Funds managed by CapVest, a private equity firm focused on companies supplying essential goods and services, have acquired Ricochet, a portfolio company of HIG Capital, with HIG set to remain as a minority investor in the vompany.
Recochem, which has revenues in excess of $1bn, is a global manufacturer, marketer, and distributor of aftermarket transportation and household fluids. The Company serves consumers and industrial customers worldwide through its operations in North America, Europe, Australia, and Asia-Pacific.
HIG first acquired Recochem in August 2018 in partnership with the Company’s management team. Through product category and geographic expansion, execution of strategic initiatives, and synergistic add-on acquisitions, the company achieved significant growth under HIG’s ownership period.
Harris Williams, Robert W. Baird, and CG Sawaya Partners were financial advisors to Recochem and McDermott Will & Emery LLP and Blake, Cassels & Graydon LLP represented HIG Capital and Recochem as legal counsel in connection with the transaction.
Jefferies LLC, Truist Securities, Inc and Lincoln International LLC were financial advisors to CapVest, with Willkie Farr & Gallagher LLP and Kirkland & Ellis LLP acting as legal counsel.
