Livingstone Casts the Net in Cross-Border Deal
February 2007
Cookson, the major UK materials science group, is the latest group to benefit from Livingstone’s international reach, with the sale of wholly-owned subsidiary Monofrax Inc, a New York State-based producer of fused cast refractories. Livingstone was able to introduce Cookson to Cleveland-based M&A house Brown Gibbons Lang & Co (“BGL”).
Cookson Group plc is a leading materials science company operating on a worldwide basis in ceramics, electronics and precious metals markets. With BGL taking the lead, Livingstone also supported a worldwide marketing campaign which resulted in the sale of the business to the Austrian global supplier of refractories, RHI, for $45million.
Monofrax has supplied highly engineered heat and corrosion resistant refractories for the lining of glass making furnaces to almost every major glass manufacturer in North America, and many others across the world.
Referring to his advisory team, Tony Harrison, Cookson’s Group Head of Treasury and M&A, said, “Given the obvious importance and sensitive nature of this transaction, we wanted an experienced financial adviser with global capabilities and a strong track record of successful corporate divestitures. From the onset of the engagement, we were impressed with our advisers’ communicative approach, attention to detail, and commitment to service. The advisers’ dedication, professionalism and ethical conduct formed the bedrock of a highly successful transaction.”
Livingstone partner Jeremy Furniss, says: “This is another excellent example of our ability to deliver a seamless corporate finance solutions for UK groups seeking to close mid-market deals around the world.”
For further information contact:
Jeremy Furniss
T: +44 20 7484 4703
E: furniss@livingstonepartners.co.uk
Daniel Domberger
T: +44 20 7484 4731
E: domberger@livingstonepartners.co.uk
