H.I.G. Capital acquired Tecfil, a Brazilian automotive filters producer serving the aftermarket segment.
(Press Release) H.I.G. Capital, LLC (“H.I.G.”), a leading global private equity investment firm with over $27 billion of equity capital under management, is pleased to announce that one of its affiliates has completed the acquisition of Sofape Fabricante de Filtros Ltda. (“Tecfil” or the “Company”), the leading automotive filters producer in Brazil, serving primarily the aftermarket segment.
“We are very pleased to entrust Tecfil’s future to H.I.G. Capital. H.I.G.’s solid track record and long-term view will add significant value to the Company founded by our grandfather, building on Tecfil’s potential to become a leading aftermarket platform in auto parts manufacturing”
Tecfil has a long and successful 65-year history in the Brazilian market, as the undisputed market leader. Tecfil operates the largest filter manufacturing facility in Latin America, serving virtually all light and heavy-duty vehicles in Brazil under its two top-of-mind brands – Tecfil and Vox. Tecfil also exports to 27 countries in Latin America, North America and Europe.
Fernando Marques Oliveira, Managing Director and Head of H.I.G. Brazil and Latin America, commented: “We are very pleased to have completed the acquisition of Tecfil. Abílio, Arthur and the management team have done an outstanding job in the last decade of building a truly unique aftermarket platform. We look forward to taking the Company to the next level and explore several growth opportunities that lay ahead of us.”
“We are very pleased to entrust Tecfil’s future to H.I.G. Capital. H.I.G.’s solid track record and long-term view will add significant value to the Company founded by our grandfather, building on Tecfil’s potential to become a leading aftermarket platform in auto parts manufacturing,” said Abílio and Arthur Gurgel.
Founded in 1953 and headquartered in Guarulhos/SP, Tecfil is the leading automotive filters producer in Brazil, focused on the aftermarket segment whilst also supplying the top automakers in Brazil. The Company sells over 3,000 SKUs under its 2 brands in nearly 30 countries. For more information visit www.tecfil.com.br.
About H.I.G. Capital
H.I.G. is a leading global private equity and alternative assets investment firm with over $27 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, São Paulo, Bogotá and Mexico City, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/value-added approach:
1. H.I.G.’s equity funds invest in management buyouts, recapitalizations and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
2. H.I.G.’s debt funds invest in senior, unitranche and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. is also a leading CLO manager, through its WhiteHorse family of vehicles, and manages a publicly traded BDC, WhiteHorse Finance.
3. H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.
Since its founding in 1993, H.I.G. has invested in and managed more than 300 companies worldwide. The firm’s current portfolio includes more than 100 companies with combined sales in excess of $30 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.
*Based on total capital commitments managed by H.I.G. Capital and affiliates.
Fernando Marques Oliveira