Freestone Partners, LLC is excited to announce its acquisition of assets from Indian Mill Construction Supply, LLC and Indian Mill & Lumber, LLC in partnership with management. The acquired assets were purchased by Indian Mill Holdings, LLC through its subsidiaries Indian Mill Plank, LLC and IM Real Estate, LLC.
Indian Mill is a manufacturer of wood scaffold plank products used by the industrial contracting and masonry markets. The company has two proprietary products using the company’s patented pinning process. Pin-Lok and Pin-Lam are green technology scaffold planks that permit the use of newer growth trees, combining three pieces of wood with multiple twisted screw pins to form a wood scaffold plank product that exceeds the capacity characteristics of solid sawn scaffold plank. Indian Mill produces solid sawn scaffold plank under the Dense Industrial 65 standard supported by third party inspection company Timber Products Inspection. In addition to wood scaffold plank products, the company has created unique plank tests that are used to verify a board’s ability to meet OSHA standards.
The board of Indian Mill appointed Tom Connolly as Chairman. Mr. Connolly has led several industrial businesses, including most recently Dan-Loc Bolt & Gasket, a former Freestone portfolio company. One of the selling shareholders, Dean Cook, will also continue as the company’s President.
“Freestone is excited to add Indian Mill to our portfolio of companies. The opportunity to foster growth in this company for the benefit of our customers, employees, vendors, and equity holders is one of Freestone’s objectives. We look forward to increasing our capabilities to better serve our industry.” said Mr. Connolly.
Headquartered in Houston, Texas, Freestone Partners invests in companies with $10 to $50 million in annual revenue with potential for substantial growth. Freestone seeks to partner with management teams and/or selling owners to help small to medium-sized businesses achieve their growth goals. Freestone’s investment philosophy states that value is created by focusing on a few fundamentals: a sound investment process, solid management, viable business strategies, and outstanding operating execution. We value more than the transaction – we value the people involved.