September 10, 2018 12:45 PM, EDT

H.I.G. Capital Affiliate Completes Acquisition of Recochem

H.I.G. Capital announced that one of its affiliates has acquired Recochem Inc. from an affiliate of Swander Pace Capital in partnership with Recochem management.

Founded in 1951 and headquartered in Montreal, Recochem manufactures, markets and distributes aftermarket transportation and household fluids.

“The company’s diverse product portfolio, strong brand presence, unparalleled global distribution, uniquely position it to capitalize on growth opportunities within the global aftermarket transportation and household fluids market. We look forward to working with Recochem and supporting its next stage of growth,” Keval Patel, managing director at H.I.G. said in a statement.

Terms of the transaction were not disclosed.

Miami-based H.I.G. is a private equity investment firm with over $25 billion of equity capital under management. Since its founding in 1993, H.I.G. has invested in and managed more than 300 companies worldwide. The firm’s current portfolio includes more than 100 companies with combined sales in excess of $30 billion.