Hamilton Locke has advised Refratechnik Group on its acquisition of QMAG, a leading Australian magnesia miner and producer, from Sibelco (a Belgian-based global leader in material solutions and sources).
QMAG, which owns one of the world’s largest deposits of cryptocrystalline magnesite at its Kunwarara deposit, is based in Queensland and is a fully integrated producer of magnesia products for use in agricultural, metallurgical, paper, pulp and paper, iron and steelmaking and environmental applications. QMAG supplies these products to both domestic and export markets.
For Refratechnik, which is the largest family-owned refractory business in the world and incorporates a global network of companies employing over 1700 people, this acquisition bolsters its position as a global industrial mineral producer for the cement, lime, iron and steel, non-ferrous and ceramics industries. QMAG will add vertical supply chain integration to Refratechnik’s existing partnerships and complement its existing world-class magnesia operations in Canada (through Baymag) and its recent start-up in China (Haichen Guozheng Mining).
Dr. Rainer Gaebel, managing director of Refratechnik, noted that “with a like-minded focus on performance excellence, Refratechnik looks forward to utilizing the added joint strengths, business synergies, and increased product portfolio to ultimately deliver greater value to our customers.”
Hamilton Locke’s team was led by Partner Brent Delaney and closely supported by Senior Associate Joshua Bell and Lawyer Stephen Vrettos. Refratechnik was also advised by Mazars on the financial side of the deal.
Commenting on the deal, Brent Delaney said: “We are delighted to have advised Refratechnik on their strategic acquisition of QMAG. It was a pleasure to assist Refratechnik over a lengthy and at times complex process and showcase our ability to work seamlessly across multiple time zones and (at the end of the process) execute amongst unpreceded global chaos. It was also fantastic to collaborate closely with the Mazars team. We are excited to see the journey ahead unfold for both Refratechnik and QMAG under Refratechnik’s leadership as they combine forces to deliver even more value to their customers.”
About Hamilton Locke
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