Munich/Vienna, October 30th, 2017 – LIVIA Corporate Development SE announces the acquisition of the entire shares of REFEL S.p.A. and JSC Podolsk Refractories.
The companies were acquired in course of a tender process from RHI AG, Vienna, Austria as the companies were considered non-core business. RHI AG (meanwhile operating as RHI Magnesita since merger with Magnesita) is a globally operating supplier of high-grade refractory products, systems and services, which are indispensable for industrial high-temperature processes exceeding 1,200 °C.
Both, REFEL S.p.A., located next to Venice, Italy, and JSC Podolsk Refractories, located in Moscow, Russia, are globally leading producers of fused cast refractory materials, mainly used for building furnaces for the glass manufacturing and other refractory product industries. REFEL and JSC Podolsk Refractories together have more than 115 years of experience with refractory materials and offer very diversified, high quality product portfolios. They offer a wide range of products from raw material to premium quality products. Whereas exports of REFEL make up 85 per cent of its sales, JSC Podolsk Refractories enjoys No. 1 domestic position.
The transaction offers a positive future for both companies for together more than 250 employees. Franz Maurer, Managing Director at LIVIA Corporate Development, said: “For a business of its size, REFEL has more than just an impressive client base serving almost all major glass producers worldwide. We are confident that we can attract new business opportunities based upon the trust towards REFEL‘s highly proven products. “
About LIVIA Group
LIVIA Group is an independent industrial holding as well as the private investment firm of Prof. Dr. Dr. Peter Löw with funds under management of more than EUR 500m, which result from Peter Löw’s entrepreneurial career.
LIVIA invests in a diverse spectrum of assets, ranging from corporate, agricultural and opportunistic investments to real estate, emerging markets, and fine arts & antiques.
More than 250 executed transactions made LIVIA’s management a preferred and trusted partner of international corporations and financial institutions.
LIVIA Corporate Development is specialized in acquiring European corporate spin-offs / carve-outs as well as midsized companies with revenues between EUR 20m and EUR 1.5bn. The focus is on business transformations and acquisitions of companies with operational improvement potential as well as add-on acquisitions for existing platform investments to realize synergies.
About RHI Magnesita
RHI Magnesita is the result of the combination of RHI and Magnesita to form the global leading supplier of high-grade refractory products, systems and services which are indispensable for industrial high-temperature processes exceeding 1,200°C in a wide range of industries, including steel, cement, non-ferrous metals, and glass, among others. RHI Magnesita has more than 14,000 employees in 35 main production sites and more than 70 sales offices and generated about EUR 2.5bn in revenues in FY 2016.
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