An EGF loan of EUR 100 million to Outokumpu

Finnvera
Finnvera has granted Outokumpu plc a loan of EUR 100 million with European Investment Bank’s (EIB) EGF guarantee.
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Finnvera has granted Outokumpu plc a loan of EUR 100 million with European Investment Bank’s (EIB) EGF guarantee.

Finnvera joined EIB’s Pan-European Guarantee Fund (EGF) programme in April 2021. The programme enables Finnvera to grant a total of EUR 650 million of working capital and investment loans, mainly for the financing needs of large enterprises. This funding will have a 75% EIB guarantee.

The program will continue until the end of June 2022.

The Guarantee Fund is intended for large and medium-sized enterprises which exceed the limits of the EU’s SME definition by having a staff headcount of 250 or more, an annual turnover of over EUR 50 million, and a balance sheet total in excess of EUR 43 million.

The loans under the guarantee programme will be provided directly by Finnvera. An individual loan amount may not exceed EUR 100 million, and the credit period is at maximum six years. The more detailed terms and conditions of the financing will be agreed upon individually for each project. In principle, the same terms and conditions will apply as to the company’s other financing.

Read also: Possibility to grant loans to large companies under the Pan-European Guarantee Fund will continue until the end of June 2022

Finnvera credit under EGF guarantee
Borrower: Outokumpu plc
Credit amount: EUR 100 million working capital limit
Credit period: 4 years
Agreement entered: December 2021
Date of publish: 11 January 2022

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Nordstjernan’s subsidiary Rosti acquires Plastic Components, Inc.

Nordstjernan

Nordstjernan’s wholly owned subsidiary Rosti has acquired 100 percent of the shares in the US company Plastic Components, Inc. (“PCI”). The acquisition of PCI strengthens Rosti’s global position in plastic injection molding and creates a platform for continued growth in North America.

Rosti develops and manufactures injection-molded plastic components. The company’s offering includes container closures and lids for the food industry as well as manufacturing of components and complete products for selected consumer and industrial sectors. The company has manufacturing operations in China, Malaysia, Poland, Romania, the UK, Sweden, Turkey and Germany. Rosti had sales of approximately EUR 323 million in 2020.

 

PCI offers plastic injection molding in North America, with long-standing business relationships with a diverse customer base. The company – which boasts a high degree of innovation, with state-of-the-art production facilities in Germantown, Wisconsin, Clearfield, Utah and Cary, North Carolina – was sold by MPE Partners and a number of minority investors. The parties have agreed keep the full terms and conditions of the transaction confidential.

 

“Through the acquisition of PCI, Rosti is establishing a global footprint in plastic injection molding. This add-on acquisition is aligned with Nordstjernan’s focus on building leading international industrial companies,” says Nordstjernan’s CEO Peter Hofvenstam.

 

“M&A is an important part of Rosti’s growth strategy. We actively look for high-quality companies that can add new areas of expertise, geographic markets and customer segments. Through the acquisition of PCI, we are broadening Rosti’s customer base and creating an important platform for continued growth in the US. This will benefit our new and existing customers,” says Rosti’s Chairman Eric Persson.

 

Rosti is part of Nordstjernan’s Industry sector, which accounts for approximately one-fifth of Nordstjernan’s net asset value. In the Industry sector, Nordstjernan invests in industrial companies with an established business and which have long-term global growth potential.

 

 

Peter Hofvenstam

President and CEO

Nordstjernan AB
For more information, visit

 

Peter Hofvenstam, CEO, Nordstjernan

E-mail: peter.hofvenstam@nordstjernan.se

 

Stefan Stern, Head of Communications, Nordstjernan

Telephone: +46 70 636 74 17

E-mail: stefan.stern@nordstjernan.se

 

 

 

Nordstjernan is a family-controlled investment company whose business concept is to be an active owner that creates long-term value growth. More information about Nordstjernan can be found on www.nordstjernan.se.

