H.I.G. Capital has acquired Spain-based Standard Hidraulica, a provider of plumbing supplies. No financial terms were disclosed. The seller was Aalberts NV.
MADRID – December 14, 2021 – H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with over $45 billion of equity capital under management, announced that one of its affiliates acquired Standard Hidraulica (“STH” or the “Company”), an international industrial group with a leading presence in the plumbing supplies category, previously part of industrial technology company Aalberts N.V. which is listed at the Euronext stock exchange in Amsterdam, the Netherlands. H.I.G. plans to accelerate the Company’s growth and lead a consolidation in its core markets.
STH is headquartered in Montcada i Reixac (Barcelona, Spain), and operates subsidiaries in Pinto (Madrid, Spain), United Kingdom (Leigh, Greater Manchester), South Africa (Johannesburg, Port Elizabeth and Cape Town), and Greece (Acharnes, Athens).
Jaime Bergel, Managing Director of H.I.G. Spain, said: “We are committed to supporting the senior leadership team of STH in achieving their ambitious business plan which should translate in substantial growth over the coming years. As part of the transaction, H.I.G. will support STH in its transition to an independent company while accelerating its customer-focused expansion in the local and international markets.”
Jaume Llacuna, CEO of STH said: “The investment by H.I.G. is great news for STH and its stakeholders. STH is recognised as one of the market leaders across many of our businesses and the categories that we operate in. I am very excited to work with the team at H.I.G. to capitalise on the enormous potential for growth we have within our local and international geographies. We are well positioned to push forward with our plans for organic and inorganic growth. Our collective commitment, energy and passion will be at the heart of our future success. Together with H.I.G., we look forward to building an even stronger business in the coming years.”
About Standard Hidraulica
STH was founded in 1975 in Montcada i Reixac (Barcelona). With a philosophy based on product quality, customer service, constant technological research and respect for the environment, STH has become a reference partner in the water and gas connection and control, kitchen and bathroom taps in both residential and non-residential areas, and civil works such as water and gas distribution networks. STH is certified with ISO 9001 and ISO 14001. For more information, please refer to the STH website: https://www.standardhidraulica.com.