H.I.G. Capital News
Fabian de Armas
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H.I.G. Completes Sale of Vaupell to Sumitomo Bakelite
MIAMI – June 17, 2014 – H.I.G. Capital, LLC (“H.I.G.”), a leading global private equity investment firm, today announced that an affiliate has completed the previously announced sale of its portfolio company Vaupell Holdings, Inc. (“Vaupell” or the “Company”) to Sumitomo Bakelite, Co., Ltd. for $265 million. Headquartered in Seattle, WA, Vaupell is a global leader in the development and production of thermoplastic and composite solutions to the aerospace industry as well as niche commercial and medical applications.
“H.I.G. has been a tremendous partner to Vaupell and has been instrumental in helping us establish and execute our growth strategy,” said Joe Jahn, Chief Executive Officer of Vaupell.
"We are very proud of what we have accomplished together with the Vaupell management team,” commented Jeff Zanarini, a Managing Director of H.I.G. “The Company achieved significant revenue and EBITDA growth during our ownership, which yielded an outstanding investment outcome for Vaupell management, H.I.G. and its investors. We have every confidence that the Company will continue its pioneering leadership as a member of the Sumitomo Bakelite Aerospace division.”
Vaupell was founded in Seattle, Washington in 1947 and supplied the first plastic parts to The Boeing Company. Vaupell designs, engineers, and produces custom, high performance engineered plastic and composite components and assemblies for demanding applications. The Company is a global leader in plastics components and assemblies for aircraft interiors while also serving the broader aerospace, defense, medical, and commercial markets. Vaupell provides engineered solutions to top tier OEMs, market-leading growth companies, and promising start-ups. Collaboration with our customers in all phases of the product life cycle results in the highest value solutions that reduce time to market, manage risk and control costs.
About H.I.G. Capital
H.I.G. is a leading global private equity investment firm with more than $15 billion of equity capital under management. Based in Miami, and with offices in Atlanta, Boston, Chicago, Dallas, New York and San Francisco in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris and Rio de Janeiro, 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. 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 80 companies with combined sales in excess of $30 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.