Sverica International Management has acquired Dexmet Corporation, a developer and manufacturer of expanded foils and polymers used in aerospace, battery, industrial, and other applications. Sverica completed this investment through its third fund.
“We are excited to partner with Bob Bochman and the rest of the Dexmet team. Dexmet will be a great addition to the Sverica portfolio, as the company fits well with Sverica’s dedicated focus on niche manufacturers of specialty materials with track records of success and demonstrated growth prospects,” said Dave Finley, Managing Director at Sverica.
Dexmet Corporation is a developer and manufacturer of highly engineered expanded foils and polymers used in a variety of end markets. The company’s products are used in a range of applications including lightning strike protection for major composite aircraft manufacturers, anodes and cathodes for advanced battery technologies and supportive materials for filtration and automotive applications. The company was founded in 1948 and is headquartered in Wallingford, CT (www.dexmet.com).
Sverica invests in service oriented businesses and light industrial manufacturers. The firm targets companies with enterprise values under $100 million and EBITDAs greater than $3 million. Sverica, with over $425 million of assets under management across three funds, has offices in Boston and San Francisco (www.sverica.com).
“This partnership with Sverica comes at an exciting time for Dexmet,” said Bob Bochman, President of Dexmet. “Sverica shares our long-term view of the considerable market opportunity for Dexmet’s products and will help us become even better strategic partners for our customers.”
Abacus Finance Group (www.abacusfinance.com) and Avante Mezzanine Partners (www.avantemezzanine.com) provided financing for the transaction.
© 2013 PEPD • Private Equity’s Leading News Magazine • 3-7-13
