Platinum Equity has acquired Imerys SA‘s High Temperature Solutions for $951 million.

HTS is a provider of refractory services, serving over 6,000 customers in the iron and steel markets.

“We have great respect for the Imerys team, which has been an excellent steward of the HTS business for many years. We appreciate their confidence in our ability to deliver a transaction that is opportune for everyone involved,” said Louis Samson, partner of Platinum Equity. “Platinum’s expertise and ability to manage complex situations differentiated us. We are excited to add HTS to our growing pan-European portfolio and to support its next chapter.”

National Bank Financial is serving as financial advisor to Platinum Equity. Kirkland & Ellis LLP is providing legal counsel to Platinum Equity.