Kissner Group Holdings LP, and its owners Metalmark Capital Holdings LLC and Silvertree-KMC II LP, a venture between Silverhawk Capital Partners and Demetree Salt, LLC, completed its $2 billion sale of Kissner to Stone Canyon Industries Holdings LLC on Mar. 16, 2020.
The acquisition was funded with a $900 million first lien term loan led by Morgan Stanley, Bank of America, BMO Capital Markets, Goldman Sachs, KKR Capital Markets, and Citizens Bank; $200 million in a second lien term loan led by Canyon Partners, LLC; and $1 billion of equity from SCIH and Kissner Management and their affiliates. Sellers include Metalmark Capital Holdings LLC and Silvertree-KMC II LP, a venture between Silverhawk Capital Partners and Demetree Salt, LLC.
Kissner is a vertically integrated bulk salt, specialty salt and evaporated salt producer focused on governmental and commercial customers across the U.S. and Canada. Stone Canyon Industries Holdings 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. Metalmark Capital is a private equity firm that seeks to build long-term value through active and collaborative partnerships with business owners, founders and executives.
Davis Polk & Wardwell LLP and Finn, Dixon & Herling LLP represented Metalmark Capital and Kissner Group Holdings LP with a team led by
W. Soren Kreider IV,
Ethan R. Goldman,
Joshua J. Micelotta,
Veronica M. Wissel,
Susan D. Kennedy,
Jonathan B. Brown.
Bennett Jones LLP acted for Metalmark Capital and Kissner Group Holdings LP with a team led by
Joel Wiens (Former),
Gibson, Dunn & Crutcher LLP represented Stone Canyon Industries Holdings LLC.
Torys LLP represented Stone Canyon Industries Holdings LLC with a team led by