H.I.G. Capital News
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H.I.G. Completes Acquisition of American Pacific Corporation
SAN FRANCISCO – February 27, 2014 – H.I.G. Capital, LLC, a leading global private equity investment firm, announced today that an affiliate completed the acquisition of American Pacific Corporation (“AMPAC”), a leading manufacturer of fine and specialty chemicals serving the pharmaceutical and aerospace and defense industries, in a take private transaction.
Headquartered in Las Vegas, NV, the Company operates under two primary business segments. The Fine Chemicals segment is a market leader in the manufacture of pharmaceutical ingredients, including active pharmaceutical ingredients and registered intermediates. The Specialty Chemicals segment is the sole North American producer of ammonium perchlorate, the mission-critical oxidizing agent for solid propellant rockets, booster motors and missiles used in government and commercial aerospace and defense programs.
Joe Carleone, CEO of AMPAC, commented, "We are very excited about this next stage for AMPAC. Our partnership with H.I.G. provides us with financial and operating resources that will enable us to further capitalize on market opportunities and to realize our significant growth potential."
"We are pleased to support Joe and his team in their growth and continued success," added Fraser Preston, a Managing Director of H.I.G. "AMPAC is a market leader with a long track record of delivering custom, high-quality products, utilizing difficult chemistries and specialized equipment and processes. We look forward to helping AMPAC further enhance its technology platform and production and service capabilities.”
Financing for the transaction was provided by Jefferies LLC and Credit Suisse Securities (USA) LLC.
About American Pacific Corporation
American Pacific Corporation is a leading custom manufacturer of fine chemicals and specialty chemicals within its focused markets. AMPAC supplies active pharmaceutical ingredients and advanced intermediates to the pharmaceutical industry. For the aerospace and defense industry, it provides specialty chemicals used in solid rocket motors for space launch and military missiles. AMPAC produces clean agent chemicals for the fire protection industry, as well as electro-chemical equipment for the water treatment industry. AMPAC’s products are designed to meet customer specifications and often must meet certain governmental and regulatory approvals. Additional information about AMPAC can be obtained by visiting its website at www.apfc.com.
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.