H.I.G. Capital, a leading global alternative investment firm with $55 billion of assets under management, announced that one of its affiliates has successfully completed the sale of Elekeiroz, a leader in the oxo-alcohols, plasticizers, phthalic & maleic anhydrides and sulfuric acid markets in Brazil. The purchaser is Oswaldo Cruz Química, a leading player in the Latin American specialty chemical market.

Fernando Marques Oliveira, Managing Director and Head of H.I.G. Brazil and Latin America said, “It has been a privilege to support Elekeiroz for the past five years. Alongside Elekeiroz’s management team, we were able to enhance the Company’s leading market position in Brazil, and execute several growth and cost-efficiency projects. We are confident that Elekeiroz is ready to enter into its next phase of growth, partnering with a significant player in the chemical market”.

Following its investment in 2018, H.I.G. worked with Elekeiroz’s management to expand production capacity, optimize the Company’s SG&A structure, and develop and execute a strategic five-year plan and forward looking ESG roadmap.

“By leveraging H.I.G.’s longstanding relationships in the chemicals industry, as well as our ability to execute a deal with a complex structure, we were able to steer the company to the next level by investing in green plasticizers and creating a leaner, more efficient organization, leading to an outstanding investment result”, said Thiago Miskulin, Managing Director of H.I.G. Brazil and Latin America.