Sumitomo Bakelite Co. Ltd. is buying private equity backed Vaupell Holdings Inc.
Seattle-based Vaupell makes interior parts for the aerospace industry. The company also manufactures parts for the defense, medical devices and measurement markets. The company is backed by private equity firm HIG Capital LLC.
Under Miami-based HIG's ownership, Vaupell acquired SciTech Plastics and Russell Plastics Technology.
Sumitomo, headquartered in Tokyo, Japan, creates plastic parts that are used in information technology parts and other products.
HIG has made a few exits this year, selling American Hardwood Industries to Baillie Lumber in March, and MagnaCare to a consortium led by a Goldman Sachs Group Inc. (NYSE: GS) affiliate in January.