Indiana Limestone Details Growth, Partnership
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowOolitic-based Indiana Limestone Co. is working with advisory firm Quarton Partners in Michigan to help identify potential acquisitions and new business partnerships. ILCO says it has been on a rapid growth trajectory since being acquired last year by Chicago-based Wynnchurch Capital Ltd.
Indiana Limestone Chief Executive Officer Tom Quigley says the partnership will help the company "create even greater customer value in the market." The company, which has roots back to the 19th century, says it has doubled excavation figures and added more than 50 employees since the May 2014 acquisition by Wynnchurch.
Wynnchurch Managing Partner John Hatherly says its partnership with ILCO has been mutually beneficial, saying the "opportunity to invest in the building products space is attractive as we see the company as a business platform for us."
Indiana Limestone Co. was founded in 1926, with predecessor firms that had been quarrying limestone since the mid-1800s. The company’s stone is part of iconic structures including the Empire State Building, National Cathedral and the Pentagon.