Harrison Gypsum Announces Acquisition of J.A. Jack & Sons
By Business Wire News
By Business Wire News
H.I.G. Capital (“H.I.G.”), a leading global private equity investment firm with more than $17 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 minerals and aggregates including gypsum, limestone, sand, gravel and downstream food, pharmaceutical and plaster products, has acquired J.A. Jack & Sons, Inc. (“J.A. Jack” or the “Company”).
J.A. Jack is a market leading miner and processor of limestone products, sold into building products, glass, plaster, agriculture, animal nutrition, and coatings applications. The Company owns and operates a quarry on Texada Island in British Columbia and ships rock to a processing facility in Seattle, WA.
“We are excited about the strategic expansion of our operations into the Pacific Northwest,” commented Paul Harrington, Chief Executive Officer of Harrison Gypsum. “J.A. Jack not only allows us to grow outside our core markets of Oklahoma and Texas, but also significantly broadens our customer footprint and product portfolio within our expertise of mineral processing. The Company has had a long and successful history under the Jack family dating back to the 1940’s, and we will be sure to serve as great stewards of the business going forward.”
“We are pleased to support Harrison Gypsum in its acquisition of J.A. Jack,” commented Keval Patel, a Managing Director of H.I.G. Capital. “The investment further establishes Harrison Gypsum as a national, pure-play minerals provider and continues our strategy to expand Harrison Gypsum’s geographic reach and end market diversification. The Western U.S. remains a key expansion area for us and J.A. Jack will help us accelerate our growth in this region.”
J.A. Jack is the fourth add-on acquisition that Harrison Gypsum has made since H.I.G. acquired the Company at the end of 2012.
About J.A. Jack & Sons, Inc.
J.A. Jack & Sons, Inc. is a miner and processor of limestone products, sold into building products, glass, plaster, agriculture, animal nutrition, and coatings applications across the Pacific Northwest.
About Harrison Gypsum, LLC
Harrison Gypsum, LLC, based in Norman, Oklahoma, mines, mills, processes, and distributes minerals and aggregates including gypsum, anhydrite, limestone, sand, gravel and downstream food, pharmaceutical and plaster products in the Southwest United States. The Company operates out of 19 locations in Oklahoma, Texas, Washington and Canada and serves a diverse set of end markets including building products, energy, industrials, infrastructure, agriculture, food and pharmaceuticals. Through the Company’s 59 year history, Harrison Gypsum has established itself as a highly regarded supplier of minerals and related 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. is a leading global private equity and alternative assets investment firm with more than $17 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris and Rio de Janeiro, 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:
1) H.I.G.’s equity funds invest in management buyouts, recapitalizations and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
2) H.I.G.’s debt funds invest in senior, unitranche and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as on the secondary markets. H.I.G. is also a leading CLO manager, through its WhiteHorse family of vehicles, and manages a publicly traded BDC, WhiteHorse Finance.
3) Other H.I.G. funds invest in various real assets, including real estate and shipping.
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.higcapital.com.
* Based on total capital commitments to funds managed by H.I.G. Capital and its affiliates.