H.I.G. Capital Mergers and Acquisitions Summary

Private Equity Profile

In the last 3 years, H.I.G. Capital has acquired 42 companies. It has also invested in 21 others.

H.I.G. Capital’s most common sectors for investment are business services (9%) and information technology (9%). The Firm’s most common investment types include buyout (lbo, mbo, mbi) (37%) and growth capital (18%). In total, H.I.G. Capital has invested in 32 US states and 16 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 30 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 Activity355
    • M&A Buy Activity261
    • M&A Sell Activity94
  • Total Sectors Invested 52
  • Total Countries Invested 16
  • M&A Buy/Sell Connections 105
  • M&A Advisors 22

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 ≤ '15 '16 '17 '18 '19 '20 T
Buy (15.4/yr) # 184 14 16 19 18 10 261
vol $1.2B $360M $283M $250M $2.1B
Sell (7.2/yr) # 58 6 11 14 2 3 94
vol $2.3B $217M $4.8B $7.3B
  355

Most Recent M&A

Company Date Value Type
Construction Forms, Inc. 2020-09-22 - Growth Capital
Port Washington, Wisconsin · www.conforms.com
DGS SpA 2020-09-11 - Buyout (LBO, MBO, MBI)
Rome, Italy · www.dgsspa.com
Project Informatica S.r.l. 2020-07-08 - Buyout (LBO, MBO, MBI)
Stezzano, Italy · www.project.it
Impact Products LLC 2020-06-30 - Divestiture
Toledo, Ohio · www.impact-products.com
The Safety Zone LLC 2020-06-30 - Divestiture
Guilford, Connecticut · www.safety-zone.com
USALCO LLC 2020-06-02 - Growth Capital
Baltimore, Maryland · www.usalco.com
AVI-SPL, Inc. 2020-04-07 - Secondary Buyout
Tampa, Florida · www.avispl.com
Lagardère Sports and Entertainment 2020-02-20 - Divestiture
Boulogne-Billancourt, France · www.lagardere-se.com
Vernacare Ltd. 2020-02-18 - Secondary Buyout
Chorley, United Kingdom · www.vernacare.com
American Pacific Corp. 2020-02-06 - Secondary Buyout
Niagara Falls, New York · www.apfc.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Circle Graphics, Inc. 2019-10-02 Bay Photo, Inc. 2020-09-01 2
Longmont, Colorado · www.circlegraphicsonline.com Scotts Valley, California · www.bayphoto.com
Meyra Group S.A. 2019-10-24 TA Service A/S 2020-08-13 1
Łódź, Poland · www.meyragroup.com Tappernøje, Denmark · www.ta-service.dk
Vernacare Ltd. 2020-02-18 Frontier Medical - Infection Prevention Business 2020-07-14 1
Chorley, United Kingdom · www.vernacare.com Blackwood, United Kingdom
Haltermann GmbH 2011-07-18 Haltermann GmbH - Oxo-Product Business 2020-03-23 1
Hamburg, Germany · www.haltermann.com Manvel, Texas
Wastequip LLC 2018-02-06 Consolidated Fabricators Corp. (ConFab) 2020-02-24 2
Charlotte, North Carolina · www.wastequip.com Van Nuys, California · www.con-fab.com
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
CADICAGROUP Spa 2019-05-07 Scatolificio Cartotecnica Giorgi S.r.l. 2020-01-21 1
Carpi MO, Italy · www.cadica.com Tolentino, Italy · www.scatolificiogiorgi.it
Whitney, Bradley and Brown, Inc. 2017-11-14 Decisive Analytics Corp. 2020-01-15 2
Reston, Virginia · www.wbbinc.com Arlington, Virginia · www.dac.us
Circle Graphics, Inc. 2019-10-02 Metromedia Technologies, Inc. 2020-01-06 1
Longmont, Colorado · www.circlegraphicsonline.com New York, New York · www.mmt.com
CONET Technologies AG 2017-05-02 PROCON IT AG 2019-12-12 2
Hennef, Germany · www.conet.de Garching, Germany · www.procon-it.de

