HWI Acquired by Platinum Equity
HarbisonWalker International (HWI) has signed an agreement to be acquired by Platinum Equity, a global investment firm operating companies in a broad range of business markets. The acquisition plan ensures HWI’s continued growth and leadership in refractory products and services. The transaction is expected to be completed in the first half of 2023, subject to customary closing conditions and regulatory approvals.
In July, Platinum Equity announced plans to acquire Imerys SA’s High Temperature Solutions business (HTS), a provider of refractory solutions serving more than 6,000 customers primarily in Europe and Asia, in a transaction that is expected to close by the end of 2022. Once both acquisitions have been completed, HWI and HTS will combine into a global business with increased reach and scale.
“HarbisonWalker has built an impressive organization, and we have deep respect for the company’s legacy, culture, and commitment to serving its customers. We are excited to continue investing in its growth. HWI’s presence in North America complements HTS’s business in Europe and Asia,” said Platinum Equity partner Louis Samson. “Their product portfolios are also highly complementary and will create a comprehensive, well-rounded offering of brick and powder-based refractories for a global customer base. We expect the combination to immediately open up new avenues for growth on both sides.”
Image: Platinum Equity partner Louis Samson.