The management team of NALC USA Corp., wholly owned subsidiary of North American Limestone Corp. based in Toronto, Ontario, Canada, announced the buyout of the company’s assets, effective July 1, 2014. The name of the new entity is NALC, LLC.
NALC, LLC is a private company “focused on leadership in the aggregates and industrial minerals businesses,” the company said in a statement.
Included with the management-led buyout is the acquisition of all the quarry and fine grind assets located in Putnam County, Ind., near the town of Cloverdale. NALC, LLC controls approximately 350 acres with more than 80 million tons of high-quality reserves, according to company sources.
The management team developed the greenfield quarry in 2008 and, to capitalize on the high calcium carbonate reserves and market opportunities, added the fine grind plant in early 2011. The company participates primarily in the energy, agricultural, retail and construction market segments.
Just prior to the buyout, management announced the acquisition and rezoning of a large block of additional reserves, situated near the existing operations, complementing the already significant quantity of high calcium carbonate reserves base.