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Westpack’s management team partners with Adelis to continue its international expansion

Adelis Equity

Westpack, a European market leader in high quality custom made packaging solutions for the European jewelry, watch and eyewear market, has partnered with Adelis Equity Partners (“Adelis”) for its next growth phase. Management will hold a significant ownership together with Adelis.

Westpack is a European market leader in high quality custom made packaging solutions for the European jewelry, watch and eyewear market. The company’s customers are small, medium and large brand companies, as well as online and physical retailers.

Headquartered in Holstebro, Denmark, Westpack employs approx. 180 people, of which 150 are employed in Denmark and 30 people are employed in Asia. Westpack’s well diversified sourcing setup coupled with its own production in Denmark enables the company to serve its many customers with various types of packaging solutions. In recent years, Westpack has also seen a rapid growth in its B2B eCommerce business where customers place their own orders by adding their own logo to Westpack’s wide product assortment. The company has expanded its market presence throughout Europe in both its brand business and its online B2B business.

”Westpack is a market leader in a very fragmented market in Europe. The company has demonstrated that its business model creates great value for its customers. Westpack has outgrown the market for many consecutive years in both existing markets and by entering new markets, nevertheless the company’s market potential is still great,” says Martin Welna at Adelis.

“We see brand owners and retailers focusing more on ESG, reliability and flexibility in supply as well as design and development capabilities. Westpack has proven to be on the forefront on all of these parameters compared to competitors. The company’s value proposition is highly appreciated by its customers and the company has an outstanding customer satisfaction score. We are very excited about supporting this company in its continued growth,” Martin Welna at Adelis continues.

CEO at Westpack, Morten Dalsgaard, who continues as CEO and shareholder, is very satisfied with getting Adelis on board: ”With Adelis as new majority owner, we now have a great platform for continuing our international growth. With Adelis on the team, we will continue with our growth ambitions in our online business as well as expand our highly efficient production capacity in Denmark. These two elements, coupled with our strong and agile sourcing setup in Asia and Eastern Europe, are the cornerstones in our business model, which has demonstrated double-digit growth rates in recent years.”

“Adelis has shown a solid track-record of partnering with companies and actively contributing with a successful development, both in terms of organic growth and via add-on acquisitions. When it comes to add-on acquisitions, this is something we would like to take a closer look at. Adelis is very experienced in this field, and many of their portfolio companies have carried out successful add-on acquisitions. Westpack operates in a very fragmented market, so this is another good reason why our new majority owner is Adelis,” Morten Dalsgaard continues.

Adelis will become majority owner in Westpack, while management and key employees have invested a significant ownership stake in Westpack. Together, the parties expect to continue investing in an ambitious growth plan.

For further information:

Martin Welna, Adelis Equity Partners, +45 21 99 67 57, martin.welna@adelisequity.com

Joel Russ, Adelis Equity Partners, +46 73 543 30 68, joel.russ@adelisequity.com

Morten Dalgaard, CEO, Westpack, +45 41 71 75 81, mda@westpack.com

About Westpack A/S

Westpack design, develop, manufactures and sells special packaging and display solutions to more than 22.000 jeweler, watch- and glass retailers across Europe. Furthermore, Westpack provides tailormade solutions to more than 300 jewelry, watch and glass brands globally. The company is head quartered in Holstebro with its administration, sales and production. In Denmark, the company employs 150 people. Furthermore, Westpack has its own sourcing setup in China and Indonesia, where the company employs 30 people. Westpack was founded in Holstebro in 1953.

About Adelis Equity Partners

Adelis is a growth partner for well-positioned, Nordic companies. Adelis partners with management and/or owners to build businesses in growth segments and with strong market positions. Since raising its first fund in 2013, Adelis has been one of the most active investors in the Nordic middle-market, making 30 platform investments and more than 120 add-on acquisitions. Adelis today manages approximately €2 billion in capital. For more information, please visit www.adelisequity.com.

