H.I.G. Europe buys Adelie Foods

H.I.G. Europe, the European arm of H.I.G. Capital, has completed its buy of Adelie Foods. The India Hospitality Corporation, led by entrepreneurs Ravi Deol and Sandeep Vyas, was the seller and will maintain a minority equity stake. Financial terms weren’t announced. London-based Adelie provides sandwich products to supermarkets, coffee shops and the food service sector.

Harrison Gypsum buys J.A. Jack & Sons

Harrison Gypsum, which is backed by H.I.G. Capital, has acquired J.A. Jack & Sons Inc. Financial terms weren’t announced. J.A. Jack is a miner and processor of limestone products, sold into building products, glass, plaster, agriculture, animal nutrition, and coatings applications.


H.I.G. Growth Partners makes Shah an MD

H.I.G. Growth Partners LLC, the growth capital unit of H.I.G. Capital LLC, said Tuesday it promoted Nik Shah to MD. He joined H.I.G. in 2007 and has been responsible for investments in industries including technology, digital media, marketing and business services.


H.I.G. Capital completes The Newark Group add-on

H.I.G. Capital-backed Caraustar Industries, Inc., has completed the acquisition of The Newark Group Inc., which makes recycled paperboard, linerboard, industrial tubes, cores and other converted products. Financing for the deal was provided by Credit Suisse Securities (USA) LLC, Jefferies LLC, Wells Fargo Capital Finance and Regions Business Capital.


H.I.G. makes second Italian NPL investment

H.I.G. Capital said Wednesday that it invested through an Italian securitization in a portfolio of non-performing loans originated by Group Cassa di Risparmio di Cesena. Financial terms of the deal, which closed Jan. 29, weren’t announced. The portfolio comprises 52 non-performing loans backed by a mixture of residential and commercial real estate, mainly in the regions of Emilia-Romagna and Marche in Northern Italy. The transaction is H.I.G.’s fourteenth real estate investment in Europe since 2013 and its second NPL investment in Italy.


Franklin Square backs PE-owned Dent Wizard’s dividend recap

Franklin Square Capital Partners has provided unitranche financing to support the dividend recapitalization of car reconditioning company Dent Wizard International Corp. No financial terms were disclosed. Based in Bridgeton, Missouri, Dent Wizard is owned by H.I.G. Capital.

LG lugar de gente buys W3net

LG lugar de gente, a portfolio company of H.I.G. Capital, has acquired W3net. Financial terms weren’t announced. W3net, of Minas Gerais, Brazil, provides SaaS human resources management software.


H.I.G. Capital hires Dallolio to co-head European real estate

H.I.G. Capital has hired Riccardo Dallolio as managing director and co-head of European Real Estate from AXA RE, where he was head of alternatives and special situations. Dallolio will be based in London and share leadership responsibilities with Ahmed Hamdani. H.I.G. Capital’s real estate platform focuses on opportunistic real estate investments.


H.I.G. Capital invests in Aviapartner

H.I.G. Capital has acquired a majority stake in Aviapartner. No financial terms were disclosed. Aviapartner is a European provider of airport ground handling services for passengers and aircraft.


H.I.G. buys most of the assets of Ferro Corp’s PAD

H.I.G. Capital has acquired most of the assets associated with Ferro Corp.’s Polymer Additives Division. No financial terms were disclosed. As a result of the transaction, PAD, which is based in Independence, Ohio, will be renamed Valerus Specialty Chemicals.

H.I.G. Capital joins group in acquisition of Finnish retail portfolio

H.I.G. Capital has joined Cording Real Estate Group and Finnish asset management company Trevian in the agreed acquisition of about 107 million euros ($131.4 million) retail portfolio in Finland. The investor group is acquiring the portfolio from AXA Real Estate Investment Managers. The portfolio consists of 123 retail assets, mostly grocery stores, located across Finland.


H.I.G. Capital buys Finland retail assets

H.I.G. Capital said Friday it completed the buy of portfolio of 122 predominantly grocery store-anchored retail assets in Finland. The purchase price was more than €100 million (US$123.6 million).


H.I.G. invests in Pegasus Electronic Distribution

H.I.G. Capital has invested in Pegasus Electronic Distribution Services via a recapitalization. Toni Portmann is interim CEO for Pegasus and full-time executive chair of the board. Dallas-based Pegasus processes electronic hotel transactions.

H.I.G. Capital hires Simon Laker for European real estate

H.I.G. Capital has hired Simon Laker as principal and head of European Asset Management of the firm’s real estate portfolio. Laker will be based in the firm’s London office. Prior to H.I.G., Laker worked at Evans Randall, where he managed real estate investments across several European regions.

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