H.I.G. Capital, a major player in the middle market investment space, is making headlines once again with a series of strategic acquisitions. Recently, the Miami-based firm has announced significant deals that promise to diversify its portfolio and expand its reach across various sectors.
On August 27, 2024, H.I.G. Capital’s portfolio company, Hibu Inc., completed the acquisition of RevLocal, LLC. This merger is set to create a robust digital marketing solution tailored for small and medium-sized businesses (SMBs) across the United States. Kevin Jasper, CEO of Hibu, highlighted the importance of this acquisition, noting that the integration of services will provide SMBs with a comprehensive marketing platform, enhancing customer reach and optimization.
H.I.G. Capital did not stop there. Earlier in August, the firm acquired Axis Europe Limited, a prominent UK provider of property maintenance services. This acquisition is particularly strategic as it will be merged with H.I.G.’s existing portfolio company, CLC Group. The combination aims to form a national powerhouse in the UK property maintenance industry. John Hayes, Founder and CEO of Axis, expressed his enthusiasm, stating that the merger will bring about significant geographical and operational synergies.
In July 2024, H.I.G. Capital also made a notable investment in Ascension Property Services (APS), based in Tennessee. APS specializes in providing mechanical, electrical, and plumbing services to commercial and industrial properties. Jon Contos, Managing Director at H.I.G. Capital, emphasized the growth potential this partnership holds, envisioning an expanded service offering and entry into new markets.
H.I.G. Capital’s strategy is evident: diversify and expand. With over $65 billion in capital under management and a history of investments in more than 400 companies globally, the firm is well-positioned to leverage its resources for continued growth. Matt Gullen, Managing Director at H.I.G. Capital, remarked that these acquisitions represent significant steps in their growth strategy, reinforcing their commitment to delivering top-tier solutions across various sectors.
As H.I.G. Capital continues to broaden its portfolio through strategic acquisitions, industry observers are keenly watching the firm’s next moves. With each acquisition, H.I.G. Capital sets a precedent for growth and innovation in the investment landscape.