Platinum Equity to acquire the high temperature solutions business from IMerys for 930 million euros

The proposed Carveout from Paris-Established special items leader It adds momentum to the global purchasing organization Europe

Angels And Paris, July 28, 2022 /PRNewswire/ – Platinum Equity today announced that it has entered into exclusive negotiations to acquire Emerys SA’s High Temperature Solutions business (HTS) in a transaction valued at approximately €930 million.

The proposed transaction is expected to be completed by the end of the year, subject to customary closing conditions, including information and consultation of works councils and other regulatory approvals.

HTS is a leading global supplier of refractory solutions serving more than 6,000 customers in the iron and steel, heating and foundry markets. In the year With revenues of €801 million by 2021, the business employs around 2,800 people in 36 industrial locations in 16 countries.

Platinum Equity Partner Louis Samson said: “We have great respect for the Emeris Group, which has been an excellent steward of the HTS business for many years, overseeing the firm’s European operations. “Platinum Carvet’s expertise and ability to navigate through complex situations set us apart again. We are excited to add HTS to our growing pan-European portfolio and support this new phase of growth.”

Alessandro DazaThe CEO of Imerys said: “I would like to thank the HTS teams for their hard work, years of tireless commitment and strong contribution to the team. HTS is a wonderful business, a world leader in its field, with a highly skilled workforce. We chose Platinum Equity for its industrial vision, open support for its management. And we are determined to further contribute to the growth and development of HTS. This move is a milestone in the group’s efforts to reinvent itself as a leading, high-growth specialty mining business aligned with global mega-trends.

HTS products primarily serve the construction, industrial equipment and automotive markets, which are sectors in which Platinum Equity has invested heavily. Platinum Equity owns several companies in the materials space, including metal processors Ryerson and PNA Group, and Kymera, which produces a variety of specialty materials, powders, pastes and granules for various metallurgical, chemical and industrial processes.

“We have a lot of experience investing in industrial businesses and in particular the materials sector. The high-temperature solutions industry is very fragmented and HTS is a scalable platform with meaningful opportunities for growth,” he said. Malik Varderwelbeck. “We look forward to leveraging the company’s strong foundation and impressive technical capabilities to accelerate its growth through organic and targeted M&A investments in key product areas and geographies. We look forward to working with the company’s leadership team and supporting its long-term growth plans.”

Michelle CornelisonThe Emerys executive, who has led the HTS business since 2018, will continue as HTS CEO following the planned transition to new ownership.

The acquisition of HTS further expands Platinum Equity’s growing portfolio of European investments.

We have had many successes as a marketing partner Europe And we are committed to investing in the region,” added Mr. Samson.

Other current European Platinum Equity investments include: European vacation rental group Awaze (London); Private Label Sweet Biscuit Manufacturer Biscuit International (Paris); International Marine Contractors De Wave Group (Genoa, Italy); Wine producer Fantini Group Vini (Ortona, Italy); Seafood supplier Iberconsa (Vigo, Spain); Roman Group of Leaders of UK Property ServicesBerkshire, England); and environmental services business UrbaserMadrid).

National Bank Financial Inc. is serving as financial advisor to Platinum Equity on the acquisition of HTS. Kirkland & Ellis LLP is providing legal counsel to Platinum Equity on the transaction.

About Platinum Equity
Founded in 1995 Tom GoresPlatinum is an international investment company with equity of approx. 36 billion dollars Assets under management and a portfolio of approximately 50 operating companies serving clients worldwide. The firm is currently in partnership with Platinum Equity Capital Partners V, A 10 billion dollars International Buyout Fund, and Platinum Equity Small Cap Fund, a 1.5 billion dollars A buyout fund focuses on investment opportunities in the lower middle market. Platinum Equity specializes in mergers, acquisitions and operations – a trademarked strategy it calls M&A&O.® – Acquiring and working with companies in various business markets in manufacturing, distribution, transportation and logistics, equipment rental, metal services, media and entertainment, technology, telecommunications and other industries. Over the past 27 years, Platinum Equity has completed over 350 acquisitions.

Media Contacts:
Dan WhelanPlatinum Equality
(310) 282-9202
[email protected]

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