STELLUS CAPITAL MANAGEMENT, LLC PROVIDES UNITRANCHE FINANCING IN SUPPORT OF HIDDEN HARBOR CAPITAL PARTNERS' ACQUISITION OF NORPLEX MICARTA

HOUSTON, Nov. 12, 2024 /PRNewswire/ -- Stellus Capital Management, LLC ("Stellus"), alongside its affiliates, provided senior debt financing to support the acquisition of Norplex Micarta ("Company") from Industrial Dielectrics Holdings, Inc. by Hidden Harbor Capital Partners ("Hidden Harbor").

Based in Postville, Iowa, Norplex Micarta is one of North America's leading producers of high-performance thermoset composite materials. By providing high quality technically advanced composites to unique customer specifications, Norplex Micarta has become the provider of choice for OEMs, fabricators, and distributors serving the electrification and industrial end markets.

"Hidden Harbor looks forward to providing operational and financial resources to support the Norplex Micarta team as they scale operations and execute on the company's growth strategy," said Ben Koch, Vice President at Hidden Harbor, adding, "We appreciate Stellus' support on the transaction and look forward to working with the Stellus team as we look to execute on the company's strategic growth initiatives."

Gavin Roseman, Managing Director at Stellus, added, "We are excited to partner with Hidden Harbor and the Norplex Micarta team. The Company's unique value proposition combined with Hidden Harbor's knowledge of the specialty materials sector creates a compelling investment opportunity to capitalize on actionable growth opportunities across a variety of end markets."

SOURCE Stellus Capital Management, LLC