Opta Minerals acquires Babco for $18.9M
Deal to boost Opta’s mill and foundry business.
WATERDOWN, Ont.: Opta Minerals Inc. has acquired Babco Industrial Corp., a Regina-based industrial processor and supplier of petroleum coke, synthetic slag, sand and crushed graphite in a deal worth $18.9 million.
Opta said the deal will help boost its mill and foundry business and expand the company’s position as a key service provider to the North American steel sector.
Babco, which employs 25 people, has a plant that can be expanded to produce more materials used in making and hardening steel.
Waterdown, Ont.-based Opta supplies materials for use primarily in the steel, foundry, loose abrasive cleaning and municipal water filtration industries.
It has plants in Ontario, Quebec, the US and Europe. It is 66.4% owned by SunOpta Inc., a producer of organic foods.
Late last year, Opta acquired Inland RC LLC, a Cleveland-based supplier to the mill and foundry industry.