Select Prior Investment – Unifrax Corporation
Unifrax is a global leader in high-performance specialty products including thermal management solutions, fire protection and catalytic converter applications, and high-performance glass-based products. Unifrax has manufacturing facilities in 12 countries and a sales presence in all of the world’s major industrial regions.
Kirtland purchased the domestic operations of British Petroleum’s ceramic fiber business, which was rebranded as Unifrax. Under Kirtland’s ownership, Unifrax invested heavily in the expansion of its domestic manufacturing capacity, including the catalytic converter product line.
Kirtland made the strategic decision to extend its hold period when the opportunity became available to purchase the international operations of Saint Gobain's ceramic fiber business, resulting in the creation of the world’s largest producer of ceramic fiber products.
Kirtland successfully exited its investment in Unifrax in 2003.