H.I.G. Capital News
1450 Brickell Avenue
Miami, FL 33131
ACG Materials Announces Acquisition of Kelly Limestone
MIAMI– February 28, 2018 – H.I.G. Capital, LLC (“H.I.G.”), a leading global private equity investment firm with $24 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 Kelly Limestone, LLC (“Kelly Limestone”).
Located in Kirksville, Missouri, Kelly Limestone is a leading manufacturer of prill and pelletized limestone, gypsum and dolomite products sold into various agriculture and industrial applications. Kelly Limestone’s Maxi Cal and Capsulated™ pelletized products are pioneering products in the agricultural and field turf industries.
“We are excited about the strategic expansion of our operations with the addition of a leading specialty products producer in the Midwest,” commented Paul Harrington, Chief Executive Officer of ACG Materials. “Kelly Limestone will expand our strategic footprint within the Midwest and provide complimentary products to serve our growing agriculture and turf customers. Kelly Limestone has a long and successful history dating back to 1959, and we will be sure to serve as great stewards of the business going forward.”
"We are pleased to support ACG Materials in its acquisition of Kelly Limestone," commented Keval Patel, a Managing Director of H.I.G. Capital. “The investment further establishes ACG’s national footprint and expands our market presence for specialized agricultural products. The acquisition continues our strategy to broaden ACG’s geographic reach both regionally and nationally, as well as end market diversification.”
Kelly Limestone is the eighth add-on acquisition that ACG Materials has made since H.I.G. acquired the Company at the end of 2012.
About Kelly Limestone
Established in 1959, Kelly Limestone manufactures industry leading prill and pelletized products sold to the top growers, farmers, horticulturalists and golf courses in the country. Kelly Limestone is located in Kirksville, Missouri.
About ACG Materials
ACG Materials, based in Norman, Oklahoma, mines, mills, processes, and distributes industrial minerals and aggregates including gypsum, anhydrite, limestone, sand, gravel 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 $24 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, Rio de Janeiro and Mexico City, 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.