HIG acquires Rio Tinto's speciality alumina business

The subsidiary – which has changed owners frequently in recent times, with previous owners including Pechiney and Alcan – will become an independent business named ALTEO following the transaction.

HIG plans to accelerate and reinforce the planned development of the business in cooperation with the existing management. ALTEO underwent transformation through the development of high value-added products in recent years and the company plans to further internationalise. The business will benefit from investment in application-based R&D and environmental sustainability.

Company
ALTEO produces and supplies speciality non-metallurgical grade alumina. Headquartered at its Gardanne site in France, the business has three more industrial sites in France and Germany and commercial sites globally. ALTEO has a turnover of almost €300m.

The key markets for the company's products are ceramics, refractories, abrasives and glass, supported by an expanding global commercial network in Europe, Asia and the US.

People
Olivier Boyadjian worked on the deal as managing director at HIG Capital France.

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• Topics
• Buyouts
• Industrials
• France
• HIG Capital
• France