HIG Capital Sells ACG Materials To Arcosa

HIG Capital sells ACG Materials to Arcosa for $315 million.
ACG Materials mines, processes, and distributes industrial minerals and aggregates. Gypsum, limestone, sand, gravel, basalt, and downstream food, pharmaceutical, pelleted, and plaster products. All these across diverse end markets such as building products, energy, infrastructure, and agriculture.
HIG Capital refinanced ACG Materials in December 2012. With the completion of 9 acquisitions and 6 greenfield projects, ACG grew from 5 mines and 2 production facilities in Oklahoma to 24 mines and 5 production facilities across 8 states and provinces. HIG also made important investments in management, IT infrastructure, sales, marketing, and manufacturing capacity.
Paul Harrington of ACG Materials said: 'HIG has been a great partner, as they have been supportive helping to transform ACG into a professionally managed, diversified, national platform with exciting growth potential. We are excited to continue this next chapter with Arcosa, whose platform and resources will help us realize the considerable opportunities ahead.'
Keval Patel of HIG Capital said: 'It has been a pleasure working with Paul and the ACG management team. Their strategic vision and consistent execution have resulted in an outstanding investment outcome for management and shareholders, including the founder Russ Harrison. We are confident that ACG will continue to build on its record of success and impressive growth under the Arcosa umbrella.'
Arcosa, headquartered in Dallas, provides infrastructure-related products and solutions with leading positions in construction, energy, and transportation markets. ACG adds 24 active mines and 5 production facilities to Arcosa’s 18 active aggregates and specialty materials locations. ACG’s operating facilities are located in Texas, Florida, Oklahoma, Kansas, Missouri, Washington, Nevada, and British Columbia.
Antonio Carrillo of Arcosa said: 'The acquisition of ACG demonstrates execution on key elements of our strategic growth plan to expand our Construction Products business and to grow in attractive markets. ACG is an important acquisition, adding significant scale to the Construction Products segment, extending our specialty product portfolio and geographic reach, and expanding our end markets. ACG’s experienced leadership team brings a track record of operating excellence and growth. We look forward to leveraging their expertise as we continue to expand our Construction Products segment through organic growth initiatives and acquisitions.'
Paul Harrington of ACG added: 'Arcosa provides a platform for us to continue growing through organic investments and bolt-on acquisitions. Our management team is enthusiastic about this combination, and we look forward to working with our counterparts in Arcosa’s Construction Products segment to drive profitable growth.'

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