Stone Canyon Industries Holdings Announces Agreement to Acquire Kissner Group Holdings
03 Feb, 2020, 09:00 ET
LOS ANGELES, Feb. 3, 2020 /PRNewswire/ -- Stone Canyon Industries Holdings LLC ("SCIH") today announced that it has entered into an agreement to acquire the business of Kissner Group Holdings LP ("Kissner"), a leading pure-play producer and supplier of salt in North America.
Terms of the transaction were not disclosed. Sellers include Metalmark Capital Holdings LLC and Silvertree-KMC II LP, a venture between Silverhawk Capital Partners and Demetree Salt, LLC.
"This investment represents another important step in our plan to build a diversified industrial conglomerate," said James Fordyce, Co-CEO of SCIH. "We plan to expand on the success created by Kissner's management team over a long-term horizon."
"We're very excited about the growth opportunities that lie ahead of Kissner in light of our new partnership with SCIH," said Mark Demetree, Executive Chairman and CEO of Kissner. "We look forward to continuing to expand Kissner's capabilities to deliver high quality products and service to our customers."
BMO Capital Markets and Morgan Stanley & Co. LLC served as financial advisors to SCIH and Gibson, Dunn & Crutcher LLP and Torys LLP served as legal advisors. Harris Williams LLC served as financial advisor to Sellers and Davis Polk & Wardwell LLP, Bennett Jones LLP and Finn, Dixon & Herling LLP served as legal advisors.
Headquartered in Overland Park, Kansas, Kissner is a leading, vertically integrated bulk salt, specialty salt and evaporated salt producer focused on governmental and commercial customers across the United States and Canada. Kissner owns and operates two rock salt mines located in Detroit, Michigan and Lyons, Kansas, an evaporated salt business (US Salt), which has a refinery in Watkins Glen, New York, three salt production facilities co-located on potash mines in Western Canada, multiple packaging facilities, and a network of distribution and storage terminals located throughout the United States.
About Stone Canyon Industries Holdings
Stone Canyon Industries Holdings ("SCIH") is a global industrial holding company designed to "buy, build and hold" for the long term, with a strategy focused on acquiring and operating market leading companies. SCIH was founded by Co-CEOs Adam Cohn and James Fordyce. SCIH companies operate in essential industries that provide mission-critical products and services to customers around the world. SCIH seeks to build out industrial verticals in stable and mature industries that possess favorable economic dynamics with high barriers to entry; a fragmented industry poised to create or strengthen a market leader through consolidation; and an opportunity to build a substantial company that will make a difference. For more information, please visit www.scihinc.com.
SOURCE Stone Canyon Industries Holdings LLC
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