Arriscraft International Approved for Sale to General Shale Brick
Goldsmith Agio Helms announced that the sale by its client, Arriscraft International Income Fund, of its underlying Arriscraft International manufactured stone, brick and natural stone masonry products business, has been approved by the its unit holders. Under the terms of the transaction, which was approved by more than 87 percent of voting unit holders, General Shale Brick Inc. will indirectly acquire the Fund's wholly-owned subsidiaries, Arriscraft International Limited Partnership and Arriscraft International Holdings (Canada) Inc., which respectively operate and hold the Arriscraft International business in Canada and the United States, for C$107 million plus an adjustment for non-cash working capital. Goldsmith Agio Helms, a leading investment bank to the middle market, facilitated the sale on behalf of Arriscraft.
The Fund manufactures stone products that replicate the physical properties of real stone while providing for more easy and cost-effective installation and use. General Shale manufactures and markets brick and stone products throughout the United States and is a wholly-owned subsidiary of Wienerberger AG, the largest brick company in the world. The sale closed on July 20, 2007.
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Arriscraft International is a subsidiary of General Shale Brick, Inc., the leading exterior building materials manufacturer in the United States. Learn more online at www.arriscraft.com.