H.I.G. Middle Market, the dedicated middle market affiliate of H.I.G. Capital, has acquired Universal Fiber Systems LLC. Financial terms weren’t announced. Bristol, Virginia-based Universal Fiber produces custom solution-dyed synthetic fibers for the flooring, transportation, performance apparel and industrial fibers industries.
NEW YORK–(BUSINESS WIRE)–H.I.G. Middle Market (“H.I.G.”), the dedicated middle market investment affiliate of H.I.G. Capital, a leading global private equity investment firm with $19 billion of equity capital under management, has acquired Universal Fiber Systems LLC (“UFS”, or the “Company”).
Headquartered in Bristol, VA, with additional facilities in the United States, Europe, Thailand and China, UFS is a global leader in the production of custom solution-dyed synthetic fibers. The Company serves customers in the commercial, residential and transportation carpet industries through its Universal Fibers division and serves customers in diverse technical fiber end-markets including performance apparel and technical fabrics through its Premiere Fibers division.
Tenno Tsai, Managing Director at H.I.G., commented, “We are excited to partner with Marc Ammen and the entire UFS team to continue the Company’s strong growth. We look forward to working with the management team to support the company’s commitment to bringing the highest levels of quality, service and innovation to its customers.”
“We are thrilled to work with H.I.G.,” said Marc Ammen, CEO of Universal Fiber Systems LLC. “This partnership will support UFS in our resolve to remain the leader in innovation, service and quality for each of our end markets. Those are attributes that our customers and supply partners have come to expect. Additionally, this will enable the continued globalization of our operations and market reach. We have invested in each and every one of our facilities and this will further our momentum. I am very excited about the future of our Company and the partnership with H.I.G.”
About Universal Fiber Systems LLC
Founded in 1969, Universal Fiber Systems has built a worldwide reputation for fiber innovation in multiple chemistries. The Company is a global leader in the production of high quality, highly customized solution-dyed synthetic filament-based fiber for the flooring, transportation, performance apparel and industrial fibers industries. The Company is based in Bristol, VA with additional operations in the United States, China, Thailand and the United Kingdom. Please visit the Company’s website at www.universalfibersystems.net.
About H.I.G. Middle Market
H.I.G.’s Middle Market Fund specializes in providing up to $200m of equity in transactions involving mid-market companies with high-quality, value-added products and services, and attractive growth potential. H.I.G.’s Middle Market Fund aligns itself with committed management teams and will make investments across a wide range of industries and opportunities, from profitable market leaders to underperforming businesses facing unique challenges. We work closely with our management teams and use our in-house operating expertise to help our portfolio companies become industry leaders.
About H.I.G. Capital
H.I.G. is a leading global private equity and alternative assets investment firm with $19 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, 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 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. Other H.I.G. funds invest in various real assets, including real estate and shipping.
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 $30 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.
* Based on total capital commitments to funds managed by H.I.G. Capital and its affiliates.