On November 6, 2023, H.I.G. Capital announced the sale of its portfolio company, Recochem, to CapVest Partners LLP, with H.I.G. retaining a minority stake. Recochem, a leading global manufacturer and distributor of transportation and household fluids, generates over $1 billion in revenue. Since H.I.G.'s acquisition in August 2018, Recochem expanded significantly through strategic initiatives and acquisitions, enhancing its global footprint across North America, Europe, Australia, and Asia-Pacific.

Recochem's President & CEO, Shawn Davies, praised H.I.G. for its pivotal role in the company's strategic growth and expressed enthusiasm for the new partnership with CapVest, anticipating further expansion. Keval Patel of H.I.G. lauded Recochem's transformation and growth potential, while Timothy Colson of CapVest looked forward to pursuing strategic opportunities and expansions with Recochem.

Financial advisory for the transaction included Harris Williams, Robert W. Baird, and CG Sawaya Partners for Recochem, with legal advice from McDermott Will & Emery LLP and Blake, Cassels & Graydon LLP. CapVest received financial counsel from Jefferies LLC, Truist Securities, Inc., and Lincoln International LLC, with legal services provided by Willkie Farr & Gallagher LLP and Kirkland & Ellis LLP. The transaction's value was not disclosed in the article.