South Jordan-based Headwaters Inc. announced Thursday that it has completed the acquisition of Eldorado Stone LLC, an architectural manufactured stone company based in San Marcos, Calif.
The Utah energy technologies company acquired Eldorado from Graham Partners, a middle market private equity firm, and members of management for an estimated $202.5 million, plus an excess working capital adjustment of $8 million. The acquisition diversifies Headwaters' operations, the company stated, and will allow it to expand the use of environmentally friendly coal combustion materials in building products.
Eldorado will be integrated into Headwaters' coal-based construction materials operations.