Palladium-backed Prince Mineral Buys GSC
Mineral products rivals merge on the heels of Palladiums selling snack-maker Wise Foods
Private equity-backed Prince Mineral Holding Corp. has acquired Grinding and Sizing Co. LLC (GSC), a distributor of specialty mineral products and additives, for an undisclosed amount.
Prince, owned by Palladium Equity Partners LLC, is headquartered in New York and provides packaging, drying, milling and mixing services from some 13 facilities across North America and Europe. The company, which has customers in over 65 countries, helps develop a variety of products used in the brick, glass, agriculture, chemical, steel and energy industries.
GSC, based in Lufkin, Texas, manufactures additives used by the drilling fluids segment of the petroleum industry. The target represents Prince’s tenth acquisition to date.
Palladium has more than $1 billion in assets under management. The firm, also based in New York, owns several portfolio companies, including American Gilsonite Co., Jordan Health Services and Taco Bueno Restaurants. The firm recently exited Wise Foods Inc.
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