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H.I.G. Sells Fibercore to Golden Gate

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H.I.G. Capital has sold has sold Fibercore Limited to Humanetics Innovative Solutions, a portfolio company of Golden Gate Capital.

Fibercore designs and manufactures specialty optical fiber products that are used in a range of applications including fiber optic gyroscopes, fiber optic hydrophones, fiber lasers, fiber amplifiers, embedded sensors, and specialty medical equipment. The company’s products are used by companies in more than 50 countries that are active in the aerospace and defense, oil and gas, biomedical, and telecommunications markets. Fibercore was founded in 1982 as a business venture spin-out from the Optical Fiber Group of the University of Southampton. Fibercore is led by CEO Chris Emslie and is headquartered in Chilworth, UK with an additional office in Houston (www.fibercore.com).

“Fibercore has always been an industry leader. It has been a very successful transaction and during our period of ownership, we have enjoyed working with Chris Emslie and his team helping to develop the business in new areas; in many cases pushing the boundaries of optical science via pioneering R&D,” said Carl Harring, a Managing Director at H.I.G. Capital. “Today, Fibercore sits at the heart of the industrial Internet of Things revolution with applications ranging from driverless cars to remote operating robots relying on the company’s leading edge technology. Humanetics is a natural home for the business and we wish the combination every success.”

Humanetics Innovative Solutions is a supplier of precision test systems and sensors. More specifically, the company is a provider of biofidelic anthropomorphic test devices (ATDs), commonly known as crash test dummies, and related sensor measurement systems. The company’s products are used for the development and certification of occupant safety protection technologies across a variety of end markets including automotive, aerospace, industrial and medical devices. Humanetics was acquired by Golden Gate in December 2013 and is headquartered near Detroit in Plymouth, MI (www.humaneticsatd.com).

Golden Gate Capital targets companies across a range of industries and transaction types, including going-privates, corporate divestitures, recapitalizations, and public equity investments. The firm has approximately $15 billion of capital under management and is based in San Francisco (www.goldengatecap.com).

H.I.G. 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. has more than $20 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).

© 2017 Private Equity Professional | February 3, 2017

Pamlico Acquires Freedom Dark Fiber

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freedom nfWilcon, a provider of fiber optic and data center infrastructure and a portfolio company of Pamlico Capital, has closed its acquisition of Freedom Dark Fiber Networks, a high-capacity dark fiber provider in southern California. With the completion of this acquisition, Wilcon is now one of the largest fiber optic networks in southern California.

“We are very pleased to complete this transaction, which enables us to provide unparalleled fiber access to our customers. By bringing together the most dense fiber and interconnection infrastructure in downtown Los Angeles and vast network reach throughout southern California, we are poised to deliver unmatched efficiencies in ultra-broadband performance for businesses, wireless carriers and other communications services providers,” said Jon DeLuca, chief executive officer of Wilcon.

As a result of the transaction, Freedom Dark Fiber Networks has been renamed Freedom Telecommunications. Freedom Telecommunications is a high-capacity dark fiber provider in southern California. Freedom delivers ultra-broadband services to businesses in a range of industries including media and entertainment, financial services, healthcare, education, Internet services and wireless communications. The company was founded in 2007 and is based in Los Angeles (www.freedomtelecommunications.com).

Wilcon is a provider of fiber optic network infrastructure in Southern California connecting major co-location facilities, data centers and enterprise locations. The company owns and operates 20,000 square feet of data center space as well as a fiber network with over 14,200 strands of fiber in the downtown Los Angeles corridor. Wilcon maintains network connections to 19 buildings and 43 data center suites and provides dark and lit fiber solutions, cross-connects, and data center services to over 250 customers, including domestic and international telecommunications carriers, content delivery networks, managed service providers and other large enterprises. Wilcon was founded in 1998 and is based in Los Angeles (www.wilcon.com).

Pamlico Capital invests from $25 million to $75 million in companies with total enterprise values of between $50 million and $250 million. Sectors of interest include business and technology services, communications, and healthcare. Pamlico Capital currently manages over $2 billion in assets and is based in Charlotte, NC (www.pamlicocapital.com).

© 2013 PEPD • Private Equity’s Leading News Magazine • 10-16-13

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