RHI Magnesita GmbH, the Austria based global complete supplier to the paper and pulp industry, has acquired Resco Products, Inc, the US based producer of alumina monolithics and wide range of basic and non-basic refractories, that makes products for use in the petrochemical, cement, aluminium, and steel making industries, operating seven plants and two raw material sites in the US and two plants in the UK and Canada, from Balmoral Funds, the US based private equity firm, at an enterprise value of up to USD 430m. The cash consideration for the acquisition is expected to be around USD 324m, with an upper cap of about USD 342m if the completion extends 18 months beyond signing.
- Target – Resco Products, inc.
- Buyer – Rhi Magnesita GmbH
- Seller – Balmoral funds
