H.I.G. Capital, LLC ("H.I.G."), a leading global private equity investment firm with $23 billion of equity capital under management* is pleased to announce that one of its affiliates has signed a definitive agreement to acquire Vantage Specialty Chemicals Holdings, Inc. (“Vantage” or the “Company”) from an affiliate of the The Jordan Company, L.P. (“TJC”), which will coinvest into the new deal through a minority equity stake.
Richard McEvoy, Chief Executive Officer of Vantage commented, “We are thrilled to have financial sponsors that are both very familiar with our business and recognize the achievements and growth opportunities created over the last several years. We look forward to partnering with both H.I.G. and TJC in the next chapter for Vantage.”
“We are very excited to partner with the Vantage team for a second time,” added Keval Patel, Managing Director at H.I.G. “It has been rewarding to see the success the Company has enjoyed over the last six years and we believe there is immense opportunity ahead. The Company’s diverse product portfolio, customer base, and geographic presence uniquely position it to capitalize on growth opportunities within the global specialty ingredients market. We look forward to partnering with TJC and supporting Richard McEvoy and the entire Vantage team through its next stage of growth."
Vantage’s existing management team will continue to run the business going forward. The transaction is expected to close in October subject to customary closing conditions. Morgan Stanley, RBC Capital Markets and Jefferies are providing committed financing for the transaction. Deutsche Bank and Houlihan Lokey provided financial advice and Mayer Brown LLP provided legal advice to Vantage in the transaction. Ropes & Gray LLP provided legal advice to H.I.G.
Vantage will be the 15th chemicals acquisition for H.I.G. since 2008 and the sixth current platform investment.
HIG Capital Signs Definitive Agreement to Acquire Vantage Specialty Chemicals.pdf