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November 15, 2011

Phoenix Capital Resources Closes Transaction

New York, NY, November 15, 2011 ” Phoenix Capital Resources acted as the exclusive financial advisor to Ennstone, Inc. in conjunction with its acquisition by Bardon, Inc., d/b/a Aggregate Industries Management, Inc., a subsidiary of publicly-traded Holcim Ltd (SWX:HOLN). The specific terms of the transaction are undisclosed.

Phoenix Capital Resources was engaged by Ennstone to explore strategic alternatives, including a potential sale of the Company. Ennstone was seeking a liquidity event after outperforming its restructuring plan following its emergence from Chapter 11 bankruptcy protection in March of 2010. The transaction was led by Michael E. Jacoby, Adam S. Cook and Donald J. Cunningham.

“As with most special situations transactions, the process was challenging at times, but a successful outcome was achieved for Ennstone’s constituents and for Aggregate Industries, alike,” said Adam Cook, Managing Director and Head of Investment Banking at Phoenix Capital Resources.

Ennstone, headquartered in Falmouth, VA, is a regional leader in the Mid-Atlantic aggregates and ready-mix concrete business. Ennstone serves commercial, residential, and industrial projects, and individual homeowners in the Washington, DC and Richmond, Virginia areas, and in parts of Maryland and West Virginia.

Aggregate Industries Management, Inc. is a leading provider of aggregate and construction materials to markets in 16 US states and 300 cities.

David Swan, Partner at McGuireWoods LLP, served as Ennstone’s counsel for the transaction, while Christina Groll at Holland & Hart LLP advised the buyer.

About Phoenix

For over 25 years, Phoenix has provided smarter, operationally focused solutions for middle market companies in transition. Phoenix Capital Resources provides seamless investment banking solutions including M&A advisory, complex restructurings and capital placements. Phoenix Management Services provides turnaround, crisis and interim management, specialized advisory and operational due diligence services for both distressed and growth oriented companies. Proven. Results.®
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