H.I.G. Capital, a leading global alternative investment firm with over $49 billion of equity capital under management, is pleased to announce that it has signed an agreement to sell its portfolio company Valtris Specialty Chemicals to an affiliate of funds managed by SK Capital Partners.
After a successful carve-out transaction from Ferro Corporation in late 2014, H.I.G. collaborated with management to expand the Company’s geographic reach, customer breadth and product portfolio through the acquisition of Akcros Chemicals in the US and UK in 2016 and multiple INEOS Enterprises business units in France, Belgium and the Netherlands in 2018. Additionally, the Company made significant investments in management, sales & marketing and new product development which resulted in EBITDA tripling during H.I.G.’s ownership.
Lazard Middle Market was lead financial advisor to H.I.G., and McDermott Will & Emery LLP served as legal advisor to H.I.G. and Valtris Specialty Chemicals in connection with the transaction. Piper Sandler also served as a financial adviser. The transaction is expected to close in Q3 2022 and is subject to customary closing conditions.
Read more: Financial Post
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