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Private equity firm H.I.G. Capital has acquired the Canadian chemical maker Recochem from another private equity player, Swander Pace Capital, for an undisclosed sum. With annual revenues of $385 million, Recochem manufactures industrial chemicals including naphthalene, dichlorobenzene, and solvents. It also holds licenses to make and distribute household and transportation products, including Liquid-Plumr, STP, and Windex. In August, H.I.G.’s Valtris Specialty Chemicals unit bought Ineos’s chlorotoluenes and additives business.
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