Deal TypBuy-side Financial & Tax Due Diligence
BrancheRefractories & Industrial Minerals
KlientRHI Magnesita
BDO Deal Advisory supported RHI Magnesita in its acquisition of Resco Products, Inc., a leading US-based producer of refractory products. The transaction, completed in January 2025 for an enterprise value of $410 million, represents the most significant investment by RHI Magnesita since its merger in 2017 and marks a strategic step-change in the Group's North American presence.
Resco Products, Inc., founded in 1946 and headquartered in Pittsburgh, Pennsylvania, is a leading provider of refractory solutions for high-temperature industrial applications. With seven refractory plants and two raw material sites in the United States, as well as two additional plants in the United Kingdom and Canada, Resco operates one of the most comprehensive production footprints in the North American refractory industry. The company serves a broad range of industries, including petrochemicals, cement, aluminium, and steel, and is widely recognised for its Rescobond and Rescocast brands in refining and petrochemical applications.
RHI Magnesita, headquartered in Vienna and listed on the London Stock Exchange (FTSE 250) as well as the Vienna Stock Exchange, is the world's leading supplier of high-grade refractory products, systems, and solutions critical for high-temperature industrial processes exceeding 1,200°C.
The acquisition of Resco significantly advances RHI Magnesita's "local-for-local" production strategy by increasing North American output, improving supply chain security, and expanding the Group's product offering in the petrochemical, cement, and aluminium segments where RHI Magnesita had previously been underrepresented.
BDO Deal Advisory supported RHI Magnesita throughout the transaction by providing Financial Due Diligence and Tax Due Diligence services in cooperation with BDO USA, BDO Canada and BDO UK, delivering a comprehensive assessment of Resco's financial position and tax profile to underpin RHI Magnesita's investment decision.
BDO Team Financial Due Diligence (BDO Austria): Marcus Bartl, Vanessa Bussmann, Tobias Hauer, Katharina Lindner, Michael Artner
Resco Products, Inc., founded in 1946 and headquartered in Pittsburgh, Pennsylvania, is a leading provider of refractory solutions for high-temperature industrial applications. With seven refractory plants and two raw material sites in the United States, as well as two additional plants in the United Kingdom and Canada, Resco operates one of the most comprehensive production footprints in the North American refractory industry. The company serves a broad range of industries, including petrochemicals, cement, aluminium, and steel, and is widely recognised for its Rescobond and Rescocast brands in refining and petrochemical applications.
RHI Magnesita, headquartered in Vienna and listed on the London Stock Exchange (FTSE 250) as well as the Vienna Stock Exchange, is the world's leading supplier of high-grade refractory products, systems, and solutions critical for high-temperature industrial processes exceeding 1,200°C.
The acquisition of Resco significantly advances RHI Magnesita's "local-for-local" production strategy by increasing North American output, improving supply chain security, and expanding the Group's product offering in the petrochemical, cement, and aluminium segments where RHI Magnesita had previously been underrepresented.
BDO Deal Advisory supported RHI Magnesita throughout the transaction by providing Financial Due Diligence and Tax Due Diligence services in cooperation with BDO USA, BDO Canada and BDO UK, delivering a comprehensive assessment of Resco's financial position and tax profile to underpin RHI Magnesita's investment decision.
BDO Team Financial Due Diligence (BDO Austria): Marcus Bartl, Vanessa Bussmann, Tobias Hauer, Katharina Lindner, Michael Artner