Unifrax Announces Acquisition Deal
2351 Whirlpool St.
Niagara Falls, NY, 14305
Press release date: February 7, 2013
Niagara Falls, NY - Unifrax I LLC ("Unifrax"), the Niagara Falls, N.Y. based manufacturer of ceramic fiber insulation products, announced today that it has acquired Lauscha Fiber International ("LFI") from Bürger Glass- und Fasertechnik GmbH and JLR Holding W.L.L. Bahrain, companies controlled by Mr. Gerhard Bürger. Unifrax is majority owned by affiliates of American Securities LLC.
LFI develops, manufactures and sells innovative, glass microfibers to a global customer base. LFI fibers are used by their customers to produce products utilized in a variety of end-user applications primarily in the filtration and battery separator markets.
The LFI business is headquartered in Lauscha, Germany where its largest manufacturing operation is also located. It also has manufacturing locations in Summerville, South Carolina in the USA, Sudogda, Russia and the Kingdom of Bahrain. The business has approximately 250 employees, who are now members of the worldwide Unifrax team.
David E. Brooks, Unifrax President & CEO comments "LFI has a great reputation in the markets it serves, a proud heritage and excellent people. LFI's fiber products and manufacturing technology will nicely complement our Unifrax products and processes." Adds Brooks, "Mr. Gerhard Bürger and his team have done an outstanding job of growing the LFI business. They have built strong, long-term relationships with their key customers. Mr. Bürger has invested substantial capital in LFI to ensure it has the capacity and capabilities needed to consistently meet its customers' requirements. We look forward to continuing to build on the long-term track record of growth and success that Mr. Bürger and his team have achieved at LFI."
Mr. Gerhard Bürger states "It was important to me to find a home for Lauscha with a strong, growth-oriented company that would continue to invest in the business and support its future growth. Unifrax is the perfect fit."
Unifrax I LLC is a leading global supplier of insulation products that are used in many high- temperature industrial, automotive and fire protection applications. The Company has 28 manufacturing facilities in the United States, Europe, the Middle East, Russia, Asia, South Africa and Latin America and employs approximately 2,000 people worldwide.
American Securities, based in New York and with an office in Shanghai, China is a leading U.S. private equity firm that invests in market-leading North American companies with annual revenues generally ranging from $500 million to $2 billion. American Securities has over $8 billion under management and is currently investing from its sixth fund. The firm traces its roots to a family office founded in 1947 to invest and manage a share of the fortune created from the growth of Sears, Roebuck & Co in the early 1900s. More information about American Securities can be found at www.american-securities.com
Terms of the transaction are confidential and will not be disclosed.
For Further information, contact:
Unifrax I LLC
2351 Whirlpool Street
Niagara Falls, N.Y 14305