M&A Deal Summary

H.I.G. Private Equity Acquires CXtec

On August 29, 2016, private equity firm H.I.G. Private Equity acquired technology hardware company CXtec

Acquisition Highlights
  • This is H.I.G. Private Equity’s 3rd transaction in the Technology Hardware sector.
  • This is H.I.G. Private Equity’s 132nd transaction in the United States.
  • This is H.I.G. Private Equity’s 7th transaction in New York.

M&A Deal Summary
Date 2016-08-29
Target CXtec
Sector Technology Hardware
Buyer(s) H.I.G. Private Equity
Deal Type Buyout (LBO, MBO, MBI)

Target

CXtec

Syracuse, New York, United States
CXtec is a provider of refurbished networking, and telephony hardware and data center cabling products to a diverse base of blue-chip customers. The Company and its equal2new brand of certified pre-owned equipment have established a market-leading position with deep domain expertise. CXtec’s systems and testing / certification processes ensure that IT procurement professionals are able to maintain and extend the life-cycle of existing IT infrastructure equipment by purchasing reliable refurbished hardware products at significant savings and short lead times. The Company’s growing RapidCare service provides third-party maintenance solutions. CXtec was founded in 1978 and is based in Syracuse, New York.

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Buyer(S) 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 LLC. The firm focuses on management buyouts, growth equity investments, and recapitalizations of middle market companies with an enterprise value of $50 - $1000 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.

DEAL STATS #
Overall 191 of 371
Sector (Technology Hardware) 3 of 4
Type (Buyout (LBO, MBO, MBI)) 64 of 114
State (New York) 7 of 14
Country (United States) 132 of 246
Year (2016) 10 of 15
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-08-29 TERACAI

Syracuse, New York, United States

TERACAI is a Cisco Premier Partner and a provider of IT infrastructure solutions. TERACAI plans, designs, implements and monitors IT solutions that address clients’ network, data center, cloud collaboration, security, mobility, and contact center needs. TERACAI is an invaluable partner to its clients, helping them navigate the highly complex and rapidly evolving IT landscape by delivering unparalleled technical expertise. TERACAI was founded in 2009 and is based in Syracuse, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-08-30 International School of Europe

Milan, Italy

The International School of Europe Group is a group of schools in Italy providing an outstanding education to over 1,800 local and expatriate students between the ages of 3 and 18 years old in Milan, Modena, Monza and Siena.

Sell -
Mergr

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