Bayside Capital, a special situation investment firm and affiliate of H.I.G. Capital, has wrapped up the sale of portfolio company Environmental Filtration Technologies. The buyer was Nederman Holding AB. Charlotte, N.C.-based Environmental Filtration is an industrial air filtration provider. Terms of the deal were not released.
Bayside Capital, Inc. (“Bayside Capital” or “Bayside”), a special situation investment firm and affiliate of H.I.G. Capital, announced today that it has completed the sale of portfolio company Environmental Filtration Technologies, LLC (“EFT”) to Nederman Holding AB.
Based in Charlotte, North Carolina, and with locations across North America, Germany, France and Australia, EFT is one of the world’s leading industrial air filtration companies. EFT offers air pollution control and air filtration equipment, including industrial dust collectors, baghouses, air and liquid filtration systems, filter bags and cartridges, as well as equipment and engineered systems for evaporation and distillation. EFT markets its products under the globally-recognized MikroPul, Menardi, Filtex and Filter-Media, LCI and Pneumafil brands.
After investing in EFT, Bayside restructured the company’s balance sheet, narrowed its breadth of operations through business unit divestitures and provided the capital and resources to grow its core filtration platform. Doug Albert, EFT’s President and Chief Executive Officer commented “Bayside has been a tremendous partner to EFT and has been instrumental in helping us establish and execute our strategy to become a leader in the filtration market.”
“Our partnership with EFT and its management team has been a tremendous success. They executed a detailed strategic plan by investing in their global sourcing capabilities, developing efficient project management processes and leveraging their underutilized installed base of large systems to sell aftermarket products and services. EFT is very well positioned and we look forward to watching them continue to grow as part of Nederman,” said John Bolduc, Executive Managing Director of Bayside Capital.
About Bayside Capital
Bayside Capital is an affiliate of H.I.G. Capital, a leading global private investment firm with more than $10 billion of equity capital under management. With over $4.5 billion of committed capital, Bayside is focused on providing capital solutions to address complex situations within short timeframes. Through improved access to capital or facilitating balance sheet realignments, Bayside can help support future strategies and expansion plans. Bayside has the ability to provide capital through a broad range of securities including asset-based and cash flow senior and subordinated debt, equity, debtor-in-possession facilities, and special situation loans. Bayside has the experience and resources to help companies quickly resume growth initiatives and improve their strategic position.