Resilience Capital Partners, a Cleveland-based private equity firm, has formed platform company North Coast Minerals to invest in the debt, mezzanine and equity of industrial minerals, mining, natural resources and related businesses.
The strategy of North Coast Minerals will be led by chairman Michael Lundin, currently operating partner at Resilience Capital Partners and former chief executive of Oglebay Norton.
"Although in a cyclical downturn, we believe operations properly capitalized and strategically located can be valued assets. As we look to build this company we will look for companies that can grow and be expanded as the global economy recovers," says Lundin.
The North American mining and natural resource marketplace remains highly fragmented and consists of hundreds of entities throughout the country serving the industrial, agricultural, building materials, construction and environmental end markets.
"The capital spending and working capital required in this industry tends to be high and in this challenging economy capital is not readily available. We are fully aware capital is a requirement to properly manage these assets and we will look to make capital available to owners and managers looking for a quality strategic investment partner," adds Steven Rosen, co-chief executive of Resilience Capital.
