Iconic Indiana Company Returns to Growth

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Major projects using Indiana Limestone products include the Empire State Building in New York City, the Pentagon in Washington D.C. and the Indiana War Memorial (pictured) in Indianapolis. Major projects using Indiana Limestone products include the Empire State Building in New York City, the Pentagon in Washington D.C. and the Indiana War Memorial (pictured) in Indianapolis.

A 90-year-old Indiana company that hit a rough financial patch has turned into a Hoosier growth story. Indiana Limestone Co. Chief Executive Officer Tom Quigley says since emerging from bankruptcy and a 2014 acquisition by Chicago-based Wynnchurch Capital Ltd., production is up, jobs have been added and capital investments have been "dramatically improved." Quigley says the company, which has moved its corporate headquarters from Oolitic to Bloomington, was forced to get "back to the basics of the business."

In an interview on Inside INdiana Business Television, Quigley says the company is focusing on technology, marketing and growth opportunities looking forward.

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. Indiana Commercial Finance LLC, a subsidiary of Wynnchurch Capital Ltd., acquired the company at auction in a $26 million deal.

The company says it is partnering with a Carmel marketing firm to help boost its brand and working with state economic development leaders to find additional sources of capital investment. In December, the company announced a partnership with Michigan-based Quarton Partners to help identify potential acquisitions and new business alliances. At the time, Quigley said the agreement would help the company "create even greater customer value in the market."

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