Aurora Capital Group Exits Porex Corporation
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Aurora Capital Group Exits Porex Corporation

porex nfAurora Capital Group has completed the sale of Porex Corporation, a developer of porous polymer materials, to Filtration Group. Aurora first invested in Porex in October 2009.

Porex is a developer of porous polymer materials used in the healthcare and bioscience end markets, and also in the consumer and industrial sectors. Porex products serve filtration, venting, wicking, diffusion, and media support functions in applications such as blood filters, catheter vents, fuel filters, writing instrument tips, and consumable diagnostic tests. The company has more than 1,300 customers across 65 countries. Porex was founded in 1961 and has operations in North America, Europe and Asia. The company is headquartered in Fairburn, GA (www.porex.com).

Under Aurora’s ownership, Porex made a number of strategic acquisitions and divestitures, including the sale of Porex’s surgical division to Stryker Corporation in November 2010.

“Aurora’s investment in Porex exemplifies our investment strategy and the spirit of partnership we bring to our work,” said Michael Marino, Partner of Aurora Capital Group. “The seamless collaboration between Aurora, Porex and the company’s independent board underpinned the success of an ambitious set of investment initiatives designed to grow Porex’s capabilities and its unique materials technology. As a result of these initiatives and several strategic transactions, Porex has evolved to become a larger, stronger and more innovative company. The entire Porex organization, led by President and CEO Bill Midgette, has done a tremendous job building this business, and we believe the company is very well-positioned to continue on its exciting trajectory with Filtration Group.”

The buyer of Porex, Filtration Group, provides filtration products and services used by customers in the food & beverage; water, micro-electronics & telecommunications; environmental air; medical & bioscience; hydraulics; mining & minerals; industrial finishing and energy industries. The company operates facilities in 20 countries under three operating divisions: Liquid/Process, Environmental Air and Fluid. Filtration Group is headquartered in Chicago (www.filtrationgroup.com).

“Aurora, and the board it put in place, have been incredible partners during a transformational period of growth for Porex. As a result of Aurora’s investment and support, we have elevated our performance, delivering our technology to world-class customers around the globe with record levels of innovation, speed and quality. Looking ahead, we are excited to partner with Filtration Group as we continue to expand our market-leading capabilities in porous polymer technology,” said William Midgette, President and Chief Executive Officer of Porex.

Aurora Capital focuses principally on control investments in middle-market industrial, manufacturing and service oriented businesses. The firm, founded in 1991, has $2 billion of capital under management and is headquartered in Los Angeles (www.auroracap.com).

Robert W. Baird & Co. acted as financial advisor to Porex.

© 2013 PEPD • Private Equity’s Leading News Magazine • 11-25-13

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