H.I.G. Acquires Universal Fiber Systems
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H.I.G. Acquires Universal Fiber Systems

universal fibers nf1H.I.G. Middle Market has acquired Universal Fiber Systems, a maker of custom dyed synthetic fibers, from Sterling Group which acquired the company in September 2007 through its second fund.

universal fibers f1Universal Fiber Systems (UFS) produces dyed synthetic fibers synthesized from nylon, polyester, and other specialty polymers that are used in the commercial, residential and transportation carpet industries.  The company also serves customers in a variety of technical fiber end-markets – such as performance apparel – through its Premiere Fibers division.  The company was founded in 1969 and is headquartered in Bristol, VA with additional facilities in Europe, Thailand and China (www.universalfibers.com).

“We are thrilled to work with H.I.G.,” said Marc Ammen, CEO of Universal Fiber Systems.  “This partnership will enable the continued globalization of our operations and market reach. We have invested in each and every one of our facilities and this will further our momentum. I am very excited about the future of our company and the partnership with H.I.G.”

H.I.G. Capital specializes in providing capital to small and medium-sized companies and invests in management-led buyouts and recapitalizations of manufacturing or service businesses. H.I.G. Capital has more than $15 billion of capital under management. The firm was founded in 1993 and is based in Miami with additional offices in Atlanta, Boston, Chicago, Dallas, New York, San Francisco, London, Hamburg, Madrid, Milan, Paris, and Rio de Janeiro (www.higcapital.com).  Tenno Tsai, a Managing Director at H.I.G., led the transaction.

© 2015 PEPD • Private Equity’s Leading News Magazine • 10-5-15

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