CSL Capital Management Announces Sale of PyraMax Ceramics, LLC to Imerys S.A.
HOUSTON--(BUSINESS WIRE)--A consortium led by CSL Capital Management, LLC announced today it has sold PyraMax Ceramics, LLC (“PyraMax”) to Imerys S.A. for a total consideration of USD 235 million and additional payments of up to USD 100 million, subject to meeting certain industrial and commercial performance criteria. PyraMax is in the final stages of completing a state-of-the-art, 500 million pounds per year manufacturing facility comprised of two production lines located in Wrens, GA.
Imerys’ acquisition of PyraMax, added to its current production capacity, will significantly enhance its ability to supply high-quality ceramic proppant to the fast-growing North America non-conventional oil and gas market.
Charles S. Leykum, Founder of CSL Capital Management and Chairman of PyraMax Ceramics, LLC, said “Our management team has done a great job building PyraMax from a greenfield project to near commercial operation. We are excited to work with Imerys, a well-established player in this sector, and think the combination will create a robust supplier to the proppants industry. We wish Don and his team continued success.”
Don Anschutz, President of PyraMax Ceramics, LLC, said “CSL has been an invaluable partner and resource for us and we enjoyed working with them. Their experience building companies and vision for PyraMax to be a state-of-the-art ceramic proppant plant was essential to our success. Joining Imerys will accelerate that vision and give us access to expertise and resources that will increase our ability to anticipate and exceed our customers’ expectations.”
About CSL Capital Management, LLC
CSL Capital Management (“CSL”) is a leading growth equity firm with a value oriented investment strategy focused on energy businesses in the U.S. and internationally. With offices in Houston, TX and Greenwich, CT, the CSL team has deep sector expertise in the energy industry and takes a very hands-on approach to investments; it relies on fundamental growth and strategic thinking, rather than financial engineering, to generate success. Through several investment vehicles, CSL has raised in excess of $650 million of equity capital and commitments.
About Imerys S.A.
Imerys is the world leader in mineral-based specialty solutions for industry with €3.9 billion revenue and 16,000 employees. Imerys transforms a unique range of minerals to deliver functions (heat resistance, mechanical strength, conductivity, coverage, barrier effect, etc.) that are essential to its customers' products and manufacturing processes.
Imerys SA -- Financial & Corporate Communication
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