Excell Materials
Excell Materials, Inc.
Fund: III
Investment Date: October 2003
Exit Date: February 2007
Headquarters: Pittsburg, PA

Excell Materials (“Excell”), headquartered in Pittsburgh, operates in three primary business segments. Excell’s first line of business is the recovery and subsequent resale of metals contained in slag generated by stainless steel producers. Excell’s second business segment concentrates on the sale of the residual aggregate to a wide variety of end users in the commercial turf/ agriculture and cement markets. Excell also provides services to steel makers, consisting of slag handling, mobile equipment rental, storage facility rental, and other slag-handling operations. Excell maintains operations in the United States, Canada, South Africa and Brazil.

Merit provided subordinated debt and common stock to finance the acquisition by a group of experienced industry executives.