H.I.G. Capital Announces Acquisition of Teleflex Marine
NEW YORK, NY – March 22, 2011 – H.I.G. Capital, LLC (“H.I.G.”), a leading global private investment firm, announced the acquisition of the Marine business (“Teleflex Marine” or the “Company”) from Teleflex Incorporated by an affiliate of H.I.G. Headquartered in Litchfield, IL with operations around the world, Teleflex Marine is a leading provider of OEM and aftermarket steering and control products and accessories for the global recreational marine and related markets. The Company maintains industry leading market positions in the U.S. and internationally with its SeaStar, Sierra, BayStar, Prime Line, and Proheat brands.
Yvan Cote, the CEO of Teleflex Marine commented, “We are excited to team up with H.I.G. to grow our business and build on our market leading positions. As an independent entity, we will maintain our commitment to delivering the highest quality products and service to our customers, who have been the most important part of our success.”
Chris Laitala, a Managing Director at H.I.G. commented, “The management and employees of Teleflex Marine have demonstrated an excellent track record in sales growth, product quality, and product innovation. We look forward to working with the team to expand the scope of Teleflex Marine’s products and services while continuing to provide exceptional customer service.”
About Teleflex Marine
Teleflex Marine is the leading global provider of OEM and aftermarket products and accessories for the recreational marine and related markets. Sold around the world under the SeaStar, Sierra, BayStar, Prime Line, and Proheat brands, the Company’s products are recognized globally for their quality, reliability, and technical innovation. For more information, please refer to the Company’s website at www.teleflexmarine.com.
About H.I.G. Capital
H.I.G. Capital is a leading global private equity investment firm with more than $8.5 billion of equity capital under management. Based in Miami, and with offices in Atlanta, Boston, New York, and San Francisco in the U.S., as well as affiliate offices in London, Hamburg and Paris in Europe, H.I.G. specializes in providing capital to small and medium-sized companies with attractive growth potential. H.I.G. invests in management-led buyouts and recapitalizations of profitable and well managed manufacturing or service businesses. H.I.G. also has extensive experience with financial restructurings and operational turnarounds. Since its founding in 1993, H.I.G. has invested in and managed more than 200 companies worldwide. The firm’s current portfolio includes more than 50 companies with combined revenues in excess of $8 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.