ST. LOUIS, MO — July 2026 — ButcherJoseph & Co. (“ButcherJoseph”), a leading middle-market investment bank specializing in M&A and employee ownership transactions, is pleased to announce that it advised Fred Weber Inc. (“Fred Weber”) on the majority sale of General Drilling Inc. (“General Drilling”) to Mascarene Partners backed Iron Pillar United Mining Group (“Iron Pillar”). Iron Pillar was formed out of the combination of two businesses; General Drilling and Venture Drilling East d/b/a Two Eight Southeast (“Venture Drilling East”).

For more than 50 years, General Drilling has provided safe, reliable and expert solutions to the blast-hole drilling needs of stone quarries.

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.

Doug Weible 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.”

Robert Reavis, Director at ButcherJoseph & Co., said, “This transaction allows General Drilling to combine with a strong strategic partner in Venture Drilling East while providing a great outcome for Fred Weber. We were proud to support the team through this process.”

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

About General Drillin Inc.
General Drilling Inc., headquartered in Fishers, Indiana, has spent more than 50 years providing safe, reliable and expert blast-hole drilling services to stone quarries. The Company operates a fleet of more than 30 track- and truck-mounted drill rigs, serving quarry customers across Indiana, Kentucky, western Ohio, eastern Illinois and Northern Kentucky.

About Fred Weber
Fred Weber, Inc. is a full­-service construction materials expert headquartered in Maryland Heights, Missouri.  The Company supplies and delivers various grades of crushed stone, sand, asphaltic concrete as well as a wide range of surface and underground mining services.

About ButcherJoseph & Co.
ButcherJoseph & Co. is a boutique investment banking firm specializing in sale transactions to strategic and financial buyers, employee ownership transactions (ESOPs), capital advisory (debt & equity), valuations and fairness opinions and ESOP strategic consulting. ButcherJoseph is headquartered in St. Louis with a presence in Austin, Charlotte, Chicago, Miami, Philadelphia, Scottsdale, and Washington, D.C.

ADDITIONAL RESOURCES