• September 14, 2009
  • Europe, North America

H.I.G. Capital to Invest in Molex France

H.I.G. Capital to Invest in Molex France
Collaboration to Support French Electronic Components Manufacturer Recovery in the Automotive Industry

PARIS – September 14, 2009 – H.I.G. Capital (“H.I.G.”), a leading global mid-market private equity firm announced today that it will to support the recovery of Molex France, an electronic components manufacturer which supplies its products to the automotive industry.

Under the terms of a three-way agreement, that includes the State, Molex U.S. and H.I.G. Capital, the production site of Molex France, located in Villemur-sur-Tarn (Haute-Garonne), which has been threatened with closure for several months, will be revived.

“We feel that it is important to preserve the know-how of Villemur and the technology of their products, for which we believe there exists strong potential for development. We are therefore pleased to have the opportunity to preserve a part of the industrial community in a region that has been harshly impacted by the economic crisis, and in particular, by the difficulties from reduced work and demand by automobile makers”, explained Olivier Boyadjian, Managing Director of H.I.G. Capital in France. “In collaboration with the French State and French industry minister, Christian Estrosi, we are working to find alternative markets that will allow us the production site to continue operations.”

H.I.G. Capital has experience of this kind of operation and has worked with businesses to revitalize production and redeploy sales.

With more than 150 investment professionals globally, H.I.G. Capital is one of the most active investors exclusively dedicated to serving small and mid-size businesses. H.I.G. leverages the same principles that have brought it success in the U.S. over the past 15 years and raised its European fund with more than 600 millions euros dedicated to serving the region. H.I.G.’s office in Paris has more than a dozen investment specialists, which makes them one of the country’s largest teams dedicated to mid-market investing in France.

With a majority of operational experts, H.I.G. Capital actively works with management teams of existing portfolio companies and assists them in becoming market leaders. H.I.G. has available capital, strategic and operations expertise, as well as a broad network of contacts across all industries.

H.I.G. plans on developing its presence in France with long-term investments in businesses with potential for turnaround and growth. In April of 2009, H.I.G. Capital was one of the first investment firms/funds in France to agree to a partnership with the government association “Mediation du Credit” for funding small and medium sized enterprises. In this structure, the company appoints operational and financial counsel for businesses facing difficulties and supports the Mediation du Credit in its mission.

About H.I.G. Capital
H.I.G. Capital is a leading global private equity investment firm with more than $7.5 billion of equity capital under management. Based in Miami, and with offices in Atlanta, Boston, San Francisco and New York in the U.S., as well as affiliate offices in London, Hamburg and Paris in Europe, H.I.G. specializes in providing capital to small and medium-sized companies. H.I.G. invests in management-led buyouts and recapitalizations of businesses across a wide range of industries. With a team of more than 150 investment professionals, most with significant operating expertise, H.I.G. has extensive experience with financial restructurings and operational turnarounds. Since its founding, H.I.G. has invested in and managed more than 200 companies worldwide. The firm’s current portfolio includes companies with combined revenues in excess of $7 billion. For more information, please refer to the H.I.G. website at www.hig.com

Olivier Boyadjian
Managing Director

H.I.G. European Capital Partners SAS
44 avenue George V
75008 Paris
+33 (0) 1 53 57 50 60