Vantage Specialty Chemicals Holdings Inc, a portfolio company of H.I.G. Capital, has agreed to buy LEUNA-Tenside GmbH. Financial terms weren’t announced. LEUNA-Tenside, of Leuna, Germany, makes surfactants used in various end markets including personal care, soaps and detergents, industrial cleaning, lubricants, and paints and coatings. C.I.M. Partners advised Vantage on the transaction.
MIAMI–(BUSINESS WIRE)–H.I.G. Capital, LLC (“H.I.G.”), a leading global private equity investment firm with $30 billion of equity capital under management, is pleased to announce that its portfolio company, Vantage Specialty Chemicals Holdings, Inc. (“Vantage” or the “Company”), a leading, vertically-integrated provider of naturally derived ingredients, has signed a definitive agreement to acquire LEUNA-Tenside GmbH (“LTG”).
LTG is a leading manufacturer of high quality, specialty surfactants sold throughout Europe and globally. Located in Leuna, Germany, the company is focused on small volume, niche products supported by flexible manufacturing capabilities. LTG’s product portfolio includes anionic surfactants, nonionic surfactants, and emulsifiers that are based on naturally derived ingredients and are used in a diversified range of end markets including personal care, soaps and detergents, industrial cleaning, lubricants, and paints and coatings.
“The acquisition of LTG is a transformational transaction for Vantage that provides us with a strategic manufacturing footprint in Europe,” commented Tiffany Kyllmann, Chief Strategy Officer of Vantage. “LTG’s production facility is attractively located in Germany with products and chemistries that are similar to those of Vantage. We truly believe this efficient production facility and impressive technology, in combination with the European footprint, will allow us to better serve our global customer base.”
“We are very excited to add LTG to the Vantage platform,” commented Keval Patel, Managing Director at H.I.G. “This transaction fits our core strategic plan of expanding our manufacturing footprint globally with a core focus on the specialty personal care and food ingredients market. We are very excited to partner with the LTG team as we grow our European business.”
LTG is the third add-on acquisition that Vantage has completed since H.I.G. acquired the Company in October 2017.
The transaction is subject to regulatory approval and is expected to close by year-end 2018.
C.I.M. Partners advised Vantage on the transaction.
About LEUNA-Tenside GmbH
LEUNA-Tenside is a market leader in niche, specialty surfactant production sold throughout Europe and globally. Surfactants are vital ingredients utilized in the manufacturing of a wide range of products for daily use across personal care, consumer goods, as well as industrial applications. LEUNA-Tenside GmbH was founded in 1995 as part of the management buyout of a business division of the former Leuna Werke.
Vantage is a leading producer of naturally derived, specialty ingredients focused on Personal Care, Food, Consumer Care and Industrial end markets with a portfolio of over 2,000 products. Headquartered in Chicago, IL, Vantage operates a global manufacturing and supply chain across 6 manufacturing facilities, 13 formulation laboratories and 19 distribution warehouses located in 14 countries across the United States, Latin America, South Africa, Europe, and Asia. For more information, visit http://www.vantagespecialties.com.
About H.I.G. Capital
H.I.G. is a leading global private equity and alternative assets investment firm with $30 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, Bogotá 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:
1. H.I.G.’s equity funds invest in management buyouts, recapitalizations and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
2. 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.
3. 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 300 companies worldwide. The firm’s current portfolio includes more than 100 companies with combined sales in excess of $30 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.