GURNEE IL – H.I.G. Chemicals Holdings Corp. has acquired Petroferm Inc. Terms of the transaction were not disclosed.
 
Petroferm, specialty chemical manufacturer and formulator, had been privately held.
 
The acquisition by the private equity firm includes Petroferm’s operations in Gurnee, IL and Fernandina Beach, FL. The Joseph Storey (UK) division will be spun off to Petroferm shareholders.
 
H.I.G. acquired the North American oleochemical business Uniqema Americas earlier this year. The firm plans to maintain the two as distinct operating subsidiaries. The two businesses will have combined sales in excess of $300 million, the firm says.