Worldwide Refractories

The Company

Worldwide Refractories, Inc. (WRI) specializes in manufacturing dolomite refractory products, which are heat-resistant materials used in the linings of high-temperature furnaces that are designed to withstand temperatures in excess of 1,000°F as well as physical wear and corrosion by chemical agents. WRI is a leading provider of refractory products to steel and cement producers throughout North America and in South Africa.

The Situation

The owners of WRI were faced with capital constraints in a consolidating global industry and were seeking both liquidity and access to capital from a strategic buyer that could provide the resources necessary to drive continued growth. WRI retained KPMG Corporate Finance as its exclusive adviser to facilitate the sale of 100 percent of its stock.

The Transaction

KPMG Corporate Finance conducted a competitive sale process to identify the optimal buyer that would enable the owners to achieve their objectives and position WRI for future growth. We collaborated with our colleagues in Europe, Asia, Africa, and South America to successfully market WRI to strategic buyers in more than 21 countries. KPMG Corporate Finance’s knowledge of the industry, global coverage, and experience conducting middle market transactions were fundamental to the consummation of a transaction with Resco Products, Inc., a manufacturer of similar refractory products.