Vesuvius completed the acquisition of CCPI for $43m.

Vesuvius, a provider of molten metal flow engineering and technology, completed the acquisition of CCPI, a specialty refractory producer focused on tundish steel continuous casting applications and aluminium, for $43m. The purchase price represents 8x 2018 EBITDA and the implied pro forma acquisition multiple is significantly lower post synergies, which are expected to be realised during 2019-2020. "CCPI is a strategically important acquisition for Vesuvius, which significantly expands Vesuvius' North American presence in refractories used in steel tundish applications, while also increasing Vesuvius' exposure to aluminium. The financial rationale is compelling and we look forward to working with CCPI's management team to continue its strong track record of value creation," Patrick André, Vesuvius Chief Executive.