September 26, 2016 — Recapitalizations
Hilco Plastics Holdings, LLC, a portfolio company of White Wolf Capital, underwent a recapitalization led by Fidus Investment Corporation. As part of this transaction, Fidus provided subordinated debt and made a minority equity investment to fund a shareholder distribution. The specific details of the recapitalization were not publicly disclosed.
White Wolf had previously partnered with Gemini Investors to recapitalize Hilco in August 2012 alongside the management team. Following this 2016 transaction, both White Wolf and Gemini maintained meaningful equity positions in the company.
Hilco manufactures plastic products using thermoplastic and gas-assist injection molding technology, serving customers in medical, automotive, furniture, marine and related sectors. The company also applies hard coat compositions and specializes in UV curable, robotically sprayed abrasion-resistant coatings. Founded in 1947, Hilco operates three manufacturing plants in Michigan.