MOSCOW (MRC) -- H.I.G. Capital, a leading global private equity investment firm with more than USD25 billion of equity capital under management, has announced the signing of a definitive agreement for the sale of its portfolio company AMPAC Fine Chemicals to SK Holdings Co. Ltd, as per Financial Post.
Based in Rancho Cordova, CA, AFC is a leading global supplier of high value-added active pharmaceutical ingredients and intermediates used in treating diseases such as cancer, CNS disorders and various viral infections. AFC is strategically located with four facilities within the United States, providing services to a large number of blue chip pharmaceutical and biotech companies throughout the entire life cycle of their products.
H.I.G. acquired AFC in February 2014 as part of American Pacific Corporation. AFC’s sister company, AMPAC Specialty Chemicals, was sold to Huntsman Family Investments in December 2015.
Fraser Preston, Managing Director of H.I.G., said: "AFC is a terrific organization with exceptional leadership. Dr. Aslam Malik and his team have transformed the business since we acquired it - adding technical capabilities, diversifying the customer base, building an expanded and flexible manufacturing footprint and delivering industry leading organic growth every year since our acquisition."
Dr. Aslam Malik, CEO of AFC, added: "H.I.G. has been thoughtful and supportive of AFC since our partnership began several years ago. In addition to supporting AFC with growth capital; allowing us to expand our Rancho Cordova, CA facility; start AMPAC Analytical; restart operations at our La Porte, TX site; and acquire a state-of-the-art plant in Petersburg, VA, H.I.G. has provided us with the freedom and flexibility needed to grow the business and served as a dynamic thought partner to our senior leadership team. Thanks to our affiliation with H.I.G., AFC is a much bigger and a more diversified company today than it was in 2014 - our customer base is broader and our relationships with them are deeper. As a result, our development pipeline is bigger than it has ever been."
Mr. Preston further commented, "Partnering with a respected global organization like SK Holdings represents a terrific next step for the Company’s customers, partners, and employees, and we look forward to the Company’s continued success."
AMPAC Fine Chemicals (AFC) is a US-based company with demonstrated capabilities in process development, scale-up, and cGMP-compliant commercial production of active pharmaceutical ingredients and registered intermediates for pharmaceutical and biotechnology customers. Its specially engineered facilities and experienced staff allow AFC to safely produce complex compounds at all scales. AFC’s operations are located in Rancho Cordova and El Dorado Hills CA, in La Porte, TX and in Petersburg, VA.
H.I.G. is a leading global private equity and alternative assets investment firm with more than USD25 billion of equity capital under management. Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Rio de Janeiro, Sao Paulo, Bogota and Mexico City, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies
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