Mississippi Lime Co., a portfolio company of HBM Holdings, announced it has executed a definitive agreement to acquire the Calera, Ala., lime business of Covia, operating historically as Southern Lime.
The Calera business supplies high-calcium quicklime and hydrated lime products to customers in the Southeastern United States, and across a range of end uses and applications. In operation for more than 60 years, the facility has consistently evolved to meet customer needs and industry production best practices.
“We are thrilled to welcome the Calera operation to our business,” said William Ayers, CEO of Mississippi Lime. “This acquisition advances our mission to provide world-class lime products and solutions through differentiated quality, technical expertise, and customer service. Entering the Southeast enables us to expand this tradition in an attractive market, while growing our customer and end market base.”
The Calera operation increases Mississippi Lime’s production facilities to nine locations, supported by a network of distribution sites throughout the country. The business will be fully integrated into existing Mississippi Lime operations.
The acquisition broadens HBM’s expertise in the chemicals and minerals sector, anchored by Mississippi Lime. HBM continues to grow its portfolio with investments outside of the lime industry, with a focus on precision machined components, packaging and environmental services.
“Southern Lime is a strong diversification investment for both Mississippi Lime and HBM,” added Anderson Fincher, CEO of HBM Holdings. “The business exposes us to a different geography and end-use mix, in a market we understand well. I am confident this investment will bring exciting opportunities across our portfolio, well into the future.”
The transaction is subject to customary closing conditions, including the receipt of regulatory approval.
Mississippi Lime operates the largest lime facility in the Americas and mines some of the purest limestone reserves in the world, according to the company. The company supplies high-calcium quicklime, hydrated lime, calcium carbonate products, trucking services and technical solutions from a diversified, reliable network of facilities in Ste. Genevieve, Mo.; Verona, Ken.; Vicksburg, Miss.; Weirton, W.Va.; Chester, S.C.; Mobile, Ala.; Prairie du Rocher, Ill.; Bridgeville, Pa.; as well as several distribution sites throughout the country.