Valley Minerals

Valley Minerals
Industry: Industrial Products & Services
Close year: 2022
Project: Sell-Side M&A
Client: Private Equity Group
Transaction: Sale to Strategic

Hennepin Partners Advises Valley Minerals on its Acquisition by Mississippi Lime Company


Bonne Terre, MO – Valley Minerals, LLC (“Valley Minerals” or the “Company”), a portfolio company of Lewis & Clark Capital, has been acquired by Mississippi Lime Company, a portfolio company of HBM Holdings. Hennepin Partners acted as Valley Minerals’ exclusive financial advisor and Stinson LLP served as legal counsel. The transaction closed on September 7, 2022, and terms were not disclosed.

Headquartered in Bonne Terre, MO, Valley Minerals is a leading manufacturer of dolomitic lime for steel producers in the South-Central and Midwest regions of the United States. Since being acquired by Lewis & Clark Capital in 2010, Valley Minerals has seen tremendous revitalization and growth due to the experienced and talented management team, investments from Lewis & Clark Capital, favorable stone chemistry, and proximity to the most active steel-producing region of the country.

“It has been a privilege to partner with Ed Banfield, Valley Minerals CEO and the entire Valley Minerals team,” said Tim Spihlman, a Managing Director at Lewis & Clark Capital. “The leadership team has transformed the Company into a safe and efficient operation and the significant increase in capacity over our investment period has allowed the Company to serve its customer base exceedingly well. We are excited about the next chapter for the employees, partnering with an experienced operator in Mississippi Lime to continue to support the industry and drive the Company forward. We appreciate the work and expertise of Hennepin Partners in this process. They assisted us in many ways to drive value and assure a timely closure of the transaction.”

Paul Hogan, President and CEO of Mississippi Lime Company, said “We have been working on plans for a modern dolomitic production facility to support our steel market business for several years. Valley Minerals has products, production processes, and applications we’re familiar with, which should make its transition to Mississippi Lime smooth and seamless.” The acquisition will enable Mississippi Lime to expand on its commitment to better serve the growing next-generation steel production market in the Central U.S. and its customer base. Mississippi Lime also announced it plans to significantly invest in the new facility and replace the plant’s rotary kiln with a new, energy-efficient and sustainable vertical kiln.