H.I.G. Capital announced that ACG Materials has acquired Diamond Gypsum Co. Located in Watonga, Okla., Diamond Gypsum is a leading miner of gypsum products sold into various oil and gas, infrastructure and agricultural applications.
“Diamond Gypsum owns and operates a quarry in central Oklahoma and serves a diverse set of blue-chip customers with high-quality aggregate and processed gypsum products,” according to H.I.G.
“We are excited to further strengthen our position as the leading industrial mineral and aggregate producer in the Midwest,” commented Paul Harrington, chief executive officer of ACG Materials. “Diamond Gypsum helps expand our presence in the STACK shale basin, one of the fastest growing energy markets in the U.S. We look forward to partnering with Diamond Gypsum’s strong employee base and building upon their reputation for unmatched product quality and customer service.”
Keval Patel, a managing director at H.I.G, said, “We are pleased to support ACG Materials in its acquisition of Diamond Gypsum and continue our successful track record of acquiring leading mining and processing operations in attractive, high-growth markets.”
Diamond Gypsum is the seventh add-on acquisition that ACG Materials has closed since H.I.G. acquired the company at the end of 2012.