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.

Charlesbank Capital Partners announced today that it has acquired BOX Partners (“BOX” or the “Company”), a leading technology-enabled supplier of packaging, shipping, industrial supplies and related products for the e-commerce and distribution markets. Family-owned since its 1989 inception, the Company has grown to one of the country’s largest wholesalers of packaging products. Headquartered in Elgin, Illinois, the Company has approximately 400 employees. The transaction, which was funded with both equity and debt, introduces the first outside equity for the company.

BOX competes in the $70 billion packaging and shipping supplies end-market. The Company partners with distributors, offering them broad product selection, distribution expertise and marketing tools to compete with even the largest competitors in the industry. The Company is distinguished by its ability to aggregate and efficiently fulfill millions of orders on behalf of its distributor partners, providing access to over 1,000,000 square feet of virtual warehouse space with over 20,000 items. BOX operates nationwide out of its warehouse in Illinois.

In conjunction with the transaction, BOX’s Co-founder and President will step down, and Neil Thomas will become the new CEO. Mr. Thomas is well-known to Charlesbank from his prior role as CEO of Trojan Battery, a family-founded business that Charlesbank owned from 2013-2018.  Other members of the current leadership team will remain in their current roles.

Mr. Thomas said, “I’m very pleased to join BOX at this exciting time. The Company is well-positioned to expand in new product categories and geographies and to optimize and broaden its use of e-commerce platforms. I look forward to leveraging my experience to help this talented management team continue to excel and strengthen its industry presence.”

Added Brandon White, Charlesbank Managing Director, “BOX is a well-respected brand in the packaging industry with a strong competitive position and a firm commitment to excellent quality and service. We are excited to partner again with Neil, who brings strong leadership skills and an impressive track record in building value across multiple brands and businesses.”

Mesirow served as financial advisor to BOX Partners on the transaction.

AE Industrial’s Cross-Fire & Security Acquires NISCO, a Provider of Fire Alarm and Life Safety Solutions Across the Northeastern United States

AE Industrial Completes Second Add-on to its Fire and Life Safety Services Platform

Brooklyn, NY, December 2, 2021 – Cross-Fire & Security Co., Inc., (“Cross-Fire”), a full-service life safety company specializing in the design, engineering, installation, maintenance, monitoring and servicing of state-of-the-art fire and life safety systems, announced today it has acquired NISCO, Inc. which is comprised of Northeast Integrated Systems and Northeast Fire Systems, Inc (collectively “NISCO” or “the Company”), a provider of fire alarm and life safety solutions across the Northeastern United States. Terms of the transaction were not disclosed.

NISCO marks the second add-on acquisition completed by Cross-Fire, a fire and life safety services platform established by AE Industrial Partners. Cross-Fire announced the addition of Alarm & Suppression, Inc. (“A&S”) on November 30, 2021, and is actively seeking additional acquisitions to expand its capabilities and geographic footprint.

Founded in 1982 by James Yantosca, Sr. and Sheryl Yantosca, NISCO has grown to become a leader in critical fire alarm and life safety solutions for commercial customers in Massachusetts and New Hampshire, serving the education, commercial, office, healthcare and pharmaceutical end markets. Through Northeast Integrated Systems, the Company provides project management and on-site support services to engineers, contractors, and end-user project managers. Among the services provided by Northeast Fire Systems are fire alarm detection system installation, testing, maintenance and upgrades; sprinkler system testing and maintenance; life safety testing, integration and consulting; and central station monitoring services. With offices in Malden and Worcester, MA, NISCO is a Premier authorized engineered systems distributor of Honeywell’s Notifier products and was previously named a Notifier U.S. Distributor of the Year. NISCO will continue to be led by its President James Yantosca, Jr.

“We are fortunate to have identified another strong player in fire and life safety services that creates significant scale for Cross-Fire in the Northeast,” said Peter Schumacher, Partner at AEI. “NISCO has an outstanding reputation for customer service, which is supported by one of the most knowledgeable technical teams in the industry. We’re confident that the addition of NISCO to Cross-Fire will benefit both customers and employees alike.”

