Unifrax Corp. has completed its acquisition of Asfil Isolations & Filtermaterial GmbH. Terms of the transaction were not disclosed. Asfil, located in Kleinreinsdorf, Germany, is reportedly the leading supplier of fabricated fiber products to the European domestic appliance industry for use in the combustion chamber of home boiler units. The company has approximately 80 employees who will be joining the Unifrax European team. "Asfil is a company with a great reputation, proud heritage and excellent people," said William P. Kelly, Unifrax president and CEO. "In addition to its strong market position in the domestic appliance market segment, the company has excellent manufacturing and fabrication capabilities that will complement our existing manufacturing technology. Asfil is also well located to support our growth initiatives in the Eastern European region."
Unifrax is owned by American Securities Capital Partners, L.P. and Unifrax management. For additional information, call (716) 278-3832 or visit http://www.american-securities.com.