Stone Canyon Industries Holdings LLC has announced that it has entered into an agreement to acquire the business of Kissner Group Holdings LP. a leading pure-play producer and supplier of salt in North America.
Owned by Metalmark Capital Holdings LLC and Silvertree-KMC II LP, a venture between Silverhawk Capital Partners and Demetree Salt, LLC., and bBased in Overland Park, Kansas, Kissner is a leading, vertically integrated bulk salt, specialty salt and evaporated salt producer focused on governmental and commercial customers across the United States and Canada.
The deal is expected to close in March.
"We're very excited about the growth opportunities that lie ahead of Kissner in light of our new partnership with SCIH," said Mark Demetree, Executive Chairman and CEO of Kissner. "We look forward to continuing to expand Kissner's capabilities to deliver high quality products and service to our customers."
The company owns the so-called “salt city” beneath Detroit and a mine in Lyons, Kansas, an evaporated salt business (US Salt), which has a refinery in Watkins Glen, New York, three salt production facilities co-located on potash mines in Western Canada, multiple packaging facilities, and a network of distribution and storage terminals located throughout the United States.
"This investment represents another important step in our plan to build a diversified industrial conglomerate," said James Fordyce, Co-CEO of SCIH. "We plan to expand on the success created by Kissner's management team over a long-term horizon."
Stone Canyon Industries Holdings is a global industrial holding company designed to "buy, build and hold" for the long term, with a strategy focused on acquiring and operating market leading companies.