M&A by Sector

Sector Current # Value All-time # Value
Business Services 10 (6%) - 23 (9%) -
Information Technology 15 (9%) 643M (44%) 22 (8%) 643M (31%)
Healthcare Services 14 (9%) 353M (24%) 20 (8%) 353M (17%)
Marketing 10 (6%) - 15 (6%) 59M (3%)
Manufacturing 10 (6%) - 12 (5%) -
Chemicals 7 (4%) - 11 (4%) 572M (27%)
Building Materials 8 (5%) 80M (6%) 11 (4%) 80M (4%)
Distribution 4 (2%) - 9 (3%) -
Consumer Products 6 (4%) - 8 (3%) -
Food 4 (2%) - 7 (3%) -
Technology Hardware 7 (4%) - 7 (3%) -
Automotive 2 (1%) - 6 (2%) -
Software 5 (3%) - 6 (2%) -
Staffing 3 (2%) - 6 (2%) -
Transportation 4 (2%) - 6 (2%) -
Environmental 2 (1%) - 5 (2%) -
Internet Software and Services 4 (2%) - 5 (2%) -
Medical Products 4 (2%) - 5 (2%) -
Packaging 4 (2%) - 5 (2%) -
Retail 3 (2%) 100M (7%) 4 (2%) 100M (5%)
Aerospace 4 (2%) 29M (2%) 4 (2%) 29M (1%)
Media 3 (2%) - 4 (2%) -
Apparel/Textiles 3 (2%) - 3 (1%) -
Communications 1 (1%) - 3 (1%) -
Education 3 (2%) - 3 (1%) -
Financial Services 1 (1%) - 3 (1%) -
Forest Products 1 (1%) - 3 (1%) -
Leisure 2 (1%) - 3 (1%) -
Machinery 1 (1%) - 3 (1%) -
Plastics 1 (1%) - 3 (1%) -
Real Estate 2 (1%) - 3 (1%) -
Restaurants 2 (1%) - 3 (1%) -
Life Science 2 (1%) 250M (17%) 2 (1%) 250M (12%)
Beverages 1 (1%) - 2 (1%) -
Construction 2 (1%) - 2 (1%) -
Digital Media 2 (1%) - 2 (1%) -
Electronics 1 (1%) - 2 (1%) -
Furniture 2 (1%) - 2 (1%) -
Metals/Mining - - 2 (1%) -
Publishing - - 2 (1%) -
Test/Measurement Equipment - - 2 (1%) -
Utilities - - 2 (1%) -
Agriculture - - 1 (< 1%) -
Consumer Services 1 (1%) - 1 (< 1%) -
Electrical Equipment - - 1 (< 1%) -
Energy Services and Equipment - - 1 (< 1%) -
Engineering - - 1 (< 1%) -
Gaming 1 (1%) - 1 (< 1%) -
Insurance - - 1 (< 1%) -
Marine - - 1 (< 1%) -
Oil/Gas Exploration 1 (1%) - 1 (< 1%) -
Safety/Security - - 1 (< 1%) -
Total 163 $1.5B 261 $2.1B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 88 (54%) 1.0B (70%) 166 (64%) 1.6B (78%)
  Florida 10 (6%) - 21 (8%) -
  Texas 8 (5%) - 16 (6%) -
  California 9 (6%) - 14 (5%) -
  Georgia 2 (1%) - 13 (5%) -
  New York 7 (4%) 278M (19%) 10 (4%) 670M (32%)
  Illinois 4 (2%) - 10 (4%) 22M (1%)
  Ohio 6 (4%) 29M (2%) 9 (3%) 29M (1%)
  Virginia 6 (4%) 283M (19%) 8 (3%) 283M (14%)
  Massachusetts 5 (3%) 360M (25%) 7 (3%) 360M (17%)
  New Jersey 5 (3%) 75M (5%) 5 (2%) 75M (4%)
  Utah 4 (2%) - 5 (2%) -
  Tennessee 1 (1%) - 5 (2%) -
  Louisiana 3 (2%) - 4 (2%) 180M (9%)
  North Carolina 3 (2%) - 4 (2%) -
  Arizona 2 (1%) - 4 (2%) -
  Colorado 2 (1%) - 3 (1%) -
  Missouri 1 (1%) - 3 (1%) -
  Michigan 1 (1%) - 3 (1%) -
  Pennsylvania - - 3 (1%) -
  Indiana 2 (1%) - 2 (1%) -
  Wisconsin 2 (1%) - 2 (1%) -
  Mississippi 2 (1%) - 2 (1%) -
  Washington 1 (1%) - 2 (1%) -
  Maryland 1 (1%) - 2 (1%) -
  Alabama - - 2 (1%) -
  Connecticut 1 (1%) - 1 (< 1%) -
  Kansas - - 1 (< 1%) -
  Idaho - - 1 (< 1%) -
  Arkansas - - 1 (< 1%) -
  Oklahoma - - 1 (< 1%) -
  New Hampshire - - 1 (< 1%) -
  Minnesota - - 1 (< 1%) -
United Kingdom 8 (5%) 100M (7%) 17 (7%) 137M (7%)
Brazil 16 (10%) - 16 (6%) -
Italy 12 (7%) - 12 (5%) -
Canada 10 (6%) 330M (23%) 12 (5%) 330M (16%)
  Ontario 5 (3%) 80M (6%) 5 (2%) 80M (4%)
  Quebec 2 (1%) - 2 (1%) -
  British Columbia 1 (1%) - 2 (1%) -
  Prince Edward Island 1 (1%) 250M (17%) 1 (< 1%) 250M (12%)
  Alberta 1 (1%) - 1 (< 1%) -
  Manitoba - - 1 (< 1%) -
Germany 9 (6%) - 12 (5%) -
Spain 6 (4%) - 7 (3%) -
France 3 (2%) - 6 (2%) -
Austria 2 (1%) - 2 (1%) -
Greece 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%) -
Domestic 88 (54%) 1.0B (70%) 166 (64%) 1.6B (78%)
Cross-border 75 (46%) 430M (30%) 95 (36%) 467M (22%)
Total 163 $1.5B 261 $2.1B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 52 (32%) 129M (9%) 96 (37%) 543M (26%)
Growth Capital 37 (23%) - 45 (17%) -
Secondary Buyout 25 (15%) - 33 (13%) -
Divestiture 21 (13%) 330M (23%) 31 (12%) 547M (26%)
Recapitalization 7 (4%) - 20 (8%) -
Stake Purchase 8 (5%) - 11 (4%) -
Special Situations/Distressed 4 (2%) - 8 (3%) -
Going Private 6 (4%) 996M (68%) 7 (3%) 996M (48%)
Venture 2 (1%) - 6 (2%) -
Consolidation 1 (1%) - 3 (1%) -
PIPE - - 1 (< 1%) -
Total 163 $1.5B 261 $2.1B

