H.I.G. Capital News
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H.I.G. Capital Acquires a Significant Stake in ECORE Group
PARIS - May 22, 2017 - H.I.G. Capital (“H.I.G.”), a leading global private equity investment firm with more than €20 billion of equity capital under management, is pleased to announce that its affiliate has completed a strategic investment in Ecore Group (“Ecore”).
Established in 1993, Ecore is a major participant in the global recycling market. The number two competitor in France through its main subsidiary GDE, Ecore manages all stages of the recycling chain, from waste collection to processing, transport, and sale of recycled products. In 2016, Ecore generated revenue of c. €1 billion.
Ecore, which employs over 1,360 people, has gradually expanded its activities and today recycles more than 3 million tons of materials each year, including more than 2.6 million tons of ferrous metals. As the strategic partner for companies which place environmental concerns at the heart of their CSR strategy, Ecore is recognized for its expertise and the relationship of trust it has developed with its clients.
Guillaume Dauphin, CEO of Ecore Group commented: “We wanted to partner with a major financial sponsor, H.I.G., in order to pursue the development of our activities and expand our business internationally. Our continued efforts combined with the experience and support of H.I.G. will speed up Ecore’s growth and position the Group among global leaders”.
Olivier Boyadjian, Managing Director at H.I.G. Capital added “H.I.G. is delighted to partner with the Dauphin family through our strategic investment in Ecore, a pioneer in a growing industry. H.I.G., through its participation in the advisory board, will provide the Group critical expertise in order to support Ecore in this new phase of development and help it unlock its full potential”.
About Ecore Group
Specialized in the recycling industry, Ecore is the number two player in France. The Group manages all stages of the recycling chain, from waste collection to processing, transport and sale of recycled materials, both in France and abroad. Ecore is a major player in the circular economy, employing over 1,360 people worldwide and generating turnover of c. €1 billion.
About H.I.G. Capital
H.I.G. is a leading global private equity and alternative assets investment firm with more than €20 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, Bogotá, Mexico City and Rio de Janeiro, 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:
- H.I.G. equity funds invest in management buyouts, recapitalisations and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
- H.I.G. 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.
- 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 200 companies worldwide. The firm's current portfolio includes more than 100 companies with combined sales in excess of €28 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.