Going Private • Information Technology

H.I.G. Private Equity Acquires Empower AI

On July 3, 2017, private equity firm H.I.G. Private Equity acquired information technology company Empower AI for 283M USD

Acquisition Context
  • This is H.I.G. Private Equity’s 13th transaction in the Information Technology sector.
  • This is H.I.G. Private Equity’s 12th largest (disclosed) transaction.
  • This is H.I.G. Private Equity’s 143rd transaction in the United States.
  • This is H.I.G. Private Equity’s 5th transaction in Virginia.

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M&A Deal Summary

Date July 3, 2017
Target Empower AI
Sector Information Technology
Buyer(s) H.I.G. Private Equity
Deal Type Going Private
Deal Value 283M USD
Advisor(s) Wells Fargo Securities
Stifel (Financial)
Paul Hastings (Legal)

Target Company

Empower AI

Reston, Virginia, United States
Empower AI provides AI-enabled solutions to government agencies, leveraging deep technical expertise and decades of experience in health, defense, and civilian missions. Empower AI was founded in 1989 and is based in Reston, Virginia.
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Buyer Overview 1

Buyer

H.I.G. Private Equity

Miami, Florida, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1993
PE ASSETS 65.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HIG Private Equity is the private equity arm of HIG Capital. The Firm focuses on management buyouts, growth equity investments, and recapitalizations of mid-sized to large companies valued between $50 million and $1 billion. HIG will also consider 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 is based in Miami, Florida.


Deal Context for Buyer #
Overall 209 of 385
Sector: Information Technology 13 of 28
Type: Going Private 8 of 11
State: Virginia 5 of 8
Country: United States 143 of 251
Year: 2017 14 of 21
Size (of disclosed) 12 of 25
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-15 Trace3

Irvine, California, United States

Trace3 is a digital transformation and IT solutions to provider for medium and large sized enterprise clients. The Company has established a regional market-leading position in the technology solutions provider space with significant expertise in areas such as Cloud, Security, Data Intelligence, DevOps, and Data Center solutions. Trace3 was founded in 2002 and is based in Irvine, California.

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FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-05 Deenova

Gragnano Trebbiense, Italy

Deenova is a provider of advanced services to hospitals. It offers integrated turn-key solutions to hospitals for the traceability and management of unit dose drugs and medical devices. Deenova solutions, which include proprietary software, patented robotic technologies and specialist support services, enable drugs and medical devices management from digital prescription to automated personalized unit dose treatment, up to software controlled administration to patients. Complete traceability of medications and medical devices allows significant reduction in errors in therapy management and in related waste, resulting in material savings for hospitals in terms of reduced drug spending and clinical risk. Deenova was founded in 2004 and is based in Gragnano Trebbiense, Italy.

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