Calderys has announced it has become an independent company encompassing the full scope of the High Temperature Solutions business (HTS) area formerly under Imerys. The new company is owned by US-based Platinum Equity following the successful completion of regulatory approvals and customary closing conditions.

Calderys specialises in thermal protection for industrial equipment with a wide range of refractory products, and advanced solutions to enhance steel casting, metallurgical fluxes and molding processes.

Michel Cornelissen has been instrumental in positioning Calderys and will continue to serve as its President and Chief Executive Officer: “This is a key milestone in our development. As a standalone company, we expect to be even more agile, improving our ability to deliver solutions that help our customers meet the demands of tomorrow, especially in terms of energy transition. Platinum Equity is committed to the future of Calderys, supporting our customers and growing our business, notably through acquisitions.”

“We are happy to welcome Calderys in our portfolio of companies and excited to work with Calderys leadership team and all of the talented employees to develop the company and unlock its growth potential,” said Platinum Equity Partner Louis Samson and Platinum Equity Managing Director Malik Vorderwuelbecke in a joint statement.

The private equity firm announced in December 2022 that it will acquire Harbison Walker International (HWI) with the aim of combining Calderys and HWI into a global business with increased reach and scale.

“Calderys and HWI will be a great fit together, with complementary footprints and product portfolios,” added Mr. Samson and Mr. Vorderwuelbecke. “We expect the combination to create exciting growth opportunities for both businesses.”

Platinum Equity said it will continue to seek more opportunities to help the combined business grow both organically and through additional acquisitions in key product areas and geographies.