Sverica International Management LLC (Boston, Mass.) announced March 6 that its Fund III has acquired Dexmet Corporation (Wallingford, Conn.) on March 1. Dexmet develops and manufactures highly-engineered expanded foils and polymers used in a variety of end markets. It 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 longterm 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, adds "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.