M&A Deal Summary

H.I.G. Private Equity Acquires Strada

On March 20, 2024, private equity firm H.I.G. Private Equity acquired business services company Strada from Alight Solutions for 1.2B USD

Acquisition Highlights
  • This is H.I.G. Private Equity’s 39th transaction in the Business Services sector.
  • This is H.I.G. Private Equity’s largest (disclosed) transaction.
  • This is H.I.G. Private Equity’s 234th transaction in the United States.
  • This is H.I.G. Private Equity’s 27th transaction in Florida.

M&A Deal Summary
Date 2024-03-20
Target Strada
Sector Business Services
Buyer(s) H.I.G. Private Equity
Sellers(s) Alight Solutions
Deal Type Divestiture
Deal Value 1.2B USD

Target

Strada

Doral, Florida, United States
Strada provides an end-to-end offering of technology and services, including U.S. and multi-country global payroll, HR administration & outsourced services, and cloud technology advisory deployment & application managed services. Strada is based in Doral, Florida.

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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 353 of 371
Sector (Business Services) 39 of 41
Type (Divestiture) 44 of 45
State (Florida) 27 of 28
Country (United States) 234 of 246
Year (2024) 6 of 24
Size (of disclosed) 1 of 21
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-03-14 Spheros

Gilching, Germany

Spheros is engaged in the development and manufacture of air conditioning systems, heaters, coolant pumps, and other related hardware. Spheros offers tailored solutions for all passenger buses and coaches (both conventional and electric), as well as refrigerated transportation fleets. Spheros was founded in 1956 and is based in Gilching, Germany.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-04-09 Segers

Fairhope, Alabama, United States

Segers provides full repair and overhaul of Hercules and P-3 propellers, including valve housings and pump housings. Segers was founded in 1976 and is based in Fairhope, Alabama.

Buy -

Seller(S) 1

SELLER

Alight Solutions

Lincolnshire, Illinois, United States
Category Company
Sector Information Technology
Employees18,000
Revenue 3.1B USD (2023)
DESCRIPTION

Alight Solutions is a provider of outsourced benefits administration and human capital technology. The Company helps drive better health and financial outcomes for employers, employees and plan participants by leveraging proprietary technology, deep domain expertise and global delivery capabilities. Alight Solutions is based in Lincolnshire, Illinois.

DEAL STATS #
Overall 2 of 2
Sector (Business Services) 1 of 1
Type (Divestiture) 2 of 2
State (Florida) 1 of 1
Country (United States) 2 of 2
Year (2024) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-06 Reed Group

Westminster, Colorado, United States

Reed Group is a provider of absence management services that help employers comply with federal and state regulation and get employees back to work quickly and safely. Reed Group has been a trusted partner to employers, insurers, TPAs, government organizations, attorneys, and healthcare providers. Reed Group was formed in 1860 and is based in Westminster, Colorado.

Buy -
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