Mill Rock Capital Forms Mill Rock Advanced Materials Platform and Acquires Asbury Carbons, Inc.
April 5, 2023
Mill Rock Capital has launched a new growth platform, Mill Rock Advanced Materials LLC, and concurrently acquired Asbury Carbons, Inc. from the Riddle family and Asbury's Employee Stock Ownership Plan. As part of the deal, Stephen A. Riddle invested in the company and will remain on the board; Mill Rock named Gregg A. Jones CEO and announced several senior hires to support growth and selective acquisitions; financial terms were not disclosed.
- Buyers
- Mill Rock Advanced Materials LLC, Mill Rock Capital
- Targets
- Asbury Carbons, Inc.
- Sellers
- Riddle family, Asbury Carbons Employee Stock Ownership Plan
- Platforms
- Mill Rock Advanced Materials LLC
- Industry
- Manufacturing
- Location
- New Jersey, United States
- Transaction Type
- Buyout
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