HIG Capital, a private equity investment firm, has completed the sale of Vantage Specialty Chemicals to the Jordan Company.
The Jordan Company is a private equity firm with approximately $6bn of capital under management and invests in growing businesses across a wide variety of industries.
US-based Vantage is mainly involved in naturally derived ingredients that are used for personal care, consumer products, industrial and food markets.
Vantage converts renewable animal and vegetable-based raw materials into products, and their performance benefits and environmental characteristics, are broadly used in a range of specialised applications.
HIG Capital formed Vantage by the acquisition of Croda International's US oleochemical business (f/k/a Uniqema Americas) in May 2008.
Vantage also acquired Lambent Technologies in October 2008, and in July 2010 it purchased Lipo Chemicals, thus forming a vertically integrated natural speciality chemical provider.
Vantage said that it has expanded its global presence in 13 countries with revenues in excess of $500m per year.
Vantage CEO Julian Steinberg said HIG has been a tremendous partner to Vantage and has been instrumental in helping them form and execute their growth strategy.
"In the last three and a half years, we've made two sizeable acquisitions, expanded our global reach, invested in new technologies, and made sizeable capital investments to increase capacity at both of our manufacturing facilities," Steinberg said.
HIG Capital executive managing director Rick Rosen said that the company has successfully executed on a number of strategic initiatives and significantly grown the business organically, positioning the company very well for the future.
