H.I.G. Capital Mergers and Acquisitions Summary

Private Equity Profile

In the last 3 years, H.I.G. Capital has acquired 41 companies. It has also invested in 23 others.

H.I.G. Capital’s most common sectors for investment are business services (10%) and healthcare services (8%). The Firm’s most common investment types include buyout (lbo, mbo, mbi) (35%) and growth capital (18%). In total, H.I.G. Capital has invested in 32 US states and 17 different countries. Its largest (disclosed) acquisition occurred in 2014 when it acquired American Pacific for $392M.

In the last 3 years, H.I.G. Capital has exited 23 companies. The Firm’s most common exit type is trade sale (45%). H.I.G. Capital’s largest (disclosed) exit occurred in 2018 when it sold FNZ Group for $2.5B.

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M&A Summary

  • M&A Total Activity382
    • M&A Buy Activity281
    • M&A Sell Activity101
  • Total Sectors Invested 54
  • Total Countries Invested 17
  • M&A Buy/Sell Connections 111
  • M&A Advisors 23

H.I.G. Capital

1450 Brickell Avenue, 31st Floor,
Miami, Florida 33131
United States
(305) 379-2322
www.higcapital.com
info@higcapital.com

HIG Private Equity is the private equity arm of HIG Capital LLC. The firm focuses on management buyouts, growth equity investments, and recapitalizations of middle market companies with an enterprise value of $50 - $500 million. The Firm also will consider add-on acquisitions, industry consolidations, going-privates, and corporate divestitures. Sectors of interest include aerospace, building materials, business services, consumer products, distribution, healthcare, infrastructure, contracting, manufacturing, media, oil & gas services, IT, and transportation. HIG was formed in 1993 and has offices in Miami, Atlanta, Boston, and San Francisco. HIG's European affiliate is HIG Europe with offices in London, Hamburg, and Paris.


Investment Criteria

Sectors of Interest: Aerospace, Agriculture, Automotive, Building Materials, Business Services, Chemicals, Communications, Construction, Consumer Products, Consumer Services, Distribution, Education, Electrical Equipment, Electronics, Energy Services and Equipment, Engineering, Environmental, Financial Services, Food, Forest Products, Furniture, Healthcare Services, Information Technology, Insurance, Leisure, Life Science, Machinery, Manufacturing, Marine, Marketing, Metals/Mining, Plastics, Publishing, Real Estate, Retail, Safety/Security, Software, Staffing, Technology Hardware, Test/Measurement Equipment, Transportation

Target Transaction Types: Buyout (LBO, MBO, MBI), Consolidation, Divestiture, Going Private, Growth Capital, Recapitalization, Special Situations/Distressed

Geographic Preferences: East US, Midwest US, South US, West US, Western Europe, Eastern Europe

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size - -
Enterprise Value 50 500
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '16 '17 '18 '19 '20 '21 T
Buy (16.8/yr) # 197 20 21 19 16 8 281
vol $1.6B $283M $250M $2.2B
Sell (6.8/yr) # 67 11 16 3 4 - 101
vol $2.3B $217M $4.8B $935M $8.3B
  382

Most Recent M&A

Company Date Value Type
Brasília Indústria e Comércio de Alimentos LTDA. 2021-02-11 - Buyout (LBO, MBO, MBI)
, Brazil · www.fvoalimentos.com.br
eHealth, Inc. 2021-01-29 - Stake Purchase
Santa Clara, California · www.ehealthinsurance.com
Sitetracker, Inc. 2021-01-27 - Venture
Palo Alto, California · www.sitetracker.com
Continental Batteries 2021-01-21 - Secondary Buyout
Dallas, Texas · www.continentalbattery.com
JumpCloud, Inc. 2021-01-12 - Venture
Boulder, Colorado · www.jumpcloud.com
Makios Logistics SA 2021-01-07 - Growth Capital
Kalochori, Greece · www.makioslogistics.com
Action Packaging 2021-01-05 - Growth Capital
City of Industry, California · www.actionpackagingfilms.com
Signature Flexible Packaging, Inc. 2021-01-05 - Growth Capital
Commerce, California · www.signatureflexible.com
Crothall Healthcare 2020-12-31 - Divestiture
Wayne, Pennsylvania · www.crothalllaundryservices.com
KM2 Solutions LLC 2020-12-22 - Growth Capital
New York, New York · www.km2solutions.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Royo Group SL 2016-12-23 Royo Group International Bathroom 2021-01-20 1
Valencia, Spain · www.royogroup.com Valencia, Spain · www.rginternationalbathroom.com
Royo Group SL 2016-12-23 RGIB - Shower Tray Business 2021-01-20 2
Valencia, Spain · www.royogroup.com Valencia, Spain
Hart & Cooley LLC 2020-10-07 Hart & Cooley Flexible Duct Business 2020-12-21 1
Grand Rapids, Michigan · www.hartandcooley.com Grand Rapids, Michigan
Vernacare Ltd. 2020-02-18 Frontier Medical - Infection Prevention Business 2020-07-14 1
Chorley, United Kingdom · www.vernacare.com Blackwood, United Kingdom
Haltermann Carless Specialties 2011-07-18 Haltermann GmbH - Oxo-Product Business 2020-03-23 1
Hamburg, Germany · www.haltermann.com Manvel, Texas
Eletromidia S.A. 2013-09-09 Elemidia S.A. 2020-02-04 3
Barueri, Brazil · www.eletromidia.com.br São Paulo, Brazil · www.elemidia.com.br
Vision Integrated Graphics Group 2018-12-11 SourceLink LLC 2019-11-21 2
Bolingbrook, Illinois · www.visionps.com Itasca, Illinois · www.sourcelink.com
Vantage Specialty Chemicals, Inc. 2017-09-20 Grupo Plimon - Natural Oils Business 2019-04-03 4
Chicago, Illinois · www.vantagegrp.com Granollers, Spain
M.J. Maillis Group 2015-02-20 Wulftec International Inc. 2018-12-21 1
Athens, Greece · www.maillis.com Ayer’s Cliff, Quebec · www.wulftec.com
Vantage Specialty Chemicals, Inc. 2017-09-20 LEUNA-Tenside GmbH 2018-11-23 3
Chicago, Illinois · www.vantagegrp.com Leuna, Germany · www.leuna-tenside.de

