Aurora Capital Group Completes Acquisition of Porex Corporation
20 10월 2009 - 9:41PM
PR Newswire (US)
Marks Second Platform Transaction to Close in Recent Months LOS
ANGELES, Oct. 20 /PRNewswire/ -- Aurora Capital Group ("Aurora"), a
Los Angeles-based private equity firm with over $2.0 billion of
assets under management, today announced that it has completed the
acquisition of Porex Corporation ("Porex" or the "Company"),
formerly a wholly owned subsidiary of HLTH Corporation
(NASDAQ:HLTH), for $142 million in cash and senior secured debt.
Gerald L. Parsky, Chairman of Aurora Capital Group, said, "We look
forward to working with Porex's management team and talented
employees to build upon the Company's past achievements. Aurora is
committed to helping Porex expand its strong market position in
porous plastics and further enhance its materials science expertise
in support of its global customer base." John T. Mapes, Managing
Partner of Aurora Capital Group, added, "We are pleased with the
successful completion of our acquisition of Porex. Importantly,
this transaction, which follows our acquisition of RecoverCare and
MedaSTAT, marks Aurora's second platform acquisition to close since
the summer. Our investment discipline during the surge in private
equity transactions of recent years has allowed us to capitalize on
attractive opportunities today. Aurora's increased acquisition pace
is a testament to our enthusiasm about the current investing
environment." As previously announced, in August 2009 Aurora
completed the purchase and merger-of-equals transaction to combine
RecoverCare, LLC, and MedaSTAT USA, LLC, to create a leading
provider of wound care and bariatric treatment solutions for acute
and post-acute care markets. Additionally, Aurora portfolio
companies have executed six portfolio company tuck-in acquisitions
in 2009, with two transactions completed by each of Anthony
International, a leader in the U.S. commercial refrigeration
industry and the world's largest manufacturer of specialty glass,
Mitchell International, a leading provider of information services
and technology solutions designed to automate and optimize the
automobile insurance claims and workers' compensation claims
processes, and NuCO2 Incorporated, the nation's largest and sole
national provider of bulk CO2 equipment rental and refill
solutions. ABOUT AURORA CAPITAL GROUP Aurora is a Los Angeles-based
private equity firm managing over $2.0 billion that utilizes two
distinct investment strategies. Aurora Equity focuses principally
on control-investments in middle-market industrial, manufacturing
and selected service oriented businesses, each with a leading
position in sustainable niches, a strong cash flow profile, and
actionable opportunities for both operational and strategic
enhancement. Aurora Resurgence invests in debt and equity
securities of middle-market companies and targets complex
situations that are created by operational or financial challenges
either within a company or a broader industry. For more information
about Aurora Capital Group, visit http://www.auroracap.com/ or
http://www.aurorares.com/. ABOUT POREX CORPORATION Founded in 1961
and based in Fairburn, GA, Porex is the leading global developer,
manufacturer and distributor of porous plastic products. The
Company primarily serves the healthcare and surgical end markets,
and also supports high-performance applications in the consumer and
industrial sectors. Porex products serve filtration, venting,
wicking, and diffusing functions in applications such as blood
filters, catheter vents, fuel filters, writing instrument tips and
consumable diagnostic tests. In addition, through its MEDPOR brand,
Porex's surgical products are the first FDA-cleared porous plastic
implants for use in craniofacial and orbital reconstructive
surgery. Porex, which pioneered porous plastic technology over 40
years ago, is today widely recognized for its materials science
expertise and proprietary designs which serve over 1,250 customers
across more than 75 countries via operations in North America,
Europe and Asia. For more information about Porex Corporation,
visit http://www.porex.com/. For Aurora Capital Group: Matthew
Sherman / Jaime Wert Joele Frank, Wilkinson Brimmer Katcher (212)
355-4449 DATASOURCE: Aurora Capital Group CONTACT: Matthew Sherman
or Jaime Wert, of Joele Frank, Wilkinson Brimmer Katcher,
+1-212-355-4449, for Aurora Capital Group Web Site:
http://www.auroracap.com/ http://www.aurorares.com/
http://www.porex.com/
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