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Aurora Capital Partners Acquires Spray-Tek, LLC

Aurora Capital

LOS ANGELES, Dec. 20, 2021 /PRNewswire/ — Aurora Capital Partners (“Aurora”), a leading middle-market private equity firm, today announced that it has acquired Spray-Tek, LLC (“Spray-Tek” or “The Company”), North America’s leading provider of specialized spray drying and ingredient processing solutions. Terms of the transaction were not disclosed.

Founded in 1980, Spray-Tek is the largest independent provider of specialty spray drying and ingredient processing solutions, principally serving the food and beverage, personal and home care, and pharmaceutical and nutraceutical end markets. The Company is trusted by its global, blue-chip customers to produce a variety of distinctive and complex flavors, fragrances, and ingredients for many of the world’s most recognizable brands. Spray-Tek operates facilities in New Jersey and Pennsylvania and is on track to open a new state-of-the-art facility in Beloit, Wisconsin in early 2022. The Company leverages its proprietary dryer technology, deep process knowhow, and culture of operational excellence to offer the market’s broadest range of technical capabilities and spray-drying capacity.

“David and his team have built a tremendous platform, and we are thrilled to partner with them as the Company continues to accelerate its growth,” said Randy Moser, Partner at Aurora.  “The Company’s relentless focus on quality, process innovation, and customer service has allowed it to become the market leader in an attractive, high-growth industry where there are significant opportunities for both organic and inorganic investment.”

“Spray-Tek is an excellent fit for Aurora’s investment mandate,” said Mark Rosenbaum, Partner at Aurora.  “We are excited to resource the many growth initiatives that David and his team have identified, which will allow Spray-Tek to solve even more of its customers’ pain points.  We thank David and his team for selecting us as his partners and look forward to capitalizing on the momentum they have built over the last several years.”

“Aurora shares our customer-first approach, with an unwavering commitment to delivering world-class quality and service,” said David A. Brand, President and CEO of Spray-Tek. “Their exceptional track record of working with management teams to accelerate growth makes Aurora the ideal partner for Spray-Tek.  With Aurora’s strategic and financial support, we will be able to increase our drying capacity and expand our portfolio of service offerings to best meet our customers’ needs as they continue to innovate and grow their own product portfolios.”

This transaction marks the sixth investment from Aurora Equity Partners VI, which was activated in September 2020. It follows several recent Aurora investments within the broader Industrial Technologies sector, including Cold Chain Technologies, Inhance Technologies, and Pace Analytical Services.

KeyBanc Capital Markets acted as exclusive financial advisor and McDermott Will & Emery LLP served as legal advisor to Spray-Tek on the transaction. Piper Sandler & Co. served as financial advisor and Gibson, Dunn & Crutcher LLP served as legal advisor to Aurora. Neuberger Berman Private Debt client funds provided debt financing for the transaction.

About Aurora Capital Partners
Aurora Capital Partners is a leading private equity firm focused principally on control investments in middle-market companies with leading market positions, stable industry dynamics, attractive business model characteristics and actionable opportunities for growth in partnership with management. Aurora provides unique resources to its portfolio companies through its Strategy & Operations Program and its team of experienced operating advisors. Aurora’s investors include leading public and corporate pension funds, endowments and foundations active in private equity investing. For more information about Aurora Capital Partners, visit: www.auroracap.com.

About Spray-Tek, LLC
Spray-Tek, LLC is the leading independent provider of specialty spray drying and ingredient processing solutions to the food and beverage, nutritional, pharmaceutical, nutraceutical, beauty & personal care, household products and soft chemical industries. The company was founded in Middlesex, NJ in 1980 and opened its Bethlehem, PA facility in 2002. Spray-Tek offers a wide breadth of spray drying and related ingredient processing capabilities, serving as an integral supplier and partner to its blue-chip customers.  Learn more about Spray-Tek and its capabilities here: www.Spray-Tek.com.

