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Mergers & Acquisitions

H.I.G. acquires Brazil’s Elekeiroz

by Alexander H. Tullo
May 4, 2018 | APPEARED IN VOLUME 96, ISSUE 19

 

The private equity firm H.I.G. Capital has agreed to buy Elekeiroz, a Brazilian specialty chemical maker, from the conglomerate Itaúsa–Investimentos Itaú. Elekeiroz is the only Latin American producer of oxo alcohols and is the largest plasticizer maker in Brazil. The company, which generated about $300 million in sales last year, also makes organic acids and unsaturated polyester resins. H.I.G. already owns Vantage Specialty Chemicals and Ampac Fine Chemicals. Last year the private equity firm sold Cornerstone Chemical to Littlejohn & Co.

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