H.I.G. Capital To Acquire U.S. Oleochemical Business From Croda International Plc

Miami, FL - H.I.G. Capital, L.L.C. ("H.I.G."), a leading global private equity firm focused on mid-market companies, announced recently that it is acquiring the U.S. oleochemical business ("Oleo" or the "Company") of Croda International Plc. As part of its restructuring program, Croda is divesting this division which it acquired as part of the acquisition of Uniqema in 2006.

Oleo is a leading North American supplier of oleochemicals which are used in personal care products, industrial lubricants, chemical derivatives, and other household and industrial formulated products. In a complex, multi-staged process, the Company processes naturally occurring fats and oils into a range of oleochemicals.

The Company is headquartered in Chicago, IL and is home to one of the industry's largest and most efficient oleochemical production facilities. The business has been a leader in fatty acid production in North America for over 20 years and is known for its high quality, dependable products and customer service.

H.I.G. is partnering with the current management team to purchase the business and use the current infrastructure as a platform for future growth in the specialty chemical industry. Rick Rosen, a Managing Director of H.I.G., commented, "We are excited to partner with this outstanding team and to support them in the next phase of growth."

SOURCE: H.I.G. Capital, L.L.C.