Exits by Deal Type

Type Total # Value
Secondary Sale 42 (45%) 2.6B (36%)
Trade Sale - Public Company 23 (24%) 4.2B (59%)
Trade Sale 21 (22%) 353M (5%)
IPO 3 (3%) -
Merger 2 (2%) -
Bankruptcy 1 (1%) -
Recapitalization 1 (1%) -
Sold to Management 1 (1%) -
Total 94 $7.2B

Top M&A Advisors

Financial Deals
Lincoln International
 5
Credit Suisse Investment Banking
 3
Greenberg Advisors LLC
 2
Legal Deals
Kirkland & Ellis LLP
 6
McDermott Will & Emery LLP
 5
Ropes & Gray LLP
 4

Deal Values

buy # Total
$100M to $1B 7 $1.8B
< $100M 5 $243M
TOTAL $2.1B
Largest American Pacific Corp.
$392M (2014-01-10)
sell # Total
> $1B 2 $4.3B
$100M to $1B 11 $2.7B
< $100M 5 $292M
TOTAL $7.3B
Largest FNZ Group
$2.5B (2018-10-09)

M&A Connections

Deals %
Acquired from
PE Firm(s)
57%
43 57%
Strategic(s)
43%
32 43%
Exited to
PE Firm(s)
56%
55 56%
Strategic(s)
44%
44 44%

Investor Summary

Size

Mega

PE Assets

25.0B USD

Established

1993

Specialist/Generalist

Generalist

Leadership

Sami Mnaymneh

Co-Founder & Co-CEO

Tony Tamer

Co-Founder & Co-CEO

Brian Schwartz

Executive Managing Director

Douglas Berman

Executive Managing Director

Rick Rosen

Executive Managing Director

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