H.I.G. Europe, the European arm of global private equity firm H.I.G. Capital, announced that funds advised by H.I.G. European Capital Partners LLP have acquired Fibercore, Ltd., a U.K.-based global designer and manufacturer of specialty optical fibers, from Cisco.
Founded in 1982 and based in Southampton, England, Fibercore provides a range of specialty optical fiber products to customers globally within the aerospace, defense, and telecommunications industries. Fibercore has a strong specialist manufacturing heritage and has won four Queen’s Awards for Enterprise, including Innovation, Sustainable Development, and International Trade.
Fibercore’s products are central to navigation and stabilization systems used on platforms as diverse as long-haul airliners, business jets, helicopters, satellites, and space exploration vehicles developed for companies and government agencies in Europe, America, and Japan, describes a company spokesperson. Fibercore’s specialty optical fiber is also a component in power amplifiers providing the next generation of high-speed video and data transfer across the Internet.
H.I.G. Europe teamed with Fibercore management, headed by chief executive officer Chris Emslie, to complete the transaction and will work closely with management to support and help implement the company’s growth strategy. Fibercore’s plans include continued global leadership through product innovation and high-quality service delivery, helping increase geographic penetration and expansion into other related and developing markets.
"With H.I.G. Europe, Fibercore has found an investor with deep financial resources and global reach. We have been impressed with the H.I.G. team, their dynamism and approach and welcome them as partners for the next stage in Fibercore’s expansion,” Chris Emslie, CEO of Fibercore, comments.
“The long tenure of Fibercore’s customer relationships and unparalleled market position provide the perfect foundations for its future development,” Alastair Mills, director at H.I.G. Europe, adds.
The Fibercore investment marks H.I.G. Europe’s tenth new deal investment in the past 12 months and fourth since the start of 2011.