American Securities Announces Fairmount Santrol IPO

NEW YORK, Oct. 3, 2014 /PRNewswire/ -- American Securities LLC, a New York-based private equity firm, today announced the completion of the initial public offering ("IPO") for FMSA Holdings Inc. ("Fairmount Santrol") (NYSE: FMSA).  

In 2010, affiliates of American Securities partnered with management and acquired a majority interest in Fairmount Santrol.  Headquartered in Chesterland, Ohio, Fairmount Santrol is a leading provider of high-performance sand and sand-based products used by oil and gas exploration and production companies to enhance the productivity of their wells.  The company also provides high-quality products, strong technical leadership and applications knowledge to end users in the foundry, building products, water filtration, glass, and sports and recreation markets.

Selling shareholders sold a total of 25,000,000 shares in the IPO, raising $400 million of proceeds.  The issue price was set at $16.00, which brings Fairmount Santrol's market capitalization to $2.6 billion.  The underwriters will have a 30-day option to purchase up to an additional 3,750,000 shares at the IPO price.

Matthew F. LeBaron, Managing Director at American Securities, commented, "We would like to congratulate Fairmount Santrol's management team on a successful IPO.  We have worked closely with Jenniffer Deckard and the rest of the company's management team to strengthen and grow the business.  Fairmount Santrol is currently experiencing high demand for its products and serves a diverse customer base.  This growth, as well as the company's strong commitment to environmental stewardship and to the three pillars of Sustainable Development: People, Planet and Prosperity, should position Fairmount Santrol well for continued long term success as a publicly-traded company."

Michael G. Fisch, President & CEO of American Securities, added, "Bill Conway, Chuck Fowler, and Jenniffer Deckard have each been terrific partners for us.  Each is a role model and culture creator, both within Fairmount Santrol and for the external communities about which they also care deeply.  American Securities is extremely proud of our association with them and the entire Fairmount Santrol management team."

Following the IPO, affiliates of American Securities hold a significant minority ownership position in Fairmount Santrol and its professionals continue to serve on the company's Board of Directors.

About American Securities
Based in New York with an office in Shanghai, American Securities is a leading U.S. private equity firm that invests in market-leading North American companies with annual revenues generally ranging from $500 million to $2 billion.  American Securities and its affiliates have approximately $10 billion under management.  American Securities is currently investing from its sixth fund.  The firm traces its roots to a family office founded in 1947 to invest and manage a share of the fortune created from the growth of Sears, Roebuck & Co in the early 1900s.  More information about American Securities can be found at www.american-securities.com.

SOURCE American Securities

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