TorQuest takes control of Polycor in stone company merger
Canadian private equity firm TorQuest Partners has acquired majority control of Polycor Inc, a Québec City-based natural stone producer, for an undisclosed amount. The deal, done alongside of TorQuest's co-investors and PNC Mezzanine Capital, was part of a merger of the company with U.S.-based Swenson Granite Works and its subsidiary Rock of Ages. The merger creates "the largest dimensional stone company in North America," TorQuest Partner Alan Lever said. Polycor said it expects to show post-deal revenue of over US$150 million per year. TorQuest made the investment via TorQuest Partners Fund III. In June, the firm closed its fourth mid-market fund at $925 million.
16 September 2016•3 mins read