M&A by Sector

Sector Current # Value All-time # Value
Business Services 13 (7%) - 27 (10%) -
Information Technology 14 (8%) 283M (28%) 21 (7%) 643M (30%)
Healthcare Services 15 (9%) 278M (27%) 21 (7%) 278M (13%)
Marketing 10 (6%) - 16 (6%) 59M (3%)
Chemicals 8 (5%) - 12 (4%) 572M (26%)
Building Materials 9 (5%) 80M (8%) 12 (4%) 80M (4%)
Manufacturing 8 (5%) - 11 (4%) -
Transportation 6 (3%) - 10 (4%) -
Distribution 3 (2%) - 9 (3%) -
Food 4 (2%) - 8 (3%) -
Medical Products 5 (3%) - 7 (2%) 75M (3%)
Environmental 4 (2%) - 7 (2%) -
Packaging 6 (3%) - 7 (2%) -
Automotive 2 (1%) - 6 (2%) -
Software 4 (2%) - 6 (2%) -
Consumer Products 3 (2%) - 5 (2%) -
Internet Software and Services 4 (2%) - 5 (2%) -
Technology Hardware 5 (3%) - 5 (2%) -
Retail 3 (2%) 100M (10%) 4 (1%) 100M (5%)
Communications 2 (1%) - 4 (1%) 75M (3%)
Apparel/Textiles 4 (2%) - 4 (1%) -
Consumer Services 4 (2%) - 4 (1%) -
Machinery 2 (1%) - 4 (1%) -
Media 3 (2%) - 4 (1%) -
Staffing 1 (1%) - 4 (1%) -
Aerospace 3 (2%) 29M (3%) 3 (1%) 29M (1%)
Education 3 (2%) - 3 (1%) -
Financial Services 1 (1%) - 3 (1%) -
Leisure 2 (1%) - 3 (1%) -
Metals/Mining 1 (1%) - 3 (1%) -
Real Estate 2 (1%) - 3 (1%) -
Restaurants 2 (1%) - 3 (1%) -
Life Science 2 (1%) 250M (25%) 2 (1%) 250M (12%)
Beverages 1 (1%) - 2 (1%) -
Construction 2 (1%) - 2 (1%) -
Digital Media 2 (1%) - 2 (1%) -
Electrical Equipment 1 (1%) - 2 (1%) -
Electronics 1 (1%) - 2 (1%) -
Energy Services and Equipment 1 (1%) - 2 (1%) -
Forest Products - - 2 (1%) -
Furniture 2 (1%) - 2 (1%) -
Information Services 2 (1%) - 2 (1%) -
Insurance 1 (1%) - 2 (1%) -
Plastics - - 2 (1%) -
Publishing - - 2 (1%) -
Test/Measurement Equipment - - 2 (1%) -
Utilities - - 2 (1%) -
Agriculture - - 1 (< 1%) -
E-Commerce 1 (1%) - 1 (< 1%) -
Engineering - - 1 (< 1%) -
Gaming 1 (1%) - 1 (< 1%) -
Marine - - 1 (< 1%) -
Oil/Gas Exploration 1 (1%) - 1 (< 1%) -
Safety/Security - - 1 (< 1%) -
Total 174 $1.0B 281 $2.2B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 92 (53%) 590M (58%) 179 (64%) 1.7B (78%)
  Florida 10 (6%) - 21 (7%) -
  California 13 (7%) - 20 (7%) -
  Texas 9 (5%) - 17 (6%) 75M (3%)
  Georgia 2 (1%) - 14 (5%) -
  New York 9 (5%) 278M (27%) 13 (5%) 670M (31%)
  Illinois 3 (2%) - 10 (4%) 22M (1%)
  Virginia 6 (3%) 283M (28%) 8 (3%) 283M (13%)
  Ohio 5 (3%) 29M (3%) 8 (3%) 29M (1%)
  Massachusetts 4 (2%) - 7 (2%) 360M (17%)
  Arizona 4 (2%) - 6 (2%) -
  Utah 4 (2%) - 5 (2%) -
  Tennessee 1 (1%) - 5 (2%) -
  Colorado 3 (2%) - 4 (1%) -
  North Carolina 3 (2%) - 4 (1%) -
  Michigan 2 (1%) - 4 (1%) -
  Pennsylvania 1 (1%) - 4 (1%) -
  New Jersey 2 (1%) - 3 (1%) 75M (3%)
  Louisiana 1 (1%) - 3 (1%) 180M (8%)
  Missouri 1 (1%) - 3 (1%) -
  Indiana 2 (1%) - 2 (1%) -
  Wisconsin 2 (1%) - 2 (1%) -
  Mississippi 1 (1%) - 2 (1%) -
  Minnesota 1 (1%) - 2 (1%) -
  Maryland 1 (1%) - 2 (1%) -
  Washington 1 (1%) - 2 (1%) -
  Alabama - - 2 (1%) -
  Connecticut 1 (1%) - 1 (< 1%) -
  New Hampshire - - 1 (< 1%) -
  Kansas - - 1 (< 1%) -
  Idaho - - 1 (< 1%) -
  Arkansas - - 1 (< 1%) -
  Oklahoma - - 1 (< 1%) -
Brazil 17 (10%) - 17 (6%) -
United Kingdom 8 (5%) 100M (10%) 17 (6%) 137M (6%)
Canada 10 (6%) 330M (32%) 12 (4%) 330M (15%)
  Ontario 5 (3%) 80M (8%) 5 (2%) 80M (4%)
  Quebec 2 (1%) - 2 (1%) -
  British Columbia 1 (1%) - 2 (1%) -
  Prince Edward Island 1 (1%) 250M (25%) 1 (< 1%) 250M (12%)
  Alberta 1 (1%) - 1 (< 1%) -
  Manitoba - - 1 (< 1%) -
Germany 9 (5%) - 12 (4%) -
Italy 11 (6%) - 11 (4%) -
Spain 8 (5%) - 9 (3%) -
  Ohio 1 (1%) - 1 (< 1%) -
France 6 (3%) - 9 (3%) -
Greece 3 (2%) - 3 (1%) -
Austria 2 (1%) - 2 (1%) -
Norway 2 (1%) - 2 (1%) -
Belgium 1 (1%) - 2 (1%) -
Netherlands 1 (1%) - 2 (1%) -
Colombia 1 (1%) - 1 (< 1%) -
Poland 1 (1%) - 1 (< 1%) -
Sweden 1 (1%) - 1 (< 1%) -
Switzerland 1 (1%) - 1 (< 1%) -
Domestic 92 (53%) 590M (58%) 179 (64%) 1.7B (78%)
Cross-border 82 (47%) 430M (42%) 102 (36%) 467M (22%)
Total 174 $1.0B 281 $2.2B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 51 (29%) 129M (13%) 96 (34%) 543M (25%)
Growth Capital 39 (22%) - 49 (17%) -
Secondary Buyout 29 (17%) - 38 (14%) -
Divestiture 24 (14%) 330M (32%) 34 (12%) 547M (25%)
Recapitalization 5 (3%) - 20 (7%) -
Stake Purchase 14 (8%) - 17 (6%) -
Special Situations/Distressed 4 (2%) - 8 (3%) -
Venture 4 (2%) - 8 (3%) -
Going Private 3 (2%) 561M (55%) 7 (2%) 1.1B (50%)
Consolidation 1 (1%) - 3 (1%) -
PIPE - - 1 (< 1%) -
Total 174 $1.0B 281 $2.2B

