Web News: American Securities Sells Unifrax
Headquartered in Niagara Falls, NY, Unifrax had estimated sales of $220 million in 2005 and operates 13 facilities located in the United States, Europe, Latin America and Asia. American Securities has owned the Company since September 2003.
"There are many aspects of this partnership of which we are particularly proud," observed Paul Rossetti, Managing Director of American Securities. "Working with Unifrax to establish a presence in China is certainly a highlight, followed closely by identifying and resourcing of other growth initiatives."
"As a partner, American Securities played a valuable role in helping us develop our global strategic growth plan," commented William P. Kelly, Chairman and Chief Executive Officer of Unifrax Corporation. "The firm's vision, analysis and practical experience played a strong role in our growth. This has been a highly successful partnership from our perspective. What is more, they have helped us find an excellent new financial partner in AEA Investors, an international private equity investment firm, that shares our vision for the future of our company, as well."
Unifrax was represented in this transaction by investment bankers Wachovia Securities with Houlihan Lokey Howard & Zukin as co-manager. The company's legal advisor was Kaye Scholer, LLP.