Executive Managing Director
1450 Brickell Avenue
Miami, FL 33131
H.I.G. Capital Completes Recapitalization of Harrison Gypsum
MIAMI – December 26, 2012 – H.I.G. Capital ("H.I.G."), a leading global private equity investment firm with more than $10 billion of equity capital under management, announced today that its affiliate has completed a recapitalization of Harrison Gypsum, LLC (“HG”). Based in Norman, Oklahoma, HG is a leading producer and processor of high-quality gypsum and plaster products.
Since 1955, Harrison Gypsum has mined, processed and produced gypsum products to serve a diverse set of end markets including building products, energy, infrastructure, agriculture, food, and pharmaceuticals. Through its 10 mines, centrally located in Western Oklahoma and North Texas, Harrison Gypsum has access to over 350 million tons of high-quality gypsum. HG has two production facilities in Bessie, Oklahoma and Mooreland, Oklahoma for production of kosher, food-grade gypsum and high-quality plasters, respectively. HG employs one of the most technologically advanced and efficient gypsum production processes in the gypsum industry.
Keval Patel, Principal of H.I.G., said, "We are very pleased to be partnering with Russ Harrison and the Harrison Gypsum management team. Russ and team have built HG into a diversified, market leader of high quality, customized gypsum and plaster products. We look forward to helping Harrison Gypsum continue to grow and enhance its product offering and service capabilities."
“We are very excited about this next stage for Harrison Gypsum. Our partnership with H.I.G. provides us with financial and operating resources that will enable us to further capitalize on our significant growth potential,” added Russ Harrison, Chief Executive Officer of Harrison Gypsum. “Our customers will experience a seamless transition in this new partnership and in the long-term, they will also enjoy additional product and service offerings.”
About Harrison Gypsum, LLC.
Harrison Gypsum, LLC, based in Norman, Oklahoma, mines, mills, processes and distributes gypsum, anhydrite and plaster products. Harrison Gypsum is a high-quality, premium niche gypsum and plaster supplier for a diverse set of end markets including building products, energy, infrastructure, agriculture, food, pharmaceuticals. Through the Company’s 57 year history, Harrison Gypsum has established itself as a highly regarded supplier of gypsum and plaster products in the United States. For more information, call 1-800-624-5963, or visit www.harrisongypsum.com.
About H.I.G. Capital
H.I.G. is a leading global private equity investment firm with more than $10 billion of equity capital under management. Based in Miami, and with offices in Atlanta, Boston, Chicago, Dallas, New York, and San Francisco in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Paris, and Rio de Janeiro, H.I.G. specializes in providing capital to small and medium-sized companies with attractive growth potential. H.I.G. invests in management-led buyouts and recapitalizations of profitable and well managed manufacturing or service businesses. H.I.G. also has extensive experience with financial restructurings and operational turnarounds. Since its founding in 1993, H.I.G. invested in and managed more than 200 companies worldwide. The firm's current portfolio includes more than 70 companies. For more information, please refer to the H.I.G. website at www.higcapital.com.