H.I.G. ACQUIRES THE SPECIALTY ALUMINAS ACTIVITY OF RIO TINTO TO CREATE ALTEO
H.I.G. ACQUIRES THE SPECIALTY ALUMINAS ACTIVITY OF RIO
TINTO TO CREATE ALTEO
1st August 2012
After many years as part of Pechiney, then Alcan and most recently Rio Tinto, the Specialty Aluminas business is from today an independent company following the sale to H.I.G. Capital Europe. The new name for the business will be ALTEO.
The business will maintain the existing production setup based upon the 4 facilities in Europe, headquartered in Gardanne, France, producing a unique range of products from specialty calcined aluminas to tabular and fused aluminas. The key markets for these products are ceramics, refractories, abrasives and glass, supported by an expanding global commercial network in Europe, Asia and USA. Substantial investments in application based R&D and environmental sustainability will confirm the position of ALTEO as the leading, fully-integrated, global supplier of specialty aluminas.
More about H.I.G.
H.I.G. is a leading global private equity investment firm with more than $8.5 billion of equity capital under management and a team of more than 225 investment professionals. Based in Miami, with offices in the US, Brazil, and Europe (Paris, London, Hamburg, Madrid), H.I.G. specializes in providing capital to small and medium-sized companies with attractive growth potential. H.I.G. invests in management-led buyouts and recapitalizations of profitable and well managed manufacturing or service businesses. H.I.G. also has extensive experience in industrial carve out transactions. Since its founding in 1993, H.I.G.
invested in more than 200 companies worldwide. The firm’s current portfolio includes more than 50 companies. For more information, please refer to the H.I.G. website at www.higcapital.com.
For further information, please contact:
Mike Rodgers +33 442652870
Amélie Ranger +33 621157279