mining area

Transaction Experiences

United Central Industrial Supply Recapitalized By The Riverside Company

UC

United Central is the market share leader in the estimated $1 billion, highly fragmented, North American coal mine supply market. It provides a “one-stop-shop” with the largest offering of products including over 43,000 SKU’s of roof control, conveyor systems, safety equipment, mining bits, oil products, and other general mine supplies from its 17 branch warehouse locations across the U.S. and Canada. Over the last thirty years, United Central has developed organically and through the acquisition of seven coal supply distributors located around the country

CHS

With over $1.6 billion under management, Code Hennessey & Simmons is regarded as one of the most successful private equity firms in the United States. Code Hennessey, headquartered in Chicago, proactively makes controlling ownership investments in established middle market companies across a range of industries, with a strong track record in distribution businesses.

Riverside

The Riverside Company, with offices in New York, Cleveland, Dallas, and San Francisco, is a leading private equity firm investing in premier companies at the smaller end of the middle market. Managed by a small group of seasoned partners, the firm has acquired 87 companies since its inception in 1988, representing approximately $1.3 billion of equity capital. The firm is known as one of the industry’s most active acquirers, having bought twenty-two companies since the beginning of 2003.

United Central Industrial Supply Company, LLC, (“United Central”), the leading distributor of underground consumable coal mining supplies in North America, announced that it has been recapitalized by The Riverside Company, a leading private equity group based in New York City. Additional capital was supplied by United Central Management, Antares Capital Corporation, and Brown Brothers Harriman & Co. This transaction is the successful culmination of an initiative led by Bigelow LLC to provide a value-maximizing liquidity event for Code Hennessey & Simmons, LLC and other significant shareholders, while simultaneously providing ongoing management the opportunity to find the best partner with significant growth capital to fulfill management’s growth plan.

“Partnering with The Riverside Company adds significant strategic and financial resources which will allow United Central to continue its growth strategy together with intelligent add-on acquisitions. This is the same strategy we have employed for over ten years. Together with Code Hennessey & Simmons we were able to build an organization of significant sustaining value, and we plan to grow it under The Riverside Company’s majority ownership.” Darrell Cole, President United Central

Bristol, Virginia

has been acquired by

New York, NY

The undersigned acted as M+A advisor to United Central Industrial Supply Company, LLC.