Exits by Deal Type

Type Total # Value
Secondary Sale 43 (43%) 2.6B (32%)
Trade Sale 24 (24%) 1.3B (16%)
Trade Sale - Public Company 23 (23%) 4.2B (52%)
IPO 3 (3%) -
Merger 3 (3%) -
Sold to Management 2 (2%) -
Bankruptcy 1 (1%) -
Recapitalization 1 (1%) -
Shut Down 1 (1%) -
Total 101 $8.1B

Top M&A Advisors

Financial Deals
Lincoln International
5
Credit Suisse Investment Banking
3
Greenberg Advisors LLC
2
Legal Deals
Ropes & Gray LLP
7
Kirkland & Ellis LLP
6
McDermott Will & Emery LLP
5

Deal Values

buy # Total
$100M to $1B 7 $1.8B
< $100M 6 $318M
TOTAL $2.2B
Largest American Pacific Corp.
$392M (2014-01-10)
sell # Total
> $1B 2 $4.3B
$100M to $1B 12 $3.6B
< $100M 5 $292M
TOTAL $8.3B
Largest FNZ Group
$2.5B (2018-10-09)

M&A Connections

Deals
Acquired from
Investor(s)
14%
39 (14%)
Strategic(s)
12%
34 (12%)
Exited to
Investor(s)
44%
44 (44%)
Strategic(s)
48%
48 (48%)

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