Aurora Media Contacts

Taylor Ingraham / Fred Schweinfurth
ASC Advisors
203-992-1230
tingraham@ascadvisors.com / fschweinfurth@ascadvisors.com

SOURCE Aurora Capital Partners

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Polyventive Acquires Tri-Tex, Further Expanding its Specialty Chemicals Portfolio

Arsenal Capital Partners

December 13, 2021

Calhoun, GA- Polyventive LLC (“Polyventive”) has acquired the Surfactants and Dyes & Pigments businesses of Tri-TexCo Inc and Trichromatic-West, Inc (jointly, “Tri-Tex”) from SK Capital Partners.

Tri-Tex is a specialty manufacturer of surfactants, dyes, pigments, and water-based polymers used in Textile, Personal Care, Cleaning and Industrial applications. Tri-Tex backs their products with comprehensive technical, applications, supply chain and logistics expertise. Tri-Tex has manufacturing facilities in Quebec, Canada and Los Angeles, California.

“The addition of the Tri-Tex team, product portfolio, applications expertise, and manufacturing facilities advance Polyventive’s strategy to become the premier North American developer and supplier of cost effective, environmentally forward solutions in all of our targeted growth areas.” said Zay Risinger, President of Polyventive.

Concurrent with this transaction, Tri-Tex sold its adhesives business to Meridian Adhesives Group.

About Polyventive LLC
Polyventive is a leading North American manufacturer of specialty chemical solutions for the HI&I, Water Treatment, Personal Care, Construction, Soft Floor Covering, and Textile industries. Polyventive’s manufacturing, technical capabilities, applications expertise, and focus on solving customer problems has made it the first choice for industry leading solutions. With manufacturing and logistics facilities located in Northwest Georgia, USA, the company has best in industry service levels that underpin our commitment to meeting our customer’s needs.

Contact: info@polyventive.com

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Arsenal and Seal For Life Announce Acquisitions of Mascoat and Verdia

Arsenal Capital Partners

December 17, 2021

New York, NY- Arsenal Capital Partners (“Arsenal”), a private equity firm that specializes in investments in industrial growth companies, announced today that its global industrial coatings platform, Seal For Life Industries (“Seal For Life”), has acquired Mascoat Ltd. (“Mascoat”) and Verdia, Inc. (“Verdia”), both privately owned specialty industrial coatings companies.

Mascoat, based out of Houston, TX, has been a leading manufacturer of thermal insulation coatings, anti-condensation, and sound damping coatings since 1995. The company serves a wide variety of industries with its coatings such as industrial, marine, commercial, and automotive applications. Mascoat has helped to develop new ways to solve corrosion under insulation with its insulation coatings and pioneered the use of its sound damping and anti-condensation coatings to the commercial and yacht sectors. The company has locations in The Netherlands and China, in addition to its base in Houston.

George More, President, CEO, and Founder of Mascoat, said, “We are delighted to become part of the Seal For Life platform. The combination of Mascoat’s industry-leading insulation and protective coatings with Seal For Life’s extensive coatings portfolio and global footprint will allow us to reach additional markets and customers, and will provide customers even more high-performance solutions to protect their critical infrastructure assets.”

Verdia is a leading polymer flooring manufacturer in the United States with deep expertise in polyurethane concrete flooring systems and offers a complete line of epoxies, polyurethane, and polyaspartics formulations. Inc. Magazine recognized Verdia as one of the Fastest Growing Companies in America for 2019. Verdia has been awarded USDA certification for its bio-based polyurethane floor coating produced from renewable and sustainable polymer sources. Verdia provides superior products, unparalleled customer service, and industry-leading technical support and focuses on providing long-lasting and environmentally conscious polymer solutions. The company is based in Conroe, TX.

Tony Crowell, President, CEO, and Founder of Verdia, remarked, “Joining the Seal For Life platform provides Verdia with the critical mass and market access it needs to continue its remarkable growth trajectory. Our customers consider polymeric floor coatings as critical technology for protecting their high-value infrastructure assets, and we look forward to expanding applications of our highly sustainable products around the world.”

