HIG Capital Acquires DynaSteel Corporation
07/15/2008 - H.I.G. Capital acquires DynaSteel Corp., a fabricator of large-scale, high-precision air handling systems.
H.I.G. Capital, LLC has acquired DynaSteel Corp., a fabricator of large-scale, high-precision air handling systems. The company specializes in engineering and fabricating complex, customized high-precision carbon steel and specialized alloy systems used primarily in air quality control systems.
H.I.G. partnered with management to consummate the transaction. “We are pleased to work with H.I.G. to leverage their experience growing private businesses,” said Jim Russell, DynaSteel’s Chief Executive Officer. “The recapitalization of DynaSteel allows us to continue growing our customer base across multiple end markets and expanding our facilities, and gives us the flexibility to support our customers as they keep up with ever-tightening environmental regulations.”
"We are excited about DynaSteel’s prospects, and intend to actively support the Company as it builds on its well-deserved reputation," said Richard Stokes of H.I.G. Capital. "We have great confidence in the management team as operators and believe that the partnership between DynaSteel and H.I.G. will facilitate and expedite our collective goal to grow the company to a position as the pre-eminent provider of high-quality fabricated air quality products.”
Established in 1970, DynaSteel fabricates large-scale, high-precision, complex air handling systems for the power, cement, petrochem and other industries. From three strategic locations including its Memphis, Tenn., headquarters plus facilities in Natchez, and Iuka, Miss., the company leverages its unique waterway access to deliver integrated solutions to its customers.
H.I.G. Capital is a leading global private equity investment firm with more than $7.5 billion of equity capital under management. Based in Miami, and with offices in Atlanta, Boston, and San Francisco in the U.S., as well as affiliate offices in London, Hamburg, and Paris, H.I.G. specializes in providing capital to small and medium-sized companies with attractive growth potential. H.I.G. invests in management-led buyouts and recapitalizations of profitable and well managed manufacturing or service businesses, and also has extensive experience with financial restructurings and operational turnarounds. Since its founding, the company has invested in and managed more than 200 companies worldwide. The firm's current portfolio includes companies with combined revenues in excess of $7 billion.
