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Instone, Brookstone Partners Portfolio Company, Completes Acquisition of Northeast Masonry Distributors

March 3, 2020 GMT

NEW YORK & PLAINVILLE, Mass.--(BUSINESS WIRE)--Mar 3, 2020--

Instone, a portfolio company of Brookstone Partners, acquired Northeast Masonry Distributors (“NMD”) of Plainville, MA in November 2019.

Instone is the premier wholesale distributor of manufactured and natural thin veneer stone in the United States. By acquiring NMD, it now provides quality products for both the horizontal and vertical applications. NMD is the largest wholesale distributor of Natural Stone for landscaping in New England.

Jim Palatine, GM of NMD, believes: “becoming part of Instone represents the next big step for NMD’s growth. We couldn’t be more excited to be part of a larger organization that expands our product offering and enhances service.”

Gordon Strout, CEO of Instone, remarked: “After spending years searching for the ‘right’ business to acquire, it was exciting to meet Jim and his team and realize we finally found a high quality team and business that created exceptional synergies with Instone, just outstanding.”

Kevin Grotke, GM of Instone, said: “We are excited to bring these two powerful organizations together to create the strongest distribution platform in the industry.”

Michael Toporek, Brookstone’s Managing General Partner, said: “We are thrilled to put together two companies that have such compatible cultures focused on exceeding customer expectations.”

About Instone

Instone is the premier distributor of thin veneer stone, both natural and man-made, in the USA. Through its recent acquisition of NMD it now provides products for both the horizontal and vertical planes. For more information, visit www.instoneco.com or www.northeast-masonry.com.

About Brookstone Partners

Founded in 2003, the New York-based firm prides itself on “Building Businesses, Investing in People.” The firm creates investment situations where its goals as investors are directly aligned with those of management and is one of the key factors to its success. Brookstone calls this “goal congruency.” As soon as the firm commits its capital, they expect to begin working aggressively with management to build the company for the benefit of all stakeholders.

Key points about the firm’s investment criteria and strategy:

For more information, visit www.brookstonepartners.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20200303005225/en/

CONTACT: Matt Lipman, Brookstone Partners

(212)-302-0699

Lipmanm@brookstonepartners.com

KEYWORD: NEW YORK MASSACHUSETTS UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: OTHER CONSTRUCTION & PROPERTY RESIDENTIAL BUILDING & REAL ESTATE CONSTRUCTION & PROPERTY LANDSCAPE

SOURCE: Brookstone Partners

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PUB: 03/03/2020 08:30 AM/DISC: 03/03/2020 08:30 AM

http://www.businesswire.com/news/home/20200303005225/en