Harrison Gypsum Announces Acquisition of Pinnacle Materials Eagle Ford DivisionAcquisition supports Harrison Gypsum’s national expansion
MIAMI – August 20, 2013 – H.I.G. Capital (“H.I.G.”), a leading global private equity investment firm with more than $13 billion of equity capital under management, announced today that its portfolio company, Harrison Gypsum (“HG” or the “Company”), a leading, vertically integrated producer and processor of high-quality gypsum and plaster products, has acquired the assets of Pinnacle Materials LLC’s, Eagle Ford Division (“Eagle Ford Division” or “EFD”) in South Texas. The Company will do business as ACG Materials.
Regionally headquartered in Dilley, TX, EFD is the dominant market leader in the region, operating out of six mines, producing high quality aggregate material used to build and maintain roads and well pads in the oil-rich Eagle Ford Shale region. In addition to providing aggregate materials, EFD serves as a one-stop-shop of drill build materials also providing soil stabilization products and steel manufactured goods to the energy end market.
“We are pleased to support Harrison Gypsum in its acquisition of Pinnacle Materials’ Eagle Ford Division,” commented Keval Patel, a Principal of H.I.G. Capital. “The acquisition will expand HG’s geographic footprint and capabilities in one of the most exciting shale plays in North America. We are truly excited about EFD and the pipeline of opportunities it brings.”
“We are very excited about this next stage of growth for Harrison Gypsum. Our new Eagle Ford operation will operate under “ACG Materials” and help us capitalize on the significant growth occurring in South Texas,” commented Russ Harrison, Chief Executive Officer of Harrison Gypsum. “Our expertise in mining aggregates and existing customer relationships should bring significant benefit to ACG Materials.”
About Pinnacle Materials, LLC
Pinnacle Materials, LLC, based in Sulphur Springs, Texas, provides aggregate materials, soil stabilization products and steel manufactured goods to the oil and gas industry across various oil & gas basins across the country.
About Harrison Gypsum, LLC
Harrison Gypsum, LLC, based in Norman, Oklahoma, mines, mills, processes and distributes gypsum, anhydrite and plaster products in the Southwest. Harrison Gypsum is a high-quality, premium niche gypsum, aggregates and plaster supplier for a diverse set of end markets including building products, energy, infrastructure, agriculture, food, pharmaceuticals. Through the Company’s 58 year history, Harrison Gypsum has established itself as a highly regarded supplier of gypsum and plaster products in the United States. For more information, call 1-800-624-5963, or visit www.harrisongypsum.com.
About H.I.G. Capital
H.I.G. Capital is a leading global private equity investment firm with more than $13 billion of equity capital under management. Based in Miami, and with offices in Atlanta, Boston, Chicago, Dallas, New York, and San Francisco in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Paris, and Rio de Janeiro, H.I.G. specializes in providing capital to small and medium-sized companies with attractive growth potential. H.I.G. invests in management-led buyouts and recapitalizations of profitable and well managed manufacturing or service businesses. H.I.G. also has extensive experience with financial restructurings and operational turnarounds. Since its founding in 1993, H.I.G. has invested in and managed more than 200 companies worldwide. The firm’s current portfolio includes more than 80 companies with combined sales in excess of $30 billion. For more information, please refer to the H.I.G. website at www.hig.com.