Ceramic Industry News

AEA Investors Agrees to Acquire Unifrax (3/14/06)

March 15, 2006
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Affiliates of AEA Investors LLC (AEA), a New York- and London-based private-equity investment firm, have signed an agreement to acquire, in partnership with management, ASP Unifrax, Inc. and its operating company subsidiary, Unifrax Corp., from American Securities Capital Partners, L.P. (ASCP). Terms of the transaction were not disclosed. The sale is subject to the satisfaction of customary closing conditions and is expected to close within 60 days.

The current Unifrax management team will continue to operate the business and will reportedly have a meaningful ownership interest in the company. William P. Kelly, Chairman and CEO of Unifrax, said the Unifrax management team was "looking forward to working with AEA. The AEA team is keenly interested in our opportunity to continue to grow the business and successfully implement our long-term strategy."

Brian Hoesterey, a partner at AEA, expressed excitement about Unifrax's future. "The Unifrax management team has built a thriving business serving diverse markets around the world with great opportunities for future growth," Hoesterey said. "It is exactly the type of business AEA likes to invest in -- profitable with a strong management team and outstanding growth prospects."

For more information, visit www.aeainvestors.com.


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