In The
News
Prince Mineral Company, Inc. (“Prince”), announced today that it has acquired the business and assets of American Minerals, Inc. (“AMI”).
NEW YORK, NY—Mar. 23, 2005—Prince Mineral Company, Inc. (“Prince”), announced today that it has acquired the business and assets of American Minerals, Inc. (“AMI”). Prince Mineral Company, Inc. is a portfolio company of Palladium Equity Partners II, LP. AMI was formerly owned by a subsidiary of Imerys SA, a global mineral mining and processing company based in Paris, France. Terms of the acquisition were not disclosed.
Prince’s Chairman, Willson Ropp, commented, “American Minerals is a leader in industrial minerals with longstanding customer relationships and a talented and experienced management team. The acquisition of AMI provides Prince with growth and expansion opportunities into new markets and products. The combination will allow us to provide additional services to our customers and will broaden our geographic reach. This is a positive event for the employees, suppliers and customers of both companies.”
Marcos A. Rodriguez, Managing Member of Palladium Equity Partners, LLC commented, “We are extremely pleased to have American Minerals joining Prince. AMI has a strong franchise in its core markets and an excellent group of employees. We look forward to continuing to work with Prince to facilitate future growth and expansion of its business.”
Prince Mineral Company, Inc. is a leading producer of specialty mineral products with a particular focus on naturally occurring minerals used primarily in pigment applications. It services a variety of industries and its products, which are primarily iron and manganese compounds, enjoy widespread use in bricks, cement, steel, and numerous other applications. The company operates four processing facilities strategically located in the US covering the Northeast, Midwest, and Southern markets.
American Minerals, Inc., founded in 1960, processes and trades a range of industrial minerals, including chrome, zircon, magnesite and iron pyrites from four locations. Primary applications include the foundry, glass, abrasives and refractory markets.
Palladium Equity Partners, LLC, based in New York, is a private equity firm focusing investments in middle market companies with the objective of generating superior risk-adjusted returns through proven financial and operating expertise. Palladium considers investments across a range of industries and target markets and has a particular focus on companies that are well-positioned to capitalize on the fast-growing U.S. Hispanic market. Formed in 1997, Palladium is led by an experienced team of investment professionals and currently has committed equity capital in excess of $500 million. Collectively, the Palladium management team has over 60 years of private equity experience and 35 years in the U.S. Hispanic market. Since 1986, the principals have invested almost $1 billion of equity in 28 portfolio companies.
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Contacts:
Prince Mineral Company, Inc.
212-218-5150
www.princemfg.com
Marcos Rodriguez for Palladium Equity Partners, LLC
212-218-5150