Mexichem SAB de CV is buying Knoxville, Tennessee-based Dura-Line for $630 million.
Dura-Line makes parts for the telecom and data communications, energy and infrastructure industries. The company has manufacturing facilities in the U.S., Mexico, India, Oman, Europe and South Africa.
The company is backed by Chicago private equity firm CHS Capital. The firm's other investments include Fortiline Waterworks, GSE Environmental and Royall & Co.
The deal should help Mexichem expand in the telecom, data communications and energy piping spaces, as well as penetrate key markets. Mexichem, headquartered in Tlalnepantla, Mexico, is a chemical and petrochemical company.
Jones Day is providing legal advice to Mexichem on the deal.
For more on cross-border activity, including dealmaking in Latin America, see "5 Buyers Find New Customers Abroad."