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H.I.G. Capital, a leading global private equity investment firm with more than $15 billion of equity capital under management, announced that it has entered into a definitive agreement to sell its portfolio company Vaupell Holdings to Sumitomo Bakelite.
Vaupell, headquartered in Seattle, WA, is a global leader in the development and production of thermoplastic interior solutions to the commercial aerospace industry. The Company’s ability to design and produce advanced, tight-tolerance parts and assemblies using highly-engineered resins and composites is unparalleled. Vaupell’s turnkey solutions span the full product lifecycle from design and product prototyping, to tooling and part production, to assembly and kitting. In addition to aerospace, Vaupell provides its engineered solutions for use in defense applications, medical devices and components, test and measurement and other niche commercial applications. The Company acquired SciTech Plastics to diversify into attractive medical and niche commercial applications, and acquired Russell Plastics Technology in 2011 to expand into defense applications and increase its composites capabilities.The transaction is subject to final government approval and is expected to close before June 30, 2014.About Vaupell:Vaupell was founded in Seattle, Washington in 1947 and supplied the first plastic parts to The Boeing Company. Vaupell designs, engineers, and produces custom, high performance engineered plastic and composite components and assemblies for demanding applications. The Company is a global leader in plastics components and assemblies for aircraft interiors while also serving the broader aerospace, defense, medical, and commercial markets. Vaupell provides engineered solutions to top tier OEM’s, market-leading growth companies, and promising start-ups. Collaboration with our customers in all phases of the product life cycle results in the highest value solutions that reduce time to market, manage risk and control costs. In addition, we manufacture highly engineered components for medical and commercial markets.More information: www.higcapital.com - www.vaupell.com