We are making the appropriate investment in our people, our plant, and equipment to serve this market.
Oolitic, Ind. (PRWEB) September 10, 2015
Indiana Limestone Company (ILCO) continues to capitalize on delivering on its aggressive growth strategy with a product development focus. The company has introduced Thin Veneer stone in early 2015 and now is launching 2” Tread stair products in support of the continued commercial and residential market recovery.
For years, the North American markets had settled in many applications for man-made faux-stone products. Among builders, designers, architects and homeowners, an appetite for the beauty and permanence of natural stone went unmet by this man-made stone or other manufactured substitutes. Indiana Limestone developed its Thin Veneer product line in response, delivering a new capability with greater product options along with an improved market value for coveted natural stone.
Rapid adoption of Thin Veneer nationwide has accelerated and sustained the company’s growth this year, testifying not only to the product’s appeal as a design element, but also to its advantages as a construction material. Far lighter than full-bed stone, it’s easier and less expensive to ship and install.
Said Tony Parenza, ILCO regional manager for the U.S. midwest, southwest and west, “Natural stone hadn’t been available in this form for several years. Now we can give homeowners, builders and architects other material options. Thin Veneer is already very popular across the country, and the interest keeps growing.”
Another well-received offering is ILCO’s 2” Treads, real-stone steps that impart visual distinction to the entrances of residences and other structures. The product is also used for stone caps.
As with Thin Veneer, forceful market interest created a strategic opportunity – and ILCO responded with a superb product that could be delivered much more quickly than other brands. In order to do so, the company made substantial investments in equipment and training.
“Our customers were calling to say they needed this material,” said Dan Ouellette, ILCO’s eastern regional manager. “We’re really excited about getting into the 2” Tread market, answering this demonstrated need with a quality product and a new service model.”
Tom Quigley, Indiana Limestone CEO, said interest in 2” Tread has been especially strong, with new demand coming from the New England markets.
“Again, we are making the appropriate investment in our people, our plant, and equipment to serve this market,” Quigley said. “We’re expecting a substantial uptick in sales from this new specialty. We’ve also been making great headway in the active New York metro market, and in persuading architects and designers to enrich their buildings with our stone.”
ILCO, an iconic Hoosier firm with roots reaching back to the 19th century, was acquired in May 2014 by Wynnchurch Capital, Ltd., Chicago, Since then, ILCO doubled its excavation figures, rehired many former employees and added dozens of new jobs. This notable revival was recognized recently with a Turnaround of the Year Award in the Construction & Building Services from Global Mergers & Acquisitions Network (Global M&A).
Said John Hatherly, Managing Partner at Wynnchurch, "ILCO has thrived thanks to visionary and innovative leadership – and the hard work of the management team and employees. Our partnership has been mutually beneficial to Indiana Limestone and Wynnchurch."
More information on Indiana Limestone Co. is available at indianalimestonecompany.com.
About Wynnchurch Capital, Ltd.
Wynnchurch Capital, Ltd., headquartered in the Chicago suburb of Rosemont, Illinois with offices in Michigan and Toronto, and affiliates in New York City, Los Angeles, and Montreal, Canada, was founded in 1999 and is a leading middle-market private equity investment firm. Wynnchurch's strategy is to partner with middle market companies in the United States and Canada that possess the potential for substantial growth and profit improvement. Wynnchurch Capital manages a number of private equity funds with $2.3 billion under capital management and specializes in management buyouts, recapitalizations, corporate carve-outs, restructurings and growth capital. For more information, please visit http://www.wynnchurch.com.
About Indiana Limestone Co.
Indiana Limestone Company is unmatched as the premier supplier of Indiana Limestone in a range of beautiful and lasting building products. Founded in 1926 (with predecessor firms that had been quarrying limestone since the mid-1800s), ILCO today remains the provider of choice for this internationally renowned natural stone. Throughout an illustrious history in which its stone has made such iconic structures as the Empire State Building, National Cathedral, and the Pentagon, ILCO has reliably provided the highest quality products and services carefully tailored to the needs of the market with an environmental, natural focus.