Following the completion of HarbisonWalker International (HWI)’s acquisition by Platinum Equity through a merger agreement, the global investment firm confirmed Calderys and HWI would join forces to create a leading world-class refractories solutions provider.
Michel Cornelissen, currently President and CEO of Calderys, is appointed Global CEO of the combined company, effective immediately.
The CEO said, “We have a tremendous opportunity to bring together the best of both companies to create a high-growth, customer-centric refractories provider with a global scale. Our goal is to be the best partner for our customers anywhere in the world, to support them in their energy transition needs, and to set a new benchmark for the industry.”
HWI’s headquarters will remain in Pittsburgh as the headquarters of the combined company’s Americas region operations. Calderys’ headquarters will remain in Paris for the rest of the combined Group.
Louis Samson, Platinum Equity Partner, said, “The HarbisonWalker brand is highly respected and vital to the long-term success of the combined company. We will continue investing in its growth and expansion in the Americas.”
Michel Cornelissen added, "By bringing Calderys and HWI together, Platinum Equity shows its goal is to support the development and growth of the combined business. The refractories industry is highly fragmented, and this combination will create a global platform with meaningful opportunities to expand further."
"HWI's presence in North America complements Calderys' business in Europe, the Middle East, Africa and Asia. Our complementary product portfolios will create a comprehensive offering of high-temperature solutions for a customer base worldwide."
Platinum Equity said it would seek additional opportunities to help the combined company grow.
Malik Vorderwuelbecke, the Managing Director of Platinum Equity, said, "Joining forces will create additional scale and provide both businesses access to new technologies, increasing customer value proposition.
"It will also create a global platform with new growth opportunities, organically and through additional acquisitions in key product areas and geographies."
Formerly the High-Temperature Solutions (HTS) business area of Imerys, Calderys became an independent company owned by Platinum Equity on January 31, 2023.
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