Indiana Limestone Featured in Finance Industry Award

OOLITIC, Ind. – The economic revival of Indiana Limestone Co. (ILCO) in the past year led to a recent honor for the firm’s owner.

ILCO announced today that Wynnchurch Capital Ltd. will receive the Turnaround of the Year Award in the Construction & Building Services from Global Mergers & Acquisitions Network (Global M&A).

Wynnchurch Capital, a leading middle-market private-equity firm focused on investments in niche manufacturing, distribution and business service companies, acquired ILCO in May 2014 after the limestone supplier and fabricator filed for bankruptcy protection.

In little more than a year, ILCO has doubled its excavation figures, rehired 120 of the company’s former stonecutters, and added 43 new jobs.
 
“We are truly honored by this award from Global M&A,” said John Hatherly, managing partner at Wynnchurch.  “We would like to take this moment to recognize Tom Quigley, CEO of Indiana Limestone, for his visionary and innovative leadership and the hard work of his team and employees.  

“Our partnership has not only been mutually beneficial to Indiana Limestone and Wynnchurch, but it has also been a positive for the state of Indiana.  That’s the kind of deal we like.”
 
“We are deeply honored to receive this special recognition,” Quigley added. “Wynnchurch has been a great partner with vision. This award is also about our employees and our customers – they have been essential contributors to this resurgence.”
   
Global M&A Turnaround Atlas Awards exclusively honor excellence in the best value-creating turnaround deals and outstanding firms from the international restructuring and special situations M&A industries.

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