WALLINGFORD, Conn.--(BUSINESS WIRE)--Sverica International Management LLC (“Sverica”) announced today that its Fund III acquired Dexmet Corporation (“Dexmet” or the “Company”) on March 1, 2013. Dexmet develops and manufactures highly engineered expanded foils and polymers used in a variety of end markets. The Company provides solutions for a range of mission critical applications, including lightning strike protection for major composite aircraft manufacturers, anodes and cathodes for advanced battery technologies and supportive materials for filtration and automotive applications. It counts as its customers dozens of global blue chip industrial leaders.
Dexmet has established itself as the leading provider of precision expanded materials worldwide and is well-positioned for continued growth moving forward. “This partnership with Sverica comes at an exciting time for Dexmet,” stated Bob Bochman, President of Dexmet. “Sverica shares our long-term view of the considerable market opportunity for Dexmet’s products and will help us become even better strategic partners for our customers.”
Dave Finley, Managing Director at Sverica, added: "We are excited to partner with Bob Bochman and the rest of the Dexmet team. Dexmet will be a great addition to the Sverica portfolio, as the Company fits well with Sverica’s dedicated focus on niche manufacturers of specialty materials with track records of success and demonstrated growth prospects.”
Abacus Finance Group, LLC and Avante Mezzanine Partners provided financing for the transaction.
About Dexmet Corporation
Dexmet is a global leader in the development and manufacturing of highly engineered expanded foils and polymeric materials used in aerospace, battery, industrial, and other applications where precision characteristics are required. With a history dating back to 1948, Dexmet is a pioneer in the development of proprietary material expanding technology and equipment, including industry leading thinness and widths for product-specific applications. Dexmet partners and works closely with its customers to stay at the edge of new industrial technologies and applications. Dexmet is headquartered in Wallingford, Connecticut. For more information, please visit www.dexmet.com.
About Sverica International
Sverica International is a leading private equity firm that has raised over $425 million of investment capital. The firm acquires, invests in and actively builds companies that are, or could become, leaders in their industries. Since 1993 Sverica has maintained a “high touch” operating philosophy of taking an active role in portfolio companies. Sverica devotes significant internal resources to help its management teams develop and execute growth strategies. Sverica has offices in Boston and San Francisco. For more information, please visit www.sverica.com.