Cross-Fire has partnered with key industry executives on this platform investment, including Kelly Romano, Chair of the Board, and Ed Cettina, Board Member. Ms. Romano, an AEI Operating Partner, has deep sector experience in fire & security and commercial building industries, including over 30 years in executive roles at United Technologies Corporation (UTC). Mr. Cettina most recently was the Global COO of the Construction Management business of AECOM, and previously worked for 24 years in senior roles at Tishman Construction.

“We have known the Yantosca family for more than 20 years and we’re excited to finally work together to deliver the best solutions in the industry,” said Brendan Doorly and Kevin Maguire, co-founders of Cross-Fire. “Coming on the heels of our acquisition of A&S last month, we are making strong progress in our mission to become a preeminent fire and life safety company offering a full suite of services.”

“We look forward to partnering with Brendan and Kevin, two industry leaders whom our team has respected and known for many years,” said James Yantosca, Jr. “With the backing of Cross-Fire and AE Industrial, NISCO will be better positioned to take advantage of the significant new opportunities in the industry.”

“From my decades at Honeywell, I know first-hand that achieving Notifier Distributor of the Year is an impressive accomplishment, and I’m thrilled to be working alongside a top-tier team with a stellar reputation,” said Robert V. Rex, Senior Vice President of Growth & Strategy, at Cross-Fire.

About NISCO
Founded in 1982 and based in Malden and Worcester, MA, NISCO is a leader in critical fire alarm and life safety solutions for commercial customers in Massachusetts and New Hampshire, serving the education, commercial office, healthcare and pharmaceutical end markets. For more information, visit www.northeastintegratedsystems.com and www.northeastfiresystems.com.

About Cross-Fire & Security Co.
Founded in 1993 and headquartered in Brooklyn, NY, Cross-Fire & Security Co. is a full-service life safety company specializing in the design, engineering, installation, maintenance, monitoring and servicing of state-of-the-art fire and life safety systems. Its dedicated team of highly skilled and certified project managers and technicians manage all aspects of a project, from the design phase through final inspection, using state-of-the-art solutions and technology. For more information and to see a sample list of Cross-Fire’s projects, please visit www.cfsnyc.com.

About AE Industrial Partners
AE Industrial Partners is a private equity firm specializing in Aerospace, Defense & Government Services, Space, Power & Utility Services, and Specialty Industrial markets. AE Industrial Partners invests in market-leading companies that can benefit from our deep industry knowledge, operating experience, and relationships throughout our target markets. AE Industrial Partners is a signatory to the United Nations Principles for Responsible Investment and the ILPA Diversity in Action initiative. Learn more at Learn more at www.aeroequity.com.

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Lambert & Co.
Jennifer Hurson
(845) 507-0571
jhurson@lambert.com

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Caroline Luz
203-656-2829
cluz@lambert.com

• Close of a £10 million Series A financing round for sustainable packaging start-up Notpla
• Round led by Horizons Ventures, with participation from existing investors Astanor Ventures, Lupa Systems and Torch Capital.
• Funding will accelerate the commercialization of Oohos and Notpla coating, and will support the industrialization of new innovative Notpla products, including flexible films and paper.

Sustainable packaging startup Notpla announced today the close of a £10 million Series A financing round. The round was led by Horizons Ventures, with participation from existing investors Astanor Ventures, Lupa Systems and Torch Capital.

Founded in 2014 by two Imperial College London and Royal College of Art alumni, Rodrigo Garcia Gonzalez and Pierre-Yves Paslier, Notpla’s mission is to make packaging disappear by providing a sustainable alternative to plastic packaging using seaweed. This new round of funding will enable the London startup to grow its manufacturing capacity while developing new innovative solutions, among which a transparent flexible film and a seaweed paper.

Notpla (a play on the term ‘Not Plastic’) is harnessing the power of seaweed to replace single-use plastic, one of the leading causes of environmental pollution across the globe. The UN Environment Programme estimates that only 9% of all plastic waste ever produced has been recycled, while 12% has been incinerated and the remaining 79% has accumulated in landfills, dumps, or the natural environment.

Seaweed is one of the planet’s most abundant sources of biomass (growing at a rate up to 1 metre per day), its production does not compete with food crops, requires no fertiliser or fresh water to produce and actively sequesters carbon dioxide. In line with the new EU Single-Use Plastic Directive which aims to ban synthetic materials such as PLA, PHA and other bioplastics, Notpla’s products easily biodegrade in nature in just 4-6 weeks without the need for industrial composting or special conditions. The EU’s ambitious targets cannot be achieved without innovative solutions like Notpla.

