Stone Canyon Industries Holdings Closes $1.8 Billion Investment

LOS ANGELES, June 18, 2019 /PRNewswire/ -- Stone Canyon Industries Holdings LLC ("SCIH") today announced that it has closed an equity offering of more than $1.8 billion. The new capital investment provides the recently formed global industrial holding company with the ability to acquire and operate market leading businesses in essential industries, and to execute its long-term "buy, build and hold" focus.

Proceeds of the capital raise will be used by SCIH to expand its operations by acquiring and building businesses in essential industries that provide mission-critical products and services to customers around the world. A portion of the proceeds were used by SCIH to acquire SCI Rail Holdings LLC, a leading global rail supplier, and will be used for the previously announced acquisition of Reddy Ice, subject to the satisfaction of the conditions to closing. SCIH will seek to build out industrial verticals in stable and mature industries that possess favorable economic dynamics with high barriers to entry; a fragmented industry poised to create or strengthen a market leader through consolidation; and an opportunity to build a substantial company that will make a difference.

Co-Founders and Co-CEOs Adam Cohn and Jim Fordyce said: "We appreciate the confidence in our long-term strategy shown by shareholders such as Ontario Teachers' Pension Plan, Public Sector Pension Investment Board, Mubadala Investment Company, Eldridge Industries, and The Olayan Group, as well as many prominent family offices, all of whom share our values of long-term growth in mission-critical global industries."

Gibson, Dunn & Crutcher LLP represented SCIH and Goodwin Procter LLP represented the Executive Leadership team of SCIH.

About Stone Canyon Industries Holdings

Stone Canyon Industries Holdings ("SCIH") is a global industrial holding company designed to "buy, build and hold" for the long term, with a strategy focused on acquiring and operating market leading companies in essential industries. SCIH companies operate in essential industries that provide mission-critical products and services to customers around the world. SCIH seeks to build out industrial verticals in stable and mature industries that possess favorable economic dynamics with high barriers to entry; a fragmented industry poised to create or strengthen a market leader through consolidation; and an opportunity to build a substantial company that will make a difference. For more information, please visit www.scihinc.com. 

SOURCE Stone Canyon Industries Holdings LLC

Related Links

http://www.scihinc.com

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