H.I.G. Capital has completed the sale of its investment Vaupell through a exit to Sumitomo Bakelite for $265 million. “H.I.G. has been a tremendous partner to Vaupell and has been instrumental in helping us establish and execute our growth strategy,” said Joe Jahn, Chief Executive Officer of Vaupell.
“We are very proud of what we have accomplished together with the Vaupell management team,” commented Jeff Zanarini, a Managing Director of H.I.G. “The company achieved significant revenue and EBITDA growth during our ownership, which yielded an outstanding investment outcome for Vaupell management, H.I.G. and its investors. We have every confidence that the company will continue its pioneering leadership as a member of the Sumitomo Bakelite Aerospace division.”
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. Vaupell was founded in Seattle in 1947 and supplied the first plastic parts to The Boeing Company (www.vaupell.com).
“The company achieved significant revenue and EBITDA growth during our ownership, which yielded an outstanding investment outcome for Vaupell management, H.I.G. and its investors. We have every confidence that the company will continue its pioneering leadership as a member of the Sumitomo Bakelite Aerospace division.”
2014 PEPD • Private Equity’s Leading News Magazine • 6-18-14