Jeff Oravitz, CEO of Seal For Life, remarked, “We are very pleased to welcome the Mascoat and Verdia teams to the Seal For Life family, and look forward to working with them to accomplish our vision of being the leading global provider of protective coating and sealing solutions for infrastructure markets. The incorporation of these highly specialized industrial coatings companies into the Seal For Life platform increases our global scale and the ability to meet the needs of our many global customers.”

Aaron Wolfe, an Investment Partner of Arsenal, said, “Mascoat and Verdia bring exceptional coatings technologies to the Seal for Life platform and have an excellent market reputation for providing the highest level of performance and quality to meet demanding customer requirements. These businesses provide highly complementary technologies and build further scale for Seal For Life. We look forward to supporting these teams and investing in inorganic growth and completing additional acquisitions to continue to build Seal For Life’s position in the broader protective coatings and sealing solutions space for infrastructure applications.”

About Seal For Life

Seal For Life provides corrosion prevention, waterproofing, fire and heat protection, and insulation products. The company offers industrial liquid coating products to protect critical infrastructure, heat shrink sleeves to protect pipeline joints from corrosion and degradation, cathodic protection products, visco-elastic adhesive solutions to protect assets from corrosion and water ingress; and cold-applied, single wrap and fused tape products. It offers products for many markets, such as marine, splash zone and underwater installation, renewable energy, onshore oil, gas, and water pipelines, insulation, casing filler, flooring, refinery, linings, cathodic protection, cables and wires, and waste water applications. Visit www.sealforlife.com for more information.

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Francks Kylindustri continues its expansion in Norway through the acquisition of Invent

Segula

After the recently announced acquisition of Therma, Francks continues its Norwegian expansion through the acquisition of Invent AS in Bergen. Invent will together with Therma get a market leading position in Bergen. Invent has a long history and broad competence primarily in cooling and ventilation. The current owners will continue to develop the company in collaboration with Francks. Invent has a turnover of ca. NOK 35m.

 “We are very pleased that Invent – with its high competence and experience – has chosen to join Francks. Invent and Therma Bergen will form a strong team and get a market leading position in Bergen. Invent is a well-established family business with strong local roots that shares our vision and our values. It is very exciting to continue the future journey together when we now further expand our platform in Norway”, says Tomas Berggren, CEO of Francks Kylindustri.

“We are excited to be part of Francks and their expansion in Norway. Through our joint expertise, we will develop our offering in design, installation, and service to provide a stronger customer value proposition. Together with Francks and Therma, we look forward to leverage our joint base of expertise, experience and synergies to accelerate our growth in the expansive Bergen region” says Andreas Berg Peschina, CEO of Invent AS.

Francks Kylindustri is the leading Swedish provider of industrial and commercial refrigeration solutions with 28 offices across Sweden, from Malmö in the south to Luleå in the north.

For further information, please visit www.francksref.com or contact:

Marcus Planting-Bergloo, Managing Partner, Segulah Advisor AB
+46 70 229 11 85, planting@segulah.se

Tomas Berggren, CEO, Francks Kylindustri Sweden AB
+46 70 540 50 42, tomas.berggren@francksref.com

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Oakley agrees sale of TechInsights and follow-on investment

CVC Capital Partners

Oakley Capital Fund IV will acquire a majority stake alongside CVC Growth Funds to benefit from business’ strong future growth potential

Oakley Capital (“Oakley”) has announced that Oakley Capital Private Equity III (“Fund III”) has reached an agreement to sell its stake in TechInsights, an information services platform for the microelectronics sector. The exit will generate a gross return on investment of c.18.8x MM and c.82% IRR to Fund III. As part of the transaction, Oakley Capital Fund IV (“Fund IV”) will acquire a majority stake in TechInsights alongside CVC Growth Funds (“CVC Growth”) to benefit from the strong future growth potential of the business, as well as the significant strategic and sectoral synergies CVC Growth offers.

