Stone Panels (www.stonepanels.com) manufactures a proprietary wall cladding system of high quality natural stone lite-weight composite panels and stone veneers and is a world leader in design and innovation for commercial construction applications throughout North America, Europe and the Pacific Rim. The Company’s unique stone panelized system, StoneLite®, is specified by architects and customized for each job, with inherently high-value design characteristics, manufacturing processes, and timely delivery.
Thompson Street Capital Partners (www.tscp.com) is a St. Louis-based private equity firm that invests in service, distribution and manufacturing businesses via recapitalizations, management buyouts, corporate divestitures and family businesses in transition. Founded in 2000, Thompson Street has managed more than $800 million in private equity capital and is currently investing its third fund.
Stone Panels, Inc. (“Stone Panels” or the “Company”) of Coppell, Texas, announced that it has been acquired by Thompson Street Capital Partners (“Thompson Street”), of St. Louis, Missouri. This transaction is the successful culmination of an initiative led by Bigelow LLC on behalf of Stone Panels and its majority investor Metapoint Partners, LP (“Metapoint”), to proactively seek out the best new majority investor for the Company.
“We are proud to have been part of building Stone Panel's rich legacy, offering a unique alternative to traditional dimensional stone in the commercial construction market. We look forward to following management's continued success as a market leader.” Keith Shaughnessy, CEO Metapoint
Because of its consistent growth and success in building Enterprise Value through several construction cycles, Stone Panels represented a ten-year investment by Metapoint.
“Stone Panels has grown and enjoyed great success under the current management team’s leadership. There is tremendous opportunity in front of our Company and we are confident that a partnership with Thompson Street will allow us to capitalize on that opportunity, better serve our customers and help us navigate the challenges of a growing business. I thank our long-standing investors, Metapoint Partners, for their support and guidance to help us get to where we are today…the leader in our niche.” Tim Friedel, President and CEO Stone Panels, Inc.