CapVest to Buy Industrial Chemicals Firm Recochem From H.I.G.

Private equity firm CapVest Partners has agreed to acquire Recochem, a specialty chemicals manufacturer focused on the automobiles industry, from rival buyout firm H.I.G. Capital.

Montreal, Quebec-based Recochem, a manufacturer and distributor of after-market transportation and household fluids, has more than $1 billion in revenues, according to a statement Monday.

The company, founded in 1951, makes products including coolants, windshield washer fluid, hand sanitizers and surface cleaners. Financial terms weren’t disclosed.

“The company is well-positioned to continue expanding both organically and through strategic mergers and acquisitions, which will drive growth and benefit its customers,” CapVest Partner Timothy Colson ...