H.I.G. Capital News
H.I.G. European Capital Partners Italy S.r.l.
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H.I.G. Capital Acquires Texbond, a Leading Nonwoven Specialties Producer in Italy
MILAN – September 7, 2016 – H.I.G. Europe (“H.I.G.”), the European arm of global private equity firm H.I.G. Capital, announced today that it has acquired a controlling interest in Texbond, a producer of specialty polypropylene nonwovens. Founded in Rovereto (in the Trentino region of northern Italy) in 1988, Texbond specialises in nonwovens for specialty applications in the hygienic, medical, construction, automotive, household and agricultural industries. Terms were not disclosed.
With its continuous investment in R&D and a constant focus on process efficiency and innovation, Texbond is currently one of the leading European producers of artificial fibres with a leading position in the development and manufacture of specialty products.
The founder and Chairman, Giuseppe Gaspari, and the CEO, Cristina Parisi, have invested in the transaction alongside H.I.G., providing management continuity as well as technical and strategic expertise to support the growth plans.
Raffaele Legnani, Managing Director and head of H.I.G. in Italy, commented: “We believe that Texbond is a unique player in the industry which can serve as a platform for a buy and build strategy at a global level, capitalizing on H.I.G.’s international network and financial resources to support the development plan. Jonathan Bourget, senior advisor to H.I.G., with extensive experience in the industry, has also invested in the transaction and will assist us in scouting and analysing acquisition opportunities”.
Giuseppe Gaspari, Chairman of Texbond, added: “The partnership with H.I.G. represents an important milestone for the growth of Texbond that will allow us to expand our presence in Europe, which is a very fragmented market, and in the US. We believe that Texbond’s technical expertise and its highly effective management team, led by the CEO Cristina Parisi, are an important competitive advantage”.
Founded in Rovereto (in the Trentino region, northern Italy) in 1988 by Giuseppe Gaspari, Texbond is a leading European producer of specialty polypropylene nonwovens. Texbond’s products are designed and developed to meet specific technical client needs and are manufactured with highly sophisticated lines for specific “niche” applications in a number of industries, such as hygienic, medical, construction, automotive, household and agriculture.
About H.I.G. Capital
H.I.G. is a leading global private equity and alternative assets investment firm with over €18 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 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, recapitalisations 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 200 companies worldwide. The firm's current portfolio includes more than 100 companies with combined sales in excess of €22 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.