Vesuvius adds to EAF supplier holdings

London-based Vesuvius plc, a supplier of equipment and technology to scrap-fed electric arc furnace (EAF) steelmakers, has acquired Pennsylvania-based Universal Refractories Inc. The transaction has been announced by Cleveland-based Brown Gibbons Lang & Co. (BGL).

BGL, which describes Universal as a specialty refractory producer, says Vesuvius acquired it for $57.1 million on a cash and debt-free basis in a transaction that was funded from Vesuvius’ internal resources.

Founded in 1957 and based in Wampum, Pennsylvania, Universal Refractories manufactures specialty refractory performance technology for the steel and foundry industries. The company operates two facilities in Pennsylvania consisting of more than 240,000 square feet of production and warehousing space.

“Universal is a strategically important acquisition for Vesuvius, which significantly expands Vesuvius’ North American presence amongst EAF steel producers in our focus area of steel tundish applications, while also further strengthening our foundry business,” says Vesuvius CEO Patrick André.

Vesuvius describes itself as a global leader in molten metal flow engineering and technology principally serving the steel and foundry industries. The company’s North American operations include facilities in the United States, Canada and Mexico.

BGL’s Metals & Metals Processing and Engineered Materials investment banking teams served as the exclusive financial advisor to Vesuvius on the acquisition, says BGL, which adds, “This transaction highlights the deep experience of the BGL team with businesses operating in the mills and foundries sector.”