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

RHI Magnesita announced its intention to acquire Resco Group, a US-based producer of alumina monolithics and refractories, for an enterprise value of up to $430 million. Resco operates seven plants in the US and two in the UK and Canada.

- Type: Acquisition
- Announced: 2024-04-01
- Where: United States
- Value: $430.0M
- Status: announced
- Products: alumina monolithics, basic refractories, non-basic refractories
- Sectors: [Industrial Machinery](https://endata.com/sectors/industrial-machinery.md)

## Companies

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

## Sources

- [ots.at](https://www.ots.at/presseaussendung/OTE_20240401_OTE0001/rhi-magnesita-announces-intention-to-acquire-resco-group), 2024-04-01: "RHI Magnesita announces its intention to acquire Resco Group, a US based producer of alumina monolithics and wide range of basic and non-basic refractories, for an enterprise value of up to $430 million."
- [reuters.com](https://www.reuters.com/markets/deals/austrias-rhi-magnesita-buy-us-based-alumina-producer-resco-2024-04-01/), 2024-04-01: "RHI Magnesita said in a statement the acquisition would continue its growth in alumina-based refractories by providing U.S. customers with an improved range of products."
- [ots.at](https://www.ots.at/presseaussendung/OTS_20240401_OTS0022/rhi-magnesita-announces-intention-to-acquire-resco-group), 2024-04-01: "RHI Magnesita announces its intention to acquire Resco Group, a US based producer of alumina monolithics and wide range of basic and non-basic refractories, for an enterprise value of up to $430 million."
- [cemnet.com](https://www.cemnet.com/News/story/176780/rhi-magnesita-to-acquire-resco-group.html), 2024-04-11: "The acquisition advances our 'local for local' production strategy and will shorten supply chains"

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