US speciality minerals supplier Prince Minerals Inc. has strengthened its position in the US foundry market through the acquisition of IGC Technologies LLC.
Prince Minerals, owned by Palladium Equity Partners II LP, is IGC’s principal supplier of raw materials and the companies have worked with each other for many years. Terms of the acquisition were not disclosed. IGC is the leading producer of iron oxide-based anti-veining agents for the foundry industry worldwide.
The acquisition provides Prince Minerals broader exposure to the foundry industry, particularly in the growing Asian and Latin American markets.
“Combining Prince with IGC creates significant...