HIG European Capital Partners GmbH has bought Haltermann Products, a German unit of Dow Chemical Co. that makes polyurethane foam additives and other hydrocarbon chemicals.
No purchase price was disclosed in the deal between Midland-based Dow and HIG, which is a unit of HIG Capital of Miami.
Haltermann is based in Hamburg, Germany, and operates a plant there, as well as one in Speyer, Germany. The firm is more than 100 years old and has annual sales of more than $200 million. It manufactures test and reference fuels, as well as cyclopentanes that are used as blowing agents in PU foam for insulation and energy conservation.
In a July 18 news release, officials said that Haltermann “has a strong blue-chip customer base and very strong ties with its suppliers based on decades of successful cooperation.”
HIG has invested in more than 200 companies in its 18-year history. Its current portfolio includes more than 50 firms with combined annual sales of more than $7 billion.