HIG Capital completes growth investment in USALCO
An affiliate of global private equity investment firm HIG Capital (HIG) has made an investment in USALCO, a provider of aluminium-based chemicals used primarily in water and wastewater treatment processes and for the manufacturing of catalysts used by refineries.
HIG is partnering with Peter and David Askew as well as the current management team to help provide resources to achieve and take advantage of the Company’s significant strategic growth opportunities.
Terms of the transaction have not been disclosed.
Founded in 1980 and headquartered in Baltimore, Maryland, USALCO is a leading manufacturer of aluminium-based chemicals, offering its customers high quality products with best-in-class levels of service and industry leading research and development capabilities. USALCO serves its customers efficiently through its network of nine well-located plants in the Mid-Atlantic, Midwest and Southeast United States and an extensive logistics platform. Finally, USALCO’s elite staff of engineers and chemists have created a broad product line that continues to adapt to ever-changing environmental regulations.
Peter Askew, CEO of USALCO, says: “We are very excited about partnering with HIG to support USALCO’s growth objectives. We have numerous opportunities to expand both organically and inorganically, and HIG’s experience and resources will help us continue and accelerate our successful growth trajectory. We remain highly focused and committed to providing outstanding products and service to our customers and creating a positive and safe work environment for our employees.”
“We are very excited to partner with Peter and David and the USALCO management team, who have a proven track record of building a best-in-class business and providing the highest levels of quality for their customers,” adds Keval Patel, Managing Director at HIG ”The Company’s steady and growing revenue profile, highly efficient operations and numerous growth opportunities make this an attractive investment.”
USALCO represents HIG’s 10th current platform investment globally in the chemical sector.