Displaying items by tag: Platinum Equity

US: Calderys-subsidiary HWI has highlighted upgrades it has undertaken in 2023. This has included upgrading plant production software, increasing capacity at the White Cloud plant in Michigan, the Lowellville plant in Ohio and the Thomasville plant in Georgia, and adding new equipment at sites in Ohio and Missouri. Additional investment projects are planned for 2024.

Ross Wilkin, Calderys Senior Vice President of Americas, said, "In less than a year under new ownership and since combining with Calderys, we've successfully integrated our Americas operations with the former Calderys operations in the US and in Brazil, enhanced our products and services portfolio for customers, and completed massive investments in our manufacturing facilities. We are well-positioned for the future."

Private equity investment company Platinum Equity completed its acquisition of Calderys from Imerys in January 2023. It then purchased HWI in February 2023.

US: HarbisonWalker International has unveiled its new redesigned branding. The refractories supplier says that the new brand identity reflects it standing as the North American arm of Calderys Group. The two companies merged following their acquisition by Platinum Equity in 2022.

Calderys Group president and CEO Michel Cornelissen said “The new visual identity of HWI, as a member of Calderys, is a significant step on our journey to form a unified business that incorporates the best of both brands to create a global high-growth leader. We have undertaken this exercise with thoughtful intention to preserve the legacy of the HWI brand in the Americas, while reflecting the global stature of the Calderys brand.”

France: Private equity investment company Platinum Equity has completed its acquisition of Calderys from Imerys. It announced in July 2022 that it had agreed to pay around Euro930m to buy Imerys’ High Temperature Solutions business (HTS). Michel Cornelissen will remain as the president and chief executive officer of the refractory manufacturer.

In December 2022 Platinum Equity said that it has signed a definitive merger agreement to buy HarbisonWalker International (HWI), a supplier of refractory products and services in North America. the move is intended to create a global refractories supplier. The HWI deal is expected to complete in the first half of 2023 subject to closing conditions and regulatory approval.

US: Investment firm Platinum Equity has concluded a deal to acquire refractories producer HarbisonWalker International (HWI).

HWI chair CEO Carol Jackson said “This is excellent news for our employees, customers, and communities. Platinum Equity supports our intent to continue driving HWI forward into an unprecedented new era of growth. Over the past several years in North America and throughout our global operations, we’ve built operational excellence, differentiated ourselves through our supply reliability, and delivered the deepest and widest offerings of refractory products and expertise. Our new owner is wholly aligned with our leadership team’s vision to aggressively accelerate investments in our business. We are poised to capitalise on the momentum that our team of employees has built together."