H.I.G. WhiteHorse Provides Financing to Novacel

H.I.G. WhiteHorse, the credit affiliate of H.I.G. Capital, has announced the provision of financing to support the carve-out acquisition of Chargeurs Films de Protection, also known as Novacel, by KPS Capital Partners, LP.

Novacel, established in 1982 as a division of Compagnie Chargeurs Invest SA, is a global manufacturer specializing in process and protective films, technical tapes, and specialty machines. The company serves over 3,000 customers globally across various industrial end-markets, including operations in Europe, the Americas, and Asia-Pacific, with core manufacturing facilities located in France, Italy, and the United States.

This financing package is intended to aid Novacel's transition into an independent platform after its carve-out from Compagnie Chargeurs Invest SA, facilitating the company's growth strategy under KPS's ownership.

Pascal Meysson, Head of H.I.G. WhiteHorse Europe, expressed confidence in KPS, highlighting Novacel's strong market positions, industrial expertise, and potential for growth. He stated, "This is exactly the type of transaction where H.I.G. WhiteHorse can leverage its deep experience supporting complex carve-outs and industrial businesses."

H.I.G. Capital is a prominent global alternative investment firm with $75 billion of capital under management. The firm, based in Miami, operates from multiple locations in the United States and has international offices across several major cities. It specializes in providing debt and equity capital to middle-market companies, focusing on various investment strategies across different sectors.