H.I.G. Capital Mergers and Acquisitions Summary

Private Equity Profile

In the last 3 years, H.I.G. Capital has acquired 48 companies. It has also invested in 29 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) (33%) and growth capital (19%). In total, H.I.G. Capital has invested in 33 US states and 17 different countries. Its largest (disclosed) acquisition occurred in 2021 when it acquired Travis Perkins - Plumbing & Heating Business for $500M.

In the last 3 years, H.I.G. Capital has exited 25 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 Activity397
    • M&A Buy Activity294
    • M&A Sell Activity103
  • Total Sectors Invested 54
  • Total Countries Invested 17
  • M&A Buy/Sell Connections 115
  • M&A Advisors 26

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 (19.4/yr) # 197 20 21 19 16 21 294
vol $1.6B $283M $250M $500M $2.7B
Sell (7.2/yr) # 67 11 17 3 3 2 103
vol $2.3B $217M $4.8B $935M $295M $8.6B
  397

Most Recent M&A

Company Date Value Type
CLEO Communications, Inc. 2021-06-09 - Secondary Buyout
Rockford, Illinois · www.cleo.com
Accounting Seed, Inc. 2021-05-26 - Growth Capital
Columbia, Maryland · www.accountingseed.com
CORA Health Services, Inc. 2021-05-25 - Secondary Buyout
Lima, Ohio · www.coraphysicaltherapy.com
Travis Perkins plc - Plumbing & Heating Business 2021-05-20 500M GBP Divestiture
Northampton, United Kingdom
Homewerks Worldwide LLC 2021-05-13 - Growth Capital
Lake Bluff, Illinois · www.homewerks.com
Infratech Bau GmbH 2021-05-10 - Growth Capital
Meppen, Germany · www.infratech-bau.de
Whitney, Bradley and Brown, Inc. 2021-04-26 295M USD Trade Sale - Public Company
Reston, Virginia · www.wbbinc.com
Windows USA LLC 2021-04-20 - Growth Capital
Royal, Arkansas · www.windowsusa.com
Concord USA LLC 2021-04-06 - Growth Capital
Hopkins, Minnesota · www.concordusa.com
SMTC Corp. 2021-04-05 - Going Private
Markham, Ontario · www.smtc.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%) - 28 (10%) -
Information Technology 14 (8%) 283M (19%) 22 (7%) 643M (24%)
Healthcare Services 16 (9%) 278M (18%) 22 (7%) 278M (10%)
Marketing 11 (6%) - 17 (6%) 59M (2%)
Building Materials 12 (6%) 581M (38%) 15 (5%) 581M (22%)
Chemicals 8 (4%) - 12 (4%) 572M (21%)
Manufacturing 8 (4%) - 12 (4%) -
Transportation 6 (3%) - 10 (3%) -
Distribution 3 (2%) - 9 (3%) -
Software 7 (4%) - 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%) -
Consumer Products 3 (2%) - 5 (2%) -
Internet Software and Services 4 (2%) - 5 (2%) -
Technology Hardware 5 (3%) - 5 (2%) -
Retail 3 (2%) 100M (7%) 4 (1%) 100M (4%)
Communications 2 (1%) - 4 (1%) 75M (3%)
Apparel/Textiles 4 (2%) - 4 (1%) -
Consumer Services 4 (2%) - 4 (1%) -
Media 3 (2%) - 4 (1%) -
Restaurants 3 (2%) - 4 (1%) -
Staffing 1 (1%) - 4 (1%) -
Aerospace 3 (2%) 29M (2%) 3 (1%) 29M (1%)
Construction 3 (2%) - 3 (1%) -
Education 3 (2%) - 3 (1%) -
Electronics 2 (1%) - 3 (1%) -
Financial Services 1 (1%) - 3 (1%) -
Leisure 2 (1%) - 3 (1%) -
Machinery 2 (1%) - 3 (1%) -
Metals/Mining 1 (1%) - 3 (1%) -
Real Estate 2 (1%) - 3 (1%) -
Life Science 2 (1%) 250M (16%) 2 (1%) 250M (9%)
Beverages 1 (1%) - 2 (1%) -
Digital Media 2 (1%) - 2 (1%) -
Electrical Equipment 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 185 $1.5B 294 $2.7B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 99 (54%) 590M (39%) 187 (64%) 1.7B (64%)
  California 14 (8%) - 22 (7%) 392M (15%)
  Florida 10 (5%) - 21 (7%) -
  Texas 9 (5%) - 17 (6%) 75M (3%)
  Georgia 2 (1%) - 14 (5%) -
  New York 9 (5%) 278M (18%) 12 (4%) 278M (10%)
  Illinois 5 (3%) - 12 (4%) 22M (1%)
  Ohio 6 (3%) 29M (2%) 9 (3%) 29M (1%)
  Virginia 5 (3%) 283M (19%) 8 (3%) 283M (11%)
  Massachusetts 4 (2%) - 7 (2%) 360M (14%)
  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%)
  Minnesota 2 (1%) - 3 (1%) -
  Maryland 2 (1%) - 3 (1%) -
  Louisiana 1 (1%) - 3 (1%) 180M (7%)
  Missouri 1 (1%) - 3 (1%) -
  Indiana 2 (1%) - 2 (1%) -
  Wisconsin 2 (1%) - 2 (1%) -
  Arkansas 1 (1%) - 2 (1%) -
  Washington 1 (1%) - 2 (1%) -
  Mississippi 1 (1%) - 2 (1%) -
  Alabama - - 2 (1%) -
  Iowa 1 (1%) - 1 (< 1%) -
  Connecticut 1 (1%) - 1 (< 1%) -
  Kansas - - 1 (< 1%) -
  Idaho - - 1 (< 1%) -
  Oklahoma - - 1 (< 1%) -
  New Hampshire - - 1 (< 1%) -
United Kingdom 10 (5%) 600M (39%) 19 (6%) 637M (24%)
Brazil 17 (9%) - 17 (6%) -
Canada 11 (6%) 330M (22%) 13 (4%) 330M (12%)
  Ontario 6 (3%) 80M (5%) 6 (2%) 80M (3%)
  Quebec 2 (1%) - 2 (1%) -
  British Columbia 1 (1%) - 2 (1%) -
  Prince Edward Island 1 (1%) 250M (16%) 1 (< 1%) 250M (9%)
  Alberta 1 (1%) - 1 (< 1%) -
  Manitoba - - 1 (< 1%) -
Germany 10 (5%) - 13 (4%) -
Italy 11 (6%) - 11 (4%) -
Spain 8 (4%) - 9 (3%) -
  Ohio 1 (1%) - 1 (< 1%) -
France 6 (3%) - 9 (3%) -
Greece 3 (2%) - 3 (1%) -
Norway 3 (2%) - 3 (1%) -
Austria 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%) -
Domestic 99 (54%) 590M (39%) 187 (64%) 1.7B (64%)
Cross-border 86 (46%) 931M (61%) 107 (36%) 968M (36%)
Total 185 $1.5B 294 $2.7B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 52 (28%) 129M (8%) 97 (33%) 543M (20%)
Growth Capital 44 (24%) - 54 (18%) -
Secondary Buyout 30 (16%) - 40 (14%) -
Divestiture 27 (15%) 831M (55%) 37 (13%) 1.0B (39%)
Recapitalization 5 (3%) - 20 (7%) -
Stake Purchase 13 (7%) - 17 (6%) -
Venture 5 (3%) - 9 (3%) -
Going Private 4 (2%) 561M (37%) 8 (3%) 1.1B (40%)
Special Situations/Distressed 4 (2%) - 8 (3%) -
Consolidation 1 (1%) - 3 (1%) -
PIPE - - 1 (< 1%) -
Total 185 $1.5B 294 $2.7B

