Prince Mineral Holding Corp., New York, NY, a distributor of specialty mineral products and additives used in niche industrial applications, has acquired Lufkin, TX-based Grinding and Sizing Co. LLC, a distributor and wholesale manufacturer of drilling fluid additives used in the oilfield services industry. Terms were not disclosed.
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Prince is a portfolio company affiliated with Palladium Equity Partners LLC, a private investment firm with a special focus on investments in the U.S. Hispanic marketplace.
Grinding and Sizing Co., through its three primary facilities in Lufkin and Houston, TX, manufactures specialty additives primarily for the drilling fluids segment of the petroleum industry. Under the new ownership, GSC intends to maintain all commercial, administration and operational personnel.
“Our goal will be to add products and services through familiar channels,” said Willson Ropp, chairman and president of Prince.