Fund III first invested in TechInsights in 2017 as a carveout from AXIO Group. During its period of ownership, Oakley has supported management in transforming the business model by shifting its revenue base from one-off projects to higher quality subscription revenues. The integration of three bolt-on acquisitions further strengthened its position as a leader in its field, and today TechInsights provides syndicated content to blue chip companies around the world.

The fresh investment from Fund IV and CVC Growth will support an ambitious, multi-year expansion programme to capitalise on promising growth opportunities that management have identified across TechInsights’ core markets and in new verticals. Management are fully committed to remaining with the business and TechInsights will continue to be led by CEO Gavin Carter.

Oakley Capital Managing Partner Peter Dubens commented: “Gavin and his team have transformed TechInsights into a highly successful subscription business, and we look forward to supporting them on the next stage of the company’s development. We’re also pleased to welcome CVC Growth as co-investors with their strong track record backing high-growth, technology and information services businesses.”

TechInsights CEO Gavin Carter commented: “Several years ago, on the foundation of our world-leading reverse engineering, we began to develop the go-to information platform for those interested in microelectronics. We have come a long way, yet there is much opportunity ahead in this innovation-fuelled sector. Continuing our strong partnership with Oakley and now with the support of CVC Growth, we initiate a new investment programme and embark on an ambitious growth plan, working with current and prospective customers to further develop our capability and platform.”

Sebastian Künne Managing Director at CVC Growth commented: “CVC has a proven track record of teaming up with like-minded investors to take businesses to the next level. We look forward to partnering with Oakley Capital and working closely with Gavin and his team to continue building a leading information services platform for the microelectronics industry.”

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KKR Completes Acquisition of Bettcher Industries and Names Dan Daniel Chairman

KKR

NEW YORK–(BUSINESS WIRE)– Bettcher Industries (“Bettcher” or the “Company”), a leading manufacturer and supplier of food processing equipment and associated aftermarket parts and consumables, and KKR, a leading global investment firm, today announced the completion of KKR’s acquisition of Bettcher from MPE Partners.

Effective upon the transaction close, Dan Daniel, a KKR Executive Advisor, will assume the role of Chairman of Bettcher. Mr. Daniel will support Tim Swanson, CEO of Bettcher, in setting the strategic direction of the company and in overseeing Bettcher’s operating performance.

“Bettcher is a great business and an iconic brand, and I am honored to support the Company in its growth ambitions from here,” said Mr. Daniel. “Through continued growth and accretive acquisitions, we can together build Bettcher into a scaled leader in food processing automation equipment and I look forward to working alongside the Bettcher management team and KKR to do exactly that,” said Mr. Daniel.

Mr. Daniel has three decades of experience leading U.S. industrial companies, most recently serving as an Executive Vice President at Danaher from 2008 through March 2020. During his 14 years as an Executive Officer at Danaher, Mr. Daniel directly managed Danaher’s Industrial Technologies and Life Sciences portfolios until 2017, and, from 2017 until his retirement in March 2020, directly managed the company’s Diagnostics and Dental segments.

“I am excited to be partnering with KKR and Dan as they share our vision at Bettcher of driving continued innovation while providing outstanding support to our customers. Together, we will be able to build upon Bettcher’s legacy to partner with our customers in new and expanded ways,” said Mr. Swanson.

KKR will also be supporting Bettcher in implementing KKR’s broad-based employee engagement model at the Company. Since 2011, KKR’s Industrials team has focused on employee engagement as a key driver in building stronger businesses. The strategy’s cornerstone has been to allow all employees to take part in the benefits of ownership by granting them the opportunity to participate in the equity return alongside KKR. Beyond sharing ownership, KKR also supports employee engagement by investing in training across multiple functional areas and by partnering with the workforce to give back to the community.

