Mill Rock acquires graphite additives company

Private investment firm Mill Rock Capital has formed a new growth platform called Mill Rock Advanced Materials LLC focused on investments in the materials and industrial additives markets.

The company has also acquired Asbury Carbons, a supplier of natural and synthetic graphite for use in polymers and rubbers, paints and coatings, lubricants, specialty ceramics, friction products and insulation. 

“Graphite is a critical raw material in batteries, solar panels and wind turbines, as well as an additive in composite materials for lightweighting in aerospace and automotive applications,” a press release said.

Mill Rock has also appointed Gregg A Jones as Asbury chairman and CEO. According to the company, Jones was CEO of mining company EP Minerals. Noah Nichelson will remain president and COO. 

“Going forward, we will seek to accelerate growth through further investment in people, applications, processes and systems, as well as through selective acquisitions,” said Jones.

“Our industry is entering a growth phase in which differentiated graphite applications are in high demand, and Asbury is optimally suited to meet those needs,” added Nichelson.