Market Overview

Valtris Specialty Chemicals, an H.I.G. Capital Portfolio Company, Acquires INEOS ChloroToluenes and INEOS Baleycourt

Share:

H.I.G. Capital, LLC ("H.I.G."), a leading global private equity
investment firm with over $25 billion of equity capital under
management, is pleased to announce that its portfolio company, Valtris
Specialty Chemicals ("Valtris"), has acquired INEOS ChloroToluenes
("ICT") and INEOS Baleycourt ("Baleycourt" and, together with ICT, the
"Companies") from INEOS Enterprises. The combination creates a global
specialty chemicals business with a broad product portfolio, strong
technical capabilities and world-class customer service.

With production facilities in Belgium and the Netherlands, ICT is a
leading producer of chlorinated toluenes and related derivatives that
are used in coatings, flavor & fragrance, personal care and
pharmaceutical applications. Based in northeast France, Baleycourt
produces high-quality products that serve the polymer additives,
lubricant, renewable energy and food markets.

Paul Angus, CEO of Valtris commented, "ICT and Baleycourt are highly
strategic acquisitions with strong secular growth drivers that
significantly enhance our product portfolio, expand our European
presence and strengthen our technology and production capabilities. We
are excited to offer our customers an even broader solution offering and
pursue the attractive, new growth opportunities that the acquisitions
create."

Ashley Reed, CEO of INEOS Enterprises added, "We are proud of ICT and
Baleycourt's accomplishments as part of the INEOS family. Both Companies
have built industry leading businesses with reputations for product
quality, service reliability and customer satisfaction. We are confident
that the Valtris team is the right partner for ICT, Baleycourt, and
their employees."

Keval Patel, Managing Director at H.I.G. commented, "We are pleased to
add ICT and Baleycourt to the Valtris platform. The Companies have
achieved impressive growth and have capabilities that are highly
complementary to Valtris. We look forward to continuing to support the
Valtris team and are very excited about the future prospects of the
business."

H.I.G. currently has seven active portfolio investments in the chemicals
sector, and ICT and Baleycourt represent H.I.G.'s 17th and 18th
acquisitions in the sector since 2008.

About Valtris

Valtris Specialty Chemicals, based in Independence, OH, is a leading
manufacturer of specialty chemicals primarily used as additives in the
production and processing of plastics. These chemicals impart critical
attributes to plastics including resiliency, flexibility and ease of
processing. Valtris operates seven manufacturing facilities globally,
five within the US, one in the UK and one in India. For more
information, visit http://www.valtris.com/.

About H.I.G. Capital

H.I.G. is a leading global private equity and alternative assets
investment firm with over $25 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, Mexico City, Rio de Janeiro and São Paulo, 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
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.

About INEOS Enterprises

INEOS ChloroToluenes and INEOS Baleycourt are a part of INEOS
Enterprises (http://www.ineosenterprises.com)
which comprises a portfolio of businesses manufacturing chemical
products in Northern Europe, with sales of €2bn around the world. INEOS
Enterprises is focused on the developing needs of customers and rapid
growth through investment in new products and manufacturing facilities
or by acquisition. INEOS Enterprises employs 2,000 people across sites
in the UK, France, Germany, Sweden, Switzerland, Belgium, Netherlands,
and the USA.

* Based on total capital commitments managed by H.I.G. Capital and
affiliates.

View Comments and Join the Discussion!