M&A Deal Summary

RHI Magnesita Acquires Resco Products

On March 29, 2024, RHI Magnesita acquired manufacturer Resco Products from Balmoral Funds for 430M USD

Acquisition Highlights
  • This is RHI Magnesita’s 1st transaction in the Manufacturing sector.
  • This is RHI Magnesita’s largest (disclosed) transaction.
  • This is RHI Magnesita’s 1st transaction in the United States.
  • This is RHI Magnesita’s 1st transaction in Pennsylvania.

M&A Deal Summary
Date 2024-03-29
Target Resco Products
Sector Manufacturing
Buyer(s) RHI Magnesita
Sellers(s) Balmoral Funds
Deal Type Add-on Acquisition
Deal Value 430M USD
Advisor(s) Jefferies (Financial)
Vedder Price P.C. (Legal)

Target

Resco Products

Pittsburgh, Pennsylvania, United States
Resco Products is a designer and manufacturer of refractory materials. Refractories are consumable materials used as protective linings for high-temperature furnaces, containers carrying molten metals, and a range of other harsh environment industrial situations. Resco Products was founded in 1946 and is based in Pittsburgh, Pennsylvania.

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Buyer(S) 1

Buyer

RHI Magnesita

Vienna, Austria
Category Company
Founded 1834
Sector Metals/Mining
Employees12,000
Revenue 3.6B EUR (2023)
DESCRIPTION

RHI Magnesita supplies high-grade refractory products, systems, and solutions that are indispensable for industrial high-temperature processes exceeding 1,200°C in a wide range of industries, including steel, cement, non-ferrous metals, and glass. RHI Magnesita was incorporated in 1834 and is based in Vienna, Austria.

DEAL STATS #
Overall 2 of 2
Sector (Manufacturing) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Pennsylvania) 1 of 1
Country (United States) 1 of 1
Year (2024) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-01 Premier Periclase

Drogheda, Ireland

Premier Periclase engages in the production of caustic calcined magnesia products for the fertilizer, animal feed, hydrometallurgical, pulp and paper, environmental and refractory industries. Premier Periclase is based in Drogheda, Ireland.

Sell -

Seller(S) 1

SELLER

Balmoral Funds

Los Angeles, California, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2005
PE ASSETS 200M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Balmoral Funds is a private equity firm which targets recapitalizations, special situations, and acquisitions of small and middle-market companies. Typical investment candidates are located in the US or Canada, undergoing operational challenges with up to $400 million of revenue. Sectors of interest include manufacturing, business services, consumer products, retail, and value-added distribution. The Firm's target investment size is $5 to $40 million. Balmoral Funds was established in 2005 and is based in Los Angeles, California.

DEAL STATS #
Overall 9 of 9
Sector (Manufacturing) 1 of 1
Type (Add-on Acquisition) 5 of 5
State (Pennsylvania) 1 of 1
Country (United States) 9 of 9
Year (2024) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-07-06 KP Aviation

Mesa, Arizona, United States

KP Aviation is an aerospace aftermarket sale and leasing company provides essential aftermarket materials and services, catering. KP Aviation is based in Mesa, Arizona.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-09-30 DWFritz

Wilsonville, Oregon, United States

DWFritz is a provider of precision metrology, inspection, and assembly solutions for advanced manufacturing. The Company designs, builds, and supports engineer-to-order high-speed, non-contact metrology solutions and automation systems. DWFritz was founded in 1973 and is based in Wilsonville, Oregon. 

Buy -
Mergr

Product

Company

Legal