The Board of Directors of HarbisonWalker International (HWI) has announced that it 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.
Financial terms were not disclosed. 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 the year. Once both acquisitions have been completed, HWI and HTS will combine into a global business with increased reach and scale.