in institutional, commercial and residential construction. Victor Oolitic has significant proven reserves in excess of 100 years supply in the Indiana Limestone Belt. The company offers buff, gray and variegated quarry blocks and slabs to the stone fabrication market and ready-to-use sills, treads, hearths, paving, caps and coping materials to brick, masonry and landscape supply yards. For more information, please visit http://www.victoroolitic.com/.