RHI Magnesita completed the acquisition of Resco Products from Balmoral Funds for $430m.

RHI Magnesita, a supplier of high-grade refractory products, systems and solutions, completed the acquisition of Resco Products, a refractory manufacturer, from Balmoral Funds, a private equity firm, for $430m. “This transaction is a testament to our successful transformation over the past two years, all underpinned by a safety-first culture. Our focus and disciplined execution – coupled with operational improvements to increase manufacturing reliability, uptime and output – have driven significant tangible benefits, including all-time low incident rates, profitability improvement and customer growth. We are confident that RHIM shares our core values, including a deep-rooted commitment to safety, quality and innovation. As we enter this next chapter, joining forces with RHIM will enable us to accelerate this progress and drive our next phase of growth,” Mark G. Essig, Resco CEO.