# RHI Magnesita to acquire Resco Group for up to $430 million

RHI Magnesita, a Vienna-based fireproof materials maker, plans to buy Resco Group, a U.S.-based producer of alumina and refractories, for an enterprise value of up to $430 million. The acquisition is expected to be completed in the second half of 2024.

- Type: Acquisition
- Announced: 2023-05-25
- Where: United States
- Value: $430.0M
- Status: announced
- Products: alumina, refractories
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md), [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md), [Construction Materials](https://endata.com/sectors/construction-materials.md)

## Companies

- [RHI Magnesita](https://endata.com/companies/17934.md) (acquirer)
- [Balmoral Funds](https://endata.com/companies/54824.md) (investor)
- [Resco Group](https://endata.com/companies/70490.md) (target)

## Sources

- [stockopedia.com](https://www.stockopedia.com/share-prices/rhi-magnesita-n-v-WBAG:RHIM/news/austria-apos-s-rhi-magnesita-to-buy-us-based-alumina-producer-resco-updated-019e6d82-202b-750b-bfaa-37bccf39cc9c/), 2023-05-25: "The acquisition would continue its growth in alumina-based refractories by providing U.S. customers with an improved range of products."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.