Capital Investment Acquisition H.I.G Capital Announces Acqusition of Haltermann Products

Editor: Dominik Stephan

Miami based investment firm H.I.G. Capital goes on shopping spree in Germany: the private equity investors recently acquired hydrocarbons specialist Halterman Products from Dow.

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(Picture: HIG Europe)
(Picture: HIG Europe)

Hamburg/Germany – H.I.G. Europe recently announced the acquisition of Haltermann Products, a Germany-based producer of hydrocarbon chemicals as well as test & reference fuels from The Dow Chemical Company through funds advised by H.I.G.. Halterman produces refinery products at two German production sites (Hamburg and Speyer) and generates revenues of about EUR 150 millions. Company officials state that H.I.G. will continue to build on Haltermann’s strong brand within the chemical industry with a focus on growth outside its core German market as well as the extension of the company’s product portfolio. Haltermann new head of business will be former Clariant board meber Dr. Uwe Nickel, who joins Haltermann from Arthur D. Little.

“With this investment, H.I.G. Europe continues its successful track record of investing in corporate carve-out transactions," says Wolfgang Biedermann, Managing Director at H.I.G. Europe. "We are excited to work with management to allow Haltermann to operate with increased customer focus and increased flexibility. Going forward, we will grow the business of Haltermann by extending its geographic reach, its product offering and via acquisitions.”

Johannes Natterer, Director at H.I.G. Europe, added: “With its high purity hydrocarbons for growing niche applications, Haltermann has a unique position in the European Chemicals landscape. Its name stands for a proud history and reliable service and we look forward to building on this history and to working with management and employees of Haltermann in growing the business.”

H.I.G. Europe, subsidiary of H.I.G. capital with offices in London, Paris and Hamburg, is currently strengthening its positioning among the German medium sized middle market companies. The Haltermann investment marks H.I.G. Europe’s third new investment in Germany and seventh in Europe since the beginning of 2011.