- Represented Western Lime in its sale to Graymont.
- Western, a sixth-generation family owned and managed business, operates three lime plants in Wisconsin and Michigan. The business was formed in 1921 by the merger of eight family-owned lime producers, the oldest of which dated back to 1847.
- Graymont Limited is one of the leading producers of mineral products in North America. The Company produces a diverse array of lime and other mineral products, as well as providing handling and storage solutions, logistics, and sales and technical support. Serves a variety of applications, including infrastructure, agriculture, asphalt, building construction, environmental remediation, flue gas desulfurization, food, glass, mining, PCC, pulp and paper, soda ash, soil stabilization, steel, sugar, and water treatment. Headquartered in Richmond, Canada, Graymont has additional offices and plants throughout the United States and Canada.
- Since the North American lime industry is dominated by a handful of strategic players, and the capex-heavy economics of the lime market are more challenging for private equity, we were able to quickly identify a short list of potential strategic buyers.
- Western was regarded as one of the only attractive independent suppliers remaining, which allowed us to create a robust, competitive process.
- Despite being significantly smaller than the two global lime industry leaders (Carmeuse and Lhoist), Graymont prevailed by taking an aggressive approach in their final proposal. As a result of the acquisition, it became the second largest lime company in North America.