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

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

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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