H.I.G. WhiteHorse Finances Novacel Carve-Out

H.I.G. WhiteHorse, the credit arm of H.I.G. Capital, has announced the provision of financing for the acquisition of Chargeurs Films de Protection, known as Novacel, by KPS Capital Partners. This move supports Novacel’s transition into an independent entity.

Established in 1982, Novacel manufactures process and protective films used in various industries. It operates in over 3,000 global markets with facilities in France, Italy, and the U.S. The financing is expected to help Novacel implement its growth strategy under KPS ownership.

Pascal Meysson of H.I.G. WhiteHorse highlighted Novacel's strong market presence and potential for growth as key factors in the financing decision. H.I.G.'s involvement aims to leverage their expertise in complex carve-outs and industrial enterprises.