Seven Mile Capital Partners Announces the Closing of Its Previously Announced Acquisition of Microporous New York, NY – December 19, 2013 – Seven Mile Capital Partners
II LP,an affiliate of Seven Mile Capital Partners (“Seven Mile”), a leading middle - market private equity firm, has closed the previously announced acquisition of Microporous from Polypore International Inc.(“Polypore”) (NYSE:PPO) for $120mm.Polypore sold the business pursuant to a divestiture order from the Federal Trade Commission.
Microporous is a leading developer, manufacturer and marketer of high performance rubber, polyethylene (PE) and hybrid battery separators for flooded lead - acid batteries. Separators are a
highly - engineered, mission - critical component of lead - acid batteries. The company's separators are used by battery manufacturers for applications such as golf car batteries, forklift batteries,
standby power and Starting Lighting and Ignition ("SLI") batteries for automobiles and trucks. The company supplies an extensive customer base located across 23 countries and five continents. Microporous currently operates two plants, one in Piney Flats, TN and one in Feistritz, Austria. The company headquarters willbe located in Piney Flats, TN.
For more information please visit www.microporous.net.
About Seven Mile
Seven Mile Capital Partners is a New York City based private equity firm that seeks to acquire either control or substantial influence of both individual companies as well as portfolios of companies. Seven Mile Capital Partners focuses on underappreciated companies and opportunities in the Business Services, Financial Services and Industrial Industries Seven Mile Capital Partners, working in partnership with experienced management teams, focuses on companies where new capital, management alignment and a long-term investment horizon can help achieve superior investment returns.
More information on Seven Mile Capital Partners can be found at www.sevenmilecp.com.
Seven Mile Capital Partners, LP