Vantage Specialty Chemicals Completes Acquisition of B&B Tritech
MIAMI – April 17, 2018 – H.I.G. Capital, LLC (“H.I.G.”), a leading global private equity investment firm with $25 billion of equity capital under management,* is pleased to announce that its portfolio company, Vantage Specialty Chemicals Holdings, Inc. (“Vantage” or the “Company”), a leading, vertically-integrated provider of naturally derived ingredients, has acquired B&B Tritech, Inc. (“B&B”).
Located in Hialeah, Florida, B&B is a leading global manufacturer of surface treatment solutions engineered for defense and commercial aviation markets. For over 60 years, B&B has developed and manufactured best-in-class aircraft paint removers, MIL-spec cleaners, turbine engine gas path cleaners, exterior aircraft cleaners and other surface treatments to exceed industry standards for performance, compatibility and safety.
“We are excited about the addition of B&B’s product offering to Vantage’s cleaning and aerospace portfolio,” commented Richard McEvoy, Chief Executive Officer of Vantage. “B&B is an excellent strategic fit with Vantage’s Performance Materials division and provides complementary products to serve our growing aerospace segment. We look forward to growing the business with new and existing customers by leveraging Vantage’s sales and supply chain footprint globally.”
“We are pleased to support Vantage in its acquisition of B&B which fits squarely within the Company’s strategy of acquiring unique and complementary technologies in our existing end markets,” added Keval Patel, Managing Director at H.I.G.
B&B is the first add-on acquisition that Vantage has completed since H.I.G. acquired the Company in October 2017.
About B&B Tritech, Inc.
Founded in 1953 and headquartered in Hialeah, FL, B&B manufactures chemical compounds and solutions used primarily by the aviation industry for cleaning, paint removal, and de-greasing of aircraft and aircraft components. The company sells a diversified portfolio of products to customers worldwide that are used on a variety of aircraft.
Vantage is a leading producer of naturally derived, specialty ingredients focused on Personal Care, Food, Consumer Care and Industrial end markets with a portfolio of over 2,000 products. Headquartered in Chicago, IL, Vantage operates a global manufacturing and supply chain across 6 manufacturing facilities, 13 formulation laboratories and 19 distribution warehouses located in 14 countries across the United States, Latin America, South Africa, Europe, and Asia. For more information, visit http://www.vantagespecialties.com.
About H.I.G. Capital
H.I.G. is a leading global private equity and alternative assets investment firm with $25 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, Mexico City and Rio de Janeiro, 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:
- 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.
- 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.
- H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.
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.
* Based on total capital commitments managed by H.I.G. Capital and affiliates.