TRB Réfractaires advances its international growth strategy with the acquisition of MT Savage Specialty Refractories, a longstanding leader in the North American refractory industry.
∕ On March 31, 2025, TRB Réfractaires, a major player in the manufacture of refractory products in France, completed the acquisition of the American company MT Savage Specialty Refractories, specialized in the production of high-quality monolithic refractory materials.
∕ TRB Réfractaires, a subsidiary of Groupe CB, is a French family-owned company specializing in the manufacture of refractory products. Based in Leulinghen-Bernes, it is renowned for its expertise and know-how in refractory materials. Today, the company generates sales of close to €80 million, with activities worldwide and operations in France, China, Germany, Mexico, Ukraine and the UK.
∕ MT. Savage Specialty Refractories is an American company founded in 1975 and dedicated to the production of high-quality monolithic refractory materials. The company has expanded its product range to include plastic refractories, mortars, castables, and a wide range of refractory materials. The company employs around 50 people in 3 locations, including 1 production site, in Pennsylvania and Maryland.
∕ This strategic acquisition enables TRB Réfractaires to expand its presence in the North American market and strengthen its position as a global player in the refractory materials sector serving industry. The synergies between the two groups will drive innovation and continuous product and service improvement.
A transaction led by ALTIOS Corporate Finance
∕ ALTIOS Corporate Finance is supporting the TRB Group in its international external growth strategy. The project involved identifying American companies, contacting the most appropriate targets, carrying out a financial analysis of MT. Savage, and then providing support during the negotiation phases, coordinating due diligence and negotiating the SPA (Share Purchase Agreement).
∕ ALTIOS Corporate Finance’s role:
– Screening, market research, identification and qualification of potential acquisition targets
– Approach to qualified targets
– Financial analysis and valuation
– Coordination of Due Diligences
– Assistance with SPA drafting and negotiation
∕ With the completion of this transaction, Altios Corporate Finance confirms its ability to support its clients in complex operations and bring strategic cross-border transactions to a successful conclusion.
Altios Corporate Finance confirms its positioning as a buy-side M&A advisor in international small & mid cap external growth operations.
Testimonial of TRB Réfractaires
„ The ALTIOS International team turned our strategic thinking and ideas into a concrete and structured action plan. Their support allowed us to focus on data analysis and building a strong relationship with the management and sales teams, without being distracted by technical or logistical matters. It was a smooth, efficient and highly appreciated cooperation. ”
Thibaut Poulain, Strategic Development Director – CB
Testimonial of Altios Corporate Finance
“We are proud to have completed this transaction under optimal conditions, enabling TRB Réfractaires to strengthen its presence in the United States. The shared values and MT. Savage expertise in premium refractory products will ensure a seamless integration and unlock valuable synergies between the 2 companies.“
Alexandre Kaplan, M&A Director and Partner – ALTIOS
Advisors
Buyer’s advisors:
- M&A: ALTIOS Corporate Finance – Alexandre Kaplan, Camille Garbolino, Elias Remy
- Legal: Castaldi Partners – Gaspare Dori, Dominique Colella, Irène Malusa, Margherita Luppi
- Financial: EY – Christine Staub, Karim Tazi
- Tax: EY – Alexis de Foucault, Frédéric Reliquet, Ambre Brou
- HR: ALTIOS Global HR – Morgane Pinault, Yasmine Duquesne
Seller’s advisors:
- M&A: KPMG – Ford Philipps, Lauren Holly, David Lake
- Legal: Tucker & Aresnberg – Thomas Peterson
Contact Press: Alexandre Kaplan, M&A Director, a.kaplan@altios.com
