The Board of Directors of HarbisonWalker International (HWI) 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 in the supply of refractory products and services. The transaction is expected to be completed in the first half of 2023. Platinum Equity announced plans in July 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 the year. Once both acquisitions have been completed, HWI and HTS will combine into a global business with increased reach and scale.

“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.”

Platinum Equity said it will seek additional opportunities to help the combined company grow both organically and through additional acquisitions in key product areas and geographies.

Since rebranding as HWI in 2015, the leadership team has embarked on numerous initiatives. Projects have included the building of a monolithics plant in Ohio, numerous upgrades to its manufacturing facilities and the creation of a new manufacturing plant and hub facility (Alabama1) to serve steel customers in the southern United States. HWI’s Advanced Technology Research Center (ATRC), what it says is the largest refractory research-and-development lab in North America, continues to deliver new industry innovations for customers and is advancing a major recycling initiative.