Exits by Deal Type

Type Total # Value
Secondary Sale 43 (42%) 2.6B (31%)
Trade Sale 25 (24%) 1.3B (15%)
Trade Sale - Public Company 24 (23%) 4.5B (54%)
IPO 3 (3%) -
Merger 3 (3%) -
Sold to Management 2 (2%) -
Bankruptcy 1 (1%) -
Recapitalization 1 (1%) -
Shut Down 1 (1%) -
Total 103 $8.4B

Top M&A Advisors

Financial Deals
Lincoln International
 5
Houlihan Lokey
 3
Credit Suisse Investment Banking
 3
Legal Deals
McDermott Will & Emery LLP
 9
Ropes & Gray LLP
 8
Kirkland & Ellis LLP
 6

Deal Values

buy # Total
$100M to $1B 8 $2.3B
< $100M 6 $318M
TOTAL $2.7B
Largest Travis Perkins plc - Plumbing & Heating Business
$500M (2021-05-20)
sell # Total
> $1B 2 $4.3B
$100M to $1B 13 $3.9B
< $100M 5 $292M
TOTAL $8.6B
Largest FNZ Group
$2.5B (2018-10-09)

M&A Connections

Deals
Acquired from
Investor(s)
14%
41 (14%)
Strategic(s)
13%
37 (13%)
Exited to
Investor(s)
43%
44 (43%)
Strategic(s)
48%
49 (48%)

Investor Summary

Size

Mega

PE Assets

25.0B USD

Established

1993

Specialist/Generalist

Generalist

Leadership

Tony Tamer

Co-Founder & Co-CEO

Sami Mnaymneh

Founder & Co-CEO

Brian Schwartz

Co-President

Rick Rosen

Co-President

Wolfgang Biedermann

Executive Managing Director

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