HIG Capital has announced the recapitalization of MISCOwater through the newly launched United Flow Technologies. UFT will be the firm’s investment platform for municipal and industrial water and wastewater market.
Founded in 1972, MISCOwater provides processing service and equipment to the municipal water, waste water and industrial markets. It operates in ten states in western US.
Rahul Vinnakota, managing director at H.I.G, said “We are very excited to partner with the MISCOwater management team, who have a proven track record of providing the highest levels of quality products and services to their customers on behalf of leading OEMs.
“The Company’s blue-chip customer base, close relationships with leading OEMs, and multiple growth levers make this an attractive investment.”
HIG Capital currently has $44bn of equity capital under management. The firm closed HIG Capital Partners VI on $1.3bn last year.
The firm also raised a $1.4bn credit fund in March to “capitalize on the compelling investment opportunities” available in the wake of Covid-19 volatility. The fund was already 25% committed at the time.
Recent deals from the firm include buying into guest-room entertainment provider Enseo last month and the divestment of German portfolio company WERU Group to Dovista in a trade deal earlier in the month.
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