Notpla is best known for its sustainable packaging solution “Ooho” – an edible and fully biodegradable packaging made of seaweed – to date, Oohos has replaced over 500,000 single-use plastic packaging at major international events such as the London Marathon with Lucozade and London Cocktail Week with Glenlivet.

Notpla launched in 2021 the first seaweed coating for cardboard packaging. Unlike regular boxes, the Notpla boxes are biodegradable and recyclable. Successful trials of 30,000 boxes led to the commercial launch of the Notpla box with Just Eat Takeaway.com to hundreds of UK restaurants. This innovative packaging will progressively expand to Just Eat’s 26 countries and onboard new customers in the foodservice industry.

The startup’s product pipeline is filling up with exciting new plastic-free solutions. This latest funding round will help accelerate the industrialisation of Notpla’s flexible, biodegradable films – a packaging alternative for dry products that are currently in plastic sachets. Applications include packaging for hygiene, cleaning products such as detergents or pre-portioned foods such as pasta, coffee and drink flavourings. With no other readily biodegradable, biobased, and flexible solutions on the market, these applications are in high demand from brands that are struggling to effectively remove plastic from their product ranges. Notpla has completed successful lab trials and is now currently working on scaling up the process with several commercial partners.

The funds will also support the development of Notpla’s seaweed fibre paper made from the by-products of the company’s industrial processes. This seaweed paper requires 30% less wood pulp than conventional paper, lowering pressure on forests while reducing waste from the seaweed supply chain, making it a first-class sustainable solution. Notpla is collaborating with fashion and luxury brands to develop premium sustainable solutions for secondary packaging such as boxes, envelopes or sleeves.

Wayne Cheng, Portfolio Curator at Horizons Ventures, said: “We are excited to join Notpla’s journey to make packaging disappear. Conscious of the urgency to act on single-use plastic pollution, we’ve been impressed by the innovative solutions offered by this team of ambitious entrepreneurs. We believe Notpla is revolutionising the packaging industry with seaweed as a raw material.”

Pierre-Yves Paslier, Co-CEO of Notpla added: “We are delighted to accelerate the pace towards a zero single-use plastic future. This new round coupled with soon-to-be-announced commercial partnerships is the perfect opportunity to put seaweed on the map of packaging solutions. At Notpla we believe that “Nature knows best”, and we only use naturally occurring materials that have had millions of years to adapt with the rest of the environment. Our new films and seaweed paper are great examples of this principle and are the most sustainable solution in their categories. We’re excited to see traction in the food service industry and are looking forward to moving into the cosmetics and fashion markets very soon.”

For more information, visit www.notpla.com

For pictures and videos, discover Notpla press pack

-Ends –

About Notpla (www.notpla.com)

Founded in 2014, Notpla is a sustainable packaging company based in London that has pioneered the use of seaweed as an alternative to single-use plastic. The startup is addressing both the environmental and health implications of single-use plastic pollution by using only natural materials like seaweed that can biodegrade in nature in 4 to 6 weeks. Notpla has received multiple awards and grants from Innovate UK and the Ellen Macarthur Foundation for its innovative product “Ooho” – an edible and fully biodegradable sachet.

About Horizons Ventures (www.horizonsventures.com)

Horizons Ventures was co-founded by Solina Chau and Debbie Chang in 2005. It is known for backing era-defining companies making lasting and positive impact in the world. Amongst its string of notable early stage investments are Zoom, Impossible Foods, Perfect Day, Spotify, Siri and DeepMind, reflecting Horizons Ventures’ methodical long-term investment approach.

About Astanor Ventures (www.astanor.com)

Astanor Ventures is a global impact investor that backs ambitious entrepreneurs with disruptive, scalable solutions that will create systemic change across the agrifood value chain, from soil to gut. They partner with ambitious, impact-driven founders who are committed to restoring balance and sustainability to the land and oceans, prioritizing nature and culture, nurturing change and feeding growth.

For further information, or to arrange an interview, please email info@notpla.com