Los Angeles-based private equity firm Aurora Capital Group has completed the acquisition of Porex, formerly a wholly owned subsidiary of HLTH, for USD142m in cash and senior secured debt.
Porex designs, produces and delivers porous, surgical and filtration products for customers in healthcare, industrial and consumer applications worldwide.
Gerald L. Parsky, chairman of Aurora Capital Group, says: "We look forward to working with Porex’s management team and talented employees to build upon the company’s past achievements. Aurora is committed to helping Porex expand its strong market position in porous plastics and further enhance its materials science expertise in support of its global customer base."
In August 2009 Aurora completed the purchase and merger-of-equals transaction to combine RecoverCare and MedaSTAT USA to create a provider of wound care and bariatric treatment solutions for acute and post-acute care markets.
Additionally, Aurora portfolio companies have executed six portfolio company tuck-in acquisitions in 2009, with two transactions completed by each of Anthony International, a specialist in the US commercial refrigeration industry and the world’s largest manufacturer of specialty glass; Mitchell International, a provider of information services and technology solutions designed to automate and optimize the automobile insurance claims and workers’ compensation claims processes; and NuCO2, the nation’s largest and sole national provider of bulk CO2 equipment rental and refill solutions.
