Platinum Equity sells Belgian fibreglass company 3B for $365 million
Clients Platinum Equity LLC
Jones Day advised Platinum Equity LLC in the €275 million ($365 million) sale of its fibreglass business in Belgium, Luxembourg, Norway and Tunisia (known as "3B - The Fibreglass Company") to Binani Industries, an Indian conglomerate which is part of the Braj Binani Group.
Headquartered in Hoeilaert, Belgium, 3B is a European leader in the production of fibreglass composite materials and a preferred supplier to global leaders in the automotive, wind energy and many other industries. Platinum Equity LLC acquired 3B in 2008 from Owens Corning.
In addition to M&A representation, Jones Day provided antitrust and tax advice regarding this transaction.