H.I.G. Capital News
Head of H.I.G. WhiteHorse Europe
H.I.G. Capital International Advisors LLP
10 Grosvenor Street
London W1K 4QB
T +44 (0) 207 318 5700
F +44 (0) 207 318 5749
H.I.G. WhiteHorse Refinances Kermel
LONDON – September 15, 2021 – H.I.G. WhiteHorse, a credit affiliate of global investment firm H.I.G. Capital ("H.I.G."), is pleased to announce that it has arranged a refinancing package for Kermel (the “Company”), which also includes a growth capital component.
Kermel is a technical fibre manufacturer for flame and heat resistant clothing. The Company manufactures polyamide-imide fibres for garments dedicated to personal protection that demonstrate exceptional resistance to heat, fire and abrasion in extreme circumstances.
H.I.G. WhiteHorse has committed €73 million of unitranche and capex facilities to refinance the borrower’s existing indebtedness and provide additional capital to finance the Company’s growth. Kermel has plans to increase its production capacity in the coming years to support new client wins and ongoing demand.
Pascal Meysson, Head of Europe at H.I.G. WhiteHorse, said: “We are thrilled to support Kermel’s growth by providing flexible capital that allows its management team to realise the Company’s expansion plans. This transaction highlights H.I.G. WhiteHorse's ability to support the strategic development of its clients by establishing tailored solutions for their financing needs.”
About H.I.G. Capital
H.I.G. is a leading global alternative assets investment firm with $45 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, 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:
- 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.
- H.I.G. Infrastructure focuses on making value-add and core plus investments in the infrastructure sector.
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.