GranQuartz, Pearl Abrasive Gets New Owner
LITTLE ROCK, Ark. – The Stephens Group LLC, a private investment firm here, is the new owner of industry distributor GranQuartz.
Stephens Group finalized the acquisition last week of Pearlman Enterprises Inc., the parent company of GranQuartz and Pearl Abrasive. Terms of the transaction were not disclosed.
Pearlman, headquartered in Norcross, Ga., develops and distributes supplies, tools, and equipment used in the fabrication and maintenance of hard surfaces.
GranQuartz serves more than 8,000 U.S. stone fabricators, tile installers and concrete and monument professionals; Pearl Abrasive offers abrasives and cutting tools to more than 5,000 distributor customers in construction and industrial end markets.
“We are extremely optimistic about the opportunities presented to us by this investment by The Stephens Group,” said Dan Davidenko, Pearlman CEO. “They know our industry extremely well, they have a focus on industrial distribution, and they understand how to help companies grow.
“We are really looking forward to partnering with Dan and the Pearlman team,” said Clay Hunter, managing director at The Stephens Group. “The GranQuartz and Pearl Abrasive brands are synonymous with quality, service and innovation, and as a result, they are clear market leaders with devoted and diverse customer bases.
“We are committed to supporting the continued growth of the business as it further penetrates its existing markets, enters new markets and introduces new products.”
Founded in 1933, Stephens Group is a family-owned private-equity and venture-capital firm involved in companies with exceptional management teams and high returns on invested capital in growing industries. Investments during the firm’s history include consumer and specialty retail, distribution, industrial products and services, healthcare, telecom, media and technology, communications, energy services and gas exploration and production and other industries.
“Because The Stephens Group is not a private-equity fund, their permanent and patient capital base allows them to focus on the very long-term and make decisions, at all times, that are in the best interests of Pearlman’s employees, customers and supplier partners” Davidenko noted. “We will be working closely with their team as we continue our efforts to be the most-trusted and -respected company in the industry.”
The Harbour Group, Pearlman’s previous owner, acquired Pearlman Enterprises Inc. in 2006, and added GranQuartz Holdings LLC in 2008. St. Louis-based Harbour also acquired Dimensional Tools Inc., Stone Tools Supply Inc. and the stone division of Somaca; last August, it also added Granite City Tool Co. of Waite Park, Minn.
