H.I.G. Capital Signs Binding Agreement to Acquire TERRAS
TERRAS, a subsidiary of the Durr Group, has entered into a binding agreement to be acquired by H.I.G. Capital. The transaction, announced on July 6, is expected to close in the third quarter.
TERRAS, a subsidiary of the Durr Group, is set to be acquired by investment firm H.I.G. Capital. Durr announced on July 6 that a binding agreement has been signed for the purchase of TERRAS.
TERRAS specializes in industrial automation, providing solutions for sectors including electronics, automotive, and pharmaceuticals. According to the Durr Group, the sale is part of the company's strategic realignment to focus on its core businesses.
H.I.G. Capital is a global investment firm with over $75 billion in capital under management. The firm invests across a variety of industries, aiming to support the growth and development of its portfolio companies.
The transaction is expected to be finalized and closed within the third quarter of the year. Specifics regarding the purchase price or terms of the deal have not been disclosed.