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H.I.G. Acquires the Speciality Aluminas Activity of Rio Tinto

After many years as part of Pechiney, then Alcan and most recently Rio Tinto, the specialty aluminas business is an independent company following the sale to H.I.G. Capital Europe.

The new name for the business will be ALTEO.The business will maintain the existing production setup based upon the 4 facilities in Europe, headquartered in Gardanne, France, producing a unique range of products from specialty calcined aluminas to tabular and fused aluminas. The key markets for these products are ceramics, refractories, abrasives and glass, supported by an expanding global commercial network in Europe, Asia and USA. H.I.G. is a leading global private equity investment firm with more than USD 8,5 billion of equity capital under management and a team of more than 225 investment professionals. Based in Miami, with offices in the US, Brazil, and Europe (Paris, London, Hamburg, Madrid), H.I.G. specializes in providing capital to small and medium-sized companies with attractive growth potential. H.I.G. invests in management-led buyouts and recapitalizations of profitable and well managed manufacturing or service businesses. H.I.G. also has extensive experience in industrial carve out transactions. Since its founding in 1993, H.I.G.invested in more than 200 companies worldwide. The firm’s current portfolio includes more than 50 companies.

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