H.I.G. Capital News
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H.I.G. Capital Completes the Sale of AMPAC Fine Chemicals
SAN FRANCISCO – September 4, 2018 – H.I.G. Capital (“H.I.G.”), a leading global private equity investment firm with over $25 billion of equity capital under management, is pleased to announce the completion of the sale of its portfolio company AMPAC Fine Chemicals (“AFC” or the “Company”) to SK Holdings Co. Ltd.
Based in Rancho Cordova, CA, AFC is a leading global supplier of high value-added active pharmaceutical ingredients and intermediates used in treating diseases such as cancer, CNS disorders and various viral infections. AFC is strategically located with four facilities within the United States and has over $200 million of revenue. The Company provides services to a large number of blue chip pharmaceutical and biotech companies throughout the entire life cycle of their products.
H.I.G. acquired AFC in February 2014 as part of American Pacific Corporation. AFC’s sister company, AMPAC Specialty Chemicals, was sold to Huntsman Family Investments in December 2015.
Fraser Preston, a Managing Director of H.I.G., said: “AFC is a terrific organization with exceptional leadership. Dr. Aslam Malik and his team have transformed the business since we acquired it – adding technical capabilities, diversifying the customer base, building an expanded and flexible manufacturing footprint and delivering industry leading organic growth every year since our acquisition.” Mr. Preston further commented, “AFC has delivered an outstanding return for H.I.G. and its investors. Partnering with a respected global organization like SK Holdings represents a terrific next step for AFC’s customers, partners, and employees, and we look forward to the Company’s continued success.”
Dr. Aslam Malik, CEO of AFC, added: “H.I.G. has been thoughtful and supportive of AFC since our partnership began several years ago. In addition to supporting AFC with growth capital; allowing us to expand our Rancho Cordova, CA facility; start AMPAC Analytical; restart operations at our La Porte, TX site; and acquire a state-of-the-art plant in Petersburg, VA, H.I.G. has provided us with the freedom and flexibility needed to grow the business and served as a dynamic thought partner to our senior leadership team. Thanks to our affiliation with H.I.G., AFC is a much bigger and a more diversified company today than it was in 2014 – our customer base is broader and our relationships with them are deeper. As a result, our development pipeline is bigger than it has ever been.”
About AMPAC Fine Chemicals
AMPAC Fine Chemicals (“AFC”, or the “Company”) is a U.S.-based company with demonstrated capabilities in process development, scale-up, and cGMP-compliant commercial production of active pharmaceutical ingredients and registered intermediates for pharmaceutical and biotechnology customers. Its specially engineered facilities and experienced staff allow AFC to safely produce complex compounds at all scales. AFC’s operations are located in Rancho Cordova and El Dorado Hills CA, in La Porte, TX and in Petersburg, VA. For more information, please refer to the Company’s website at www.ampacfinechemicals.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, Rio de Janeiro, São Paulo, Bogotá and Mexico City, 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:
- 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.
- 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.
- 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.