Brown Gibbons Lang & Company (BGL) is pleased to announce that its client, Vesuvius plc (Vesuvius), has acquired Universal Refractories, Inc. (UF), a specialty refractory producer in Pennsylvania. BGL’s Metals & Advanced Metals Manufacturing and Engineered Materials investment banking teams served as the exclusive financial advisor to Vesuvius on the acquisition. As previously disclosed by Vesuvius, the transaction valued Universal at $57.1 million on a cash and debt-free basis and was funded from Vesuvius’ internal resources. This transaction highlights the deep experience of the BGL team with businesses operating in the Mills & Foundries sector.
Founded in 1957 and based in Wampum, Pennsylvania, Universal Refractories manufactures specialty refractory performance solutions 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.
UK-based Vesuvius plc is 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 across the U.S., as well as in Canada and Mexico. CEO Patrick André commented on the acquisition, “Universal is a strategically important acquisition for Vesuvius, which significantly expands Vesuvius’ North American presence amongst electric arc furnace steel producers in our focus area of steel tundish applications, while also further strengthening our Foundry business.”