Rock of Ages sold to Polycor
Rock of Ages, the signature name in granite, lasted for almost 150 years in various forms. It will now be a unit of Polycor, the Quebec based giant in the stone industry. The announcement was made last Friday. Polycor, backed by an investment fund, will buy Swensen Granite who has owned all the shares of Rock of Ages since the company went private in 2010. The price of the transaction was not revealed, but the company said that the combined sales of the companies would exceed $150,000,000. Since the last public record of Rock of Ages dates from the date of the privatization of the company, it is hard to estimate a value on the transaction. Hoovers, an investment site, estimates the sales of Polycor in the $60,000,000 range.
Rock of Ages started life around 1885 with various names; it took an advertising agency back almost one hundred years ago to come up with the name: Rock of Ages. A first in an industry where a stone was a stone. Swensen was more or less born at the same time. While Rock of Ages stayed mostly in the monument business, Swensen profited immensely from the Highway building craze of the 1950’s and 60’s by going into the curbing business.
In the last couple of years, when the numbers of the company were public, profitability of the companies was low.
Polycor sold its Stanstead operation to Rock of Ages a couple of years ago. At that time it was bought by a French company, Rocamat, and later the company was bought back by Polycor. When it was announced, the deal was supposed to cre
see Market, page 15
Rock of Ages is deeply integrated in Stanstead.