H.I.G. Capital has sold its portfolio company Accupac to J.H. Whitney Capital Partners. H.I.G. acquired Accupac in April 2003.
Accupac is a provider of outsourced manufacturing and packaging services to large pharmaceutical and over-the-counter (OTC) personal care product manufacturers. The company specializes in liquid topical and oral care products, including skin creams, toothpastes, moisturizing lotions, mouthwash and other personal care products, many of which require FDA approval. All Accupac manufacturing facilities are FDA registered and cGMP (“Current Good Manufacturing Practice”) compliant. Accupac, led by CEO Paul Alvater, was founded in 1974 and is headquartered northwest of Philadelphia in Harleysville, PA. The company has two manufacturing facilities, one at its headquarters in Harleysville and a 221,000 square foot facility – which began operations in October 2012 and doubled the company’s manufacturing capacity – in Lakewood, NJ (www.accupac.com).
“We have had a great partnership with the Accupac management team and we are proud of the changes made to further position the company for success,” said John Von Bargen, a Managing Director of H.I.G. Capital. “Through substantial investment in people and facilities, with a constant focus on customers, Accupac has developed into a market leader. We look forward to seeing Accupac continue its successful growth with J.H. Whitney Capital Partners.”
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 $22 billion of capital under management. The firm was founded in 1993 and is based in Miami with additional offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, Atlanta, London, Hamburg, Madrid, Milan, Paris, Bogotá, Mexico City and Rio de Janeiro (www.higcapital.com).
J.H. Whitney invests in small and middle market companies that are active in the consumer, healthcare, specialty manufacturing, and business services sectors. The firm was founded in 1946 and is based in New Canaan, CT (www.whitney.com).
© 2017 Private Equity Professional | September 18, 2017