January 31, 2023

On January 31, Willkie client Platinum Equity announced that it completed its acquisition of Imerys SA's High Temperature Solutions business (HTS) for approximately €930 million. Willkie acted as financing legal counsel for Platinum Equity.

HTS is a leading global provider for industries operating in high temperature conditions and serves more than 6,000 customers in the iron and steel, thermal and foundry markets. The business generated revenues of €981 million in 2022 and has 36 industrial sites in 16 countries. Platinum Equity initially announced its acquisition of HTS in July 2022. 

HTS will operate under the Calderys brand, which is slated to combine with HarbisonWalker International (HWI), a supplier of refractory products and services in North America, following the completion of Platinum Equity’s pending acquisition of HWI.

Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with approximately $36 billion of assets under management and a portfolio of approximately 50 operating companies that serve customers around the world.

The Willkie team was led by partners Cristopher Greer, Daniel Gendron, P. Joshua Deason and Jason Pearl, and included counsel Timothy Sawyer and associate Sarah Slattery.