About Bettcher Industries

Headquartered in Birmingham, Ohio, Bettcher is a leading developer and manufacturer of innovative equipment in the food processing and medical device industries. The Bettcher portfolio includes the following: Bettcher, a designer and manufacturer of handheld trimmers, tools, and cutting consumables for all protein applications; Cantrell-Gainco, a manufacturer of processing equipment and yield enhancement and yield tracking systems for various protein operations; ICB Greenline, an aftermarket replacement parts and services company focused on poultry processing; and, Exsurco Medical, a leading-edge medical device company that provides innovative products and services to transform surgical grafting, debridement, and recovery outcomes for patients with burn and trauma wounds.

About KKR

KKR is a leading global investment firm that offers alternative asset management and capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of The Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

For Bettcher Industries:
Bryan Hesse
(440) 204-3291
BryanHesse@bettcher.com

For KKR:
Cara Major or Julia Kosygina
(212) 750-8300
media@kkr.com

Source: KKR

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H.I.G. Europe Completes the Acquisition of Standard Hidraulica

H.I.G. Europe

MADRID – December 14, 2021 – H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with over $45 billion of equity capital under management, announced that one of its affiliates acquired Standard Hidraulica (“STH” or the “Company”), an international industrial group with a leading presence in the plumbing supplies category, previously part of industrial technology company Aalberts N.V. which is listed at the Euronext stock exchange in Amsterdam, the Netherlands. H.I.G. plans to accelerate the Company’s growth and lead a consolidation in its core markets.

STH is headquartered in Montcada i Reixac (Barcelona, Spain), and operates subsidiaries in Pinto (Madrid, Spain), United Kingdom (Leigh, Greater Manchester), South Africa (Johannesburg, Port Elizabeth and Cape Town), and Greece (Acharnes, Athens).

Jaime Bergel, Managing Director of H.I.G. Spain, said: “We are committed to supporting the senior leadership team of STH in achieving their ambitious business plan which should translate in substantial growth over the coming years. As part of the transaction, H.I.G. will support STH in its transition to an independent company while accelerating its customer-focused expansion in the local and international markets.”

Jaume Llacuna, CEO of STH said: “The investment by H.I.G. is great news for STH and its stakeholders. STH is recognised as one of the market leaders across many of our businesses and the categories that we operate in. I am very excited to work with the team at H.I.G. to capitalise on the enormous potential for growth we have within our local and international geographies. We are well positioned to push forward with our plans for organic and inorganic growth. Our collective commitment, energy and passion will be at the heart of our future success. Together with H.I.G., we look forward to building an even stronger business in the coming years.”

About Standard Hidraulica
STH was founded in 1975 in Montcada i Reixac (Barcelona). With a philosophy based on product quality, customer service, constant technological research and respect for the environment, STH has become a reference partner in the water and gas connection and control, kitchen and bathroom taps in both residential and non-residential areas, and civil works such as water and gas distribution networks. STH is certified with ISO 9001 and ISO 14001. For more information, please refer to the STH website: https://www.standardhidraulica.com.

About H.I.G. Capital
H.I.G. is a leading global alternative assets investment firm with over $45 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro and São Paulo, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/value-added approach:

  1. H.I.G.’s equity funds invest in management buyouts, recapitalizations and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
  2. H.I.G.’s debt funds invest in senior, unitranche and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. is also a leading CLO manager, through its WhiteHorse family of vehicles, and manages a publicly traded BDC, WhiteHorse Finance.
  3. H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.
  4. H.I.G. Infrastructure focuses on making value-add and core plus investments in the infrastructure sector.

Since its founding in 1993, H.I.G. has invested in and managed more than 300 companies worldwide. The firm’s current portfolio includes more than 100 companies with combined sales in excess of $30 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.

H.I.G. European Capital Partners Spain is a legally independent advisor to H.I.G. Capital LLC, H.I.G. Europe Capital Partners, L.P., H.I.G. Europe Capital Partners II, L.P. and H.I.G. Europe Capital Partners III, L.P.

* Based on total capital commitments managed by H.I.G. Capital and affiliates.

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