MIAMI – April 20, 2016 – H.I.G. Capital (“H.I.G.”), a leading global private equity investment firm with $19 billion of equity capital under management, is pleased to announce that its portfolio company Valtris Specialty Chemicals (“Valtris” or the “Company”) has acquired Akcros Holdings Limited (“Akcros”). Valtris is a leading manufacturer of specialty chemicals primarily used as additives in the production and processing of polymers, sealants, and chemical intermediates and was carved-out of Ferro Corporation by H.I.G. in December of 2014.
Akcros Chemicals is a provider of specialty chemicals used as additives in the production and processing of polymers, paint, and coatings with operations in both Europe and North America. Akcros is well known to its customers for is strong R&D capabilities, customer service orientation and breadth of product offering. Akcros has two primary manufacturing sites in Eccles, U.K. and New Brunswick, NJ with additional production capability in Mumbai, India and Guangzhou, China. The acquisition of Akcros will provide additional manufacturing capabilities, increased product breadth and a global presence helping Valtris expand as a leading global player in the polymer additives industry.
Paul Angus, CEO of Valtris, said, “Akcros is a highly strategic and complementary acquisition for us, providing new and multiple avenues for growth. There are significant opportunities to enhance our product offerings and provide more value to our customers. In addition, Valtris will now be a leading player not only in North America but also in Europe, a major goal of ours.”
Richard Catchpole, CEO of Akcros, commented, “We are excited to partner with Valtris. Strategically, Akcros will benefit from being part of a larger polymer additives platform and we are looking forward to expanding Valtris’ capabilities to deliver the very best products to our customers and to grow the overall business on a global level.”
Keval Patel, Managing Director of H.I.G. Capital, said, “Akcros is an industry leader in Europe in a number of product lines that are highly complementary to Valtris and has an excellent track record of quality and consistency. We are impressed with Akcros’ talented management team and believe they will thrive as part of the Valtris family. We are pleased to support this acquisition and continue to be excited regarding the Company’s future prospects.”
H.I.G. continues to be very active in the chemical sector as Akcros highlights the eleventh acquisition that H.I.G. has completed in the space since 2008 and fourth in the last two years.
Akcros was advised by CIM Partners, Gately PLC and Grant Thornton on this transaction.
About Valtris Specialty ChemicalsFormerly the Polymer Additives Division of Ferro Corporation, Valtris is a leading provider of specialty chemicals, serving industries as diverse as building and construction, packaging, consumer goods, transportation and oilfield additives. Headquartered in Independence, Ohio, and with seven facilities operating globally, Valtris offers a range of complimentary products for the specific needs of its diverse customer base and continues to be a leader in reliability, responsibility, and quality in the specialty chemicals world. For more information, please visit www.valtris.com.
About Akcros Holdings Limited
With its origins dating back to 1937, Akcros is one of the world leaders in the field of additives for the processing and manufacturing of polymers, such as polyvinylchloride, polyurethane, polyolefins and is a specialty supplier of additives to the sealants, paint and coatings markets. Akcros delivers technical solutions from its manufacturing units in Europe, USA, India and China and has a proven track record of producing products of the highest quality, efficiency and reliability.
About H.I.G. Capital
H.I.G. is a leading global private equity and alternative assets investment firm with $19 billion of equity capital under management.* Based in Miami, and with offices in Atlanta, Boston, Chicago, Dallas, Los Angeles, 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 both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/ value-added approach. 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.
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