Commission européenne, DG COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE  
Europese Commissie, DG COMP MERGER REGISTRY, 1049 Brussel,   BELGIË  
 
Tel: +32 229 -91111. Fax: +32 229 -64301. E -mail: COMP -MERG ER-REGISTRY@ec.europa.eu . 
  EUROPEAN COMMISSION  
Brussels, 24.11.2022  
C(2022 ) 8711 final  
PUBLIC VERSION  
Platinum Equity, LLC , 
c/o Platinum Equity Advisors, LLC ,  
360 North Crescent Drive , 
South Building , 
Beverly  Hills, California 90210 , 
United States of America  
Subject : Case M.10 900 - PLATINUM EQUITY GROUP / IMERYS HTSM  
Commission decision pursuant to Article 6(1)(b) of Council Regulation 
(EC) No 139/20041 and Article 57 of the Agreement on the European 
Economic Area2  
Dear Sir or Madam,  
1. On 31 October  2022 , the European Commission received notification of a proposed 
concentration pursuant to Article 4 of the Merger Regulation , by which , California 
Holding III Limited (‘California’, USA), ultimately controlled by Platinum Equity, 
LLC (‘Platinum Equity Group’, USA),  intends to  acquire , within the meaning 
of Article 3(1)(b) , sole control over 17 companies composing the Imerys ' High 
Temperature Solutions business (‘Imerys HTS’, France)3, controlled by Imerys S.A. 
(France)  and joint control, within the meaning of Article 3(4) over Calderys Ibérica 
Refractarios, S.A.  (‘Calderys Ibérica’, Spain) , jointly controlled by Imerys S.A. and a 
group of individual shareholders , by way of purchase of securities .4  
2. The business activities of the undertakings concerned  are the following : 
                                                 
1 OJ L 24, 29.1.2004, p. 1 ( the ‘Merger Regulation ’). With effect from 1 December 2009,  the Treaty on 
the Functioning of the European Union ( ‘TFEU ’) has introduced certain changes, such as the 
replacement of ‘Community ’ by ‘Union ’ and ‘common market ’ by ‘internal market ’. The terminology 
of the TFEU will be used throughout this decision.  
2  OJ L 1, 3.1.1994, p.  3 (the ‘EEA Agreement ’). 
3  Imerys HTS is composed of 17 legal entities: Calderys France  SAS; Calderys Nordic AB; Ca lderys 
Ukraine Ltd; Calderys Refrakter Sanayi ve Ticaret A.Ş.; Imerys Metalcasting France SARL; Calderys 
Deutschland GmbH; Imerys Metalcasting Germany GmbH; S&B Endustriyel Mineraller A.S; Calderys 
NGJ Ltd; Calderys Italia S.r.l; Imerys Bentonite Italy S.p .A; Imerys Minerals USA, Inc.; Calderys The 
Netherlands B.V.; Calderys India Refractories Ltd; Calderys South Africa Pty Ltd; Imerys Steelcasting 
do Brasil  Ltda; Calderys Algérie  Spa.   
4  Publication in the Official Journal of the European Union No C 428, 10.11 .2022 , p. 49 

2 — Platinum Equity Group specializes in the  acquisition and operation 
of companies that provide services and solutions to customers in a broad range 
of businesses, including information technology, t elecommunications, 
logistics, metal services, manufacturing and distribution at global level. 
Platinum Equity Group controls Solenis, which is a specialty chemical 
company active globally in water treatment solutions, process solutions, pulp 
and paper solu tions and monitoring solutions ,  
— Imerys HTS is a global provider of high temperature refractory solutions and 
services, offering thermal protection of industrial equipment as well as flow 
and casting enhancement to customers from the iron, steel, foundry a nd 
thermal industries. Imerys HTS has three mai n product families, namely: 
(i) refractories, (ii) steel casting fluxes and (iii) green molding sand additives ,  
— Calderys Ibérica is a supplier of  refractory products in Spain.  
3. After examination of the notific ation, the European Commission has concluded that 
the notified operation falls within the scope of the Merger  Regulation  and 
of paragraph 5(c) of the Commission Notice on a simplified procedure for treatment 
of certain concentrations under Council Regulation (EC) No 139/2004 .5 
4. For the reasons set out in the Notice on a simplified procedure, the European 
Commission has decided not to oppose the notif ied operation and to declare 
it compatible with the internal market and with the EEA Agreement . This decision is 
adopted in application of Article 6(1)(b) of the Merger  Regulation  and Article 57 
of the EEA Agreement . 
For the Commission  
 
 
(Signed)  
Olivier GUERSENT  
Director -General  
 
 
 
                                                 
5  OJ C 366, 14.12.2013, p. 5 .