M&A Deal Summary

H.I.G. Private Equity Acquires Mobileum

On March 2, 2022, private equity firm H.I.G. Private Equity acquired software company Mobileum from Audax Private Equity for 915M USD

Acquisition Highlights
  • This is H.I.G. Private Equity’s 11th transaction in the Software sector.
  • This is H.I.G. Private Equity’s 2nd largest (disclosed) transaction.
  • This is H.I.G. Private Equity’s 208th transaction in the United States.
  • This is H.I.G. Private Equity’s 25th transaction in California.

M&A Deal Summary
Date 2022-03-02
Target Mobileum
Sector Software
Buyer(s) H.I.G. Private Equity
Sellers(s) Audax Private Equity
Deal Type Secondary Buyout
Deal Value 915M USD

Target

Mobileum

Cupertino, California, United States
Mobileum is a provider of mobile telecom roaming and analytics software. Mobileum provides products including Voice and Data Roaming, Fraud Analytics, Data Monetization, Analytics for Customer Experience, and Service Performance Measurement & Assurance, which allow operator networks to deliver a superior customer experience and grow revenue. Mobileum was founded in 2001 and is based in Cupertino, California.

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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 314 of 370
Sector (Software) 11 of 12
Type (Secondary Buyout) 47 of 68
State (California) 25 of 29
Country (United States) 208 of 246
Year (2022) 6 of 23
Size (of disclosed) 2 of 21
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-14 Titan Storage

Berkshire, United Kingdom

Titan Storage is a fast-growing self-storage operator and owner of 5 assets for a total of 142,000 sq. ft. that has a wide variety of storage options to suit requirements. Titan Storage is based in Berkshire, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-21 Lovett Care

Staffordshire, United Kingdom

Lovett Care owns and operates a portfolio of eight care homes with a total capacity exceeding 500 beds. Lovett Care offers a variety of care options, including residential care, dementia care, daycare, palliative care, nursing care, and respite care in Staffordshire, Cheshire, and the North West. Lovett Care is based in Staffordshire, United Kingdom.

Buy -

Seller(S) 1

SELLER

Audax Private Equity

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1999
PE ASSETS 19.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Audax Private Equity is a private equity firm focused on acquiring control positions in a variety of mid to large North American headquartered companies. The Firm segments its activities into lower middle-market and larger scale investing. Within its larger group, Audax targets profitable businesses valued up to $800 million and within its lower middle-market group, the Firm seeks companies valued up to $125 million. Sectors of interest include business services, consumer products/services, financial services, healthcare services, industrial services, software, and technology. Audax has a special interest in businesses that can benefit from a buy and build investment strategy for growth. Audax Private Equity was formed in 1999 and is based in Boston, Massachusetts.

DEAL STATS #
Overall 89 of 102
Sector (Software) 6 of 6
Type (Secondary Buyout) 51 of 55
State (California) 8 of 8
Country (United States) 85 of 97
Year (2022) 2 of 6
Size (of disclosed) 2 of 21
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-22 Alure Home Improvements

East Meadow, New York, United States

Alure Home Improvements is a direct-to-Consumer platform providing home remodeling products and services. Alure Home Improvements is based in East Meadow, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-11 Smart Care Equipment Solutions

St Paul, Minnesota, United States

Smart Care Equipment Solutions is a provider of commercial kitchen repair, maintenance services, and parts to the U.S. commercial foodservice industry. Equipment Care services 40,000 locations across 25 states with 500 technicians and 400 subcontractors and distributes 25K SKUs of OEM and private label parts. Smart Care Equipment Solutions is based in St Paul, Minnesota.

Sell -
Mergr

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