Miami, FL, November 10, 2011 --(PR.com
)-- The purchase of Russell further expands the scope of products and services Vaupell offers to its customers with the addition of composite manufacturing capabilities, and provides Vaupell expanded access to the rotorcraft and military markets.
Joe Jahn, the CEO of Vaupell, remarked, “This acquisition is the culmination of a focused initiative to pursue a strategic combination with a technical supplier of composite plastics products. We see growing demand for light-weight, structurally tough composite parts in all of our market segments, especially in aerospace and defense. We believe this acquisition will allow us to better support our customers on a global basis.”
Jahn also stressed, “Vaupell is delighted to have a company with over 50 years of manufacturing experience aligned with our markets segments, business values, and strategic vision join the team.”
The current President of Russell, Alexander Bozza, will remain and join the board of Vaupell. Other key members of Russell management will retain their current roles.
“Joining forces with Vaupell provides Russell significant additional strategic, operational, marketing and financial resources and will greatly benefit our customers and employees,” said Alexander Bozza. “We are excited about the acquisition and potential to grow the combined business going forward.”
“The addition of Russell will provide Vaupell with both new tools and services to offer to current customers as well as access to highly complementary new customers and end markets,” said Fabian de Armas, a Principal of H.I.G. “We look forward to the continued growth of the combined Vaupell-Russell.”
H.I.G. Capital is a leading global private equity investment firm based in Miami. The firm has more than $8.5 billion of capital under management. H.I.G. specializes in providing capital to small and medium sized businesses and has offices in Atlanta, Boston, New York and San Francisco, as well as Hamburg, London and Paris in Europe.