Platinum Equity, a global investment firm with approximately $36 billion of assets under management, has purchased HarbisonWalker International, a supplier of refractory products and services in North America.

Platinum Equity also looks to acquire Imerys SA‘s High Temperature Solutions business. Once both deals have been completed. HWI and HTS will combine into one business. The HWI transaction is expected to close in the first half of 2023.

“HWI’s presence in North America complements HTS’s business in Europe and Asia,” says Louis Samson, Palladium Equity partner. “Their product portfolios are also highly complementary and will create a comprehensive, well-rounded offering of brick and powder-based refractories for a global customer base. We expect the combination to immediately open up new avenues for growth on both sides.”

Kirkland & Ellis is providing legal counsel to Platinum Equity on the acquisition of HWI.