April 15, 2022
Ancor Capital Partners’ Portfolio company, LSC Environmental Products, Acquires Mat, Inc.
Southlake, Texas — Ancor Capital Partners’ portfolio company, LSC Environmental Products (“LSC” or the “Company”), announces the acquisition of Mat, Inc. (“Mat”) with facilities in Floodwood, Minnesota and Lenoir, North Carolina. The acquisition will augment LSC’s already strong position as a global leader in spray-applied environmental coatings and enhances LSC’s ability to address the complex global issues related to soil stabilization, revegetation, remediation, and reclamation.
The combined organizations will continue to do business as LSC Environmental Products, LLC and will fully welcome 100% of Mat’s team. Joe Donze, CEO of LSC, will continue to oversee the expanded organization while Patti Karpik, President of Mat, will join LSC’s dynamic executive leadership team.
The new organization will bring together two proven industry innovators with LSC having pioneered spray-applied daily cover in the Solid Waste industry and Mat, Inc. developing the Erosion Control industry’s first spray-applied Bonded Fiber Matrix product. Mat’s entire product portfolio, including its high-performance product lines of Spray Guard®, Soil Guard®, and Flex Guard®, will complement LSC’s robust family of environmental solutions, which are utilized globally in the Solid Waste, Erosion Control, Remediation, Revegetation, and Emergency Response industries. Joe Donze, stated, “The acquisitions will immediately strengthen our supply chain, customer relationships, distribution channels, and product offerings.”
“This is the second add-on acquisition LSC has completed since Ancor acquired the Company in May 2019 and we are excited to welcome Mat into the LSC family”, said Ray Kingsbury, Managing Director at Ancor Capital Partners. He continued, “the acquisition of Mat, combined with the acquisition of Phoenix Paper Products in December 2019, provides LSC with increased supply chain reliability, distribution channel expansion, and further solidifies LSC’s position as a leader in the Environmental Products industry.”
About Ancor Capital Partners:
Ancor Capital Partners is a Dallas-based private investment firm with 25+ years of experience investing in lower middle market companies. Ancor is focused on helping companies reach their next level of growth. Ancor’s experienced investment team has the acumen, expertise, and resources to invest wisely in existing successful companies through private equity buyouts. As a seasoned operating partner, Ancor works to operationally optimize businesses, maximize growth opportunities, and instill a lasting culture. With a proven track record of over 50 successful acquisitions to date, Ancor targets investments in the healthcare, industrials, consumer staples, and emerging industries. For more information, please visit: www.ancorcapital.com.
About LSC Environmental Products:
LSC is a global manufacturer of premier products and equipment designed to address the persistent environmental challenges of soil stabilization, revegetation, odor, land reclamation, waste cover, toxic remediation, and dust.
About Mat, Inc.:
Mat manufactures high-quality Erosion Control and Revegetation products for hydraulic application, and a wide range of innovative, non-woven, blankets, and pads for a variety of specialty markets.