Mascarene Partners Acquires Iron Pillar United Mining Group

NEW YORK--(BUSINESS WIRE)--Mascarene Partners ("Mascarene"), a middle-market infrastructure investment platform focusing on North American transportation and industrial businesses, today announced that it has partnered with management to acquire General Drilling Inc. ("GDI") from Fred Weber Inc. ("Fred Weber") and Venture Drilling East d/b/a Two Eight Southeast ("Venture Drilling East"), combining the two businesses to form Iron Pillar United Mining Group ("Iron Pillar" or the "Company"). The transaction closed on May 14, 2026.

Iron Pillar, headquartered in Conyers, Georgia, provides drilling services to aggregate producers and quarry owners across the Southeast and Midwest. The combination brings two long-standing specialists together under a single brand and creates a scaled drilling services platform serving the U.S. aggregates industry.

Doug Weible will serve as Chief Executive Officer of Iron Pillar and continues as Chief Executive Officer of Fred Weber. Brent Taylor will serve as President of Iron Pillar. Fred Weber and the former owners of Venture Drilling East each retain an ownership position in Iron Pillar alongside Mascarene.

"We are pleased to be partnering with Doug, Brent, and the broader Iron Pillar team. Both General Drilling and Venture Drilling East have established strong reputations with their respective customer bases, and the combination creates a platform with the scale and capabilities to serve aggregate producers and quarry owners across the U.S.," said Rob Creighton, Partner with Mascarene.

Doug Weible, CEO of Iron Pillar, commented, "Bringing General Drilling and Venture Drilling East together creates a scaled drilling services provider in the U.S. aggregates industry. Our customers want a partner who can deliver consistent quality across multiple geographies, and the combined platform positions Iron Pillar to do exactly that. We are pleased to have Mascarene as our long-term partner in that effort."

Brent Taylor, President of Iron Pillar, added, "Our customers are the foundation of our business, and that does not change under the Iron Pillar banner. As we expand the scope of our operations, our priority remains delivering superior service on every job. The partnership with Mascarene provides the resources to grow our footprint while maintaining that focus."

Wes Dick, Managing Partner of Mascarene, added, "Iron Pillar fits squarely within Mascarene's investment strategy. The business is highly asset-intensive, its services are essential to ongoing aggregate production, and we see a clear path to growth through both organic execution and additional acquisitions. We look forward to supporting the team as they continue to grow the business."

Varagon Capital Partners, L.P. provided financing for the transaction. McGuireWoods LLP served as legal counsel to Mascarene. Butcher Joseph & Co. served as financial advisor to Fred Weber, and Forge West Consulting served as financial advisor to Venture Drilling East.

About Mascarene Partners Mascarene Partners is a middle-market infrastructure investment platform focusing on North American transportation and industrial businesses. For more information, visit www.mascarene.com.