Investment Summary

H.I.G. Private Equity and Cobalt Ventures Invest In Concord

On April 6, 2021, private equity firms H.I.G. Private Equity and Cobalt Ventures invested in information technology company Concord

Investment Highlights
  • This is H.I.G. Private Equity’s 20th and Cobalt Ventures’ 1st transaction in the Information Technology sector.
  • This is H.I.G. Private Equity’s 188th and Cobalt Ventures’ 7th transaction in the United States.
  • This is H.I.G. Private Equity’s 3rd and Cobalt Ventures’ 1st transaction in Minnesota.

Investment Summary

Date 2021-04-06
Target Concord
Sector Information Technology
Investor(s) H.I.G. Private Equity
Cobalt Ventures
Deal Type Growth Capital
Advisor(s) Hennepin Partners LLC
Clearsight Advisors, Inc. (Financial)
Faegre Baker Daniels LLP (Legal)

Target

Concord

Hopkins, Minnesota, United States
Concord is a technology consulting and digital transformation firm supporting operations in Eastern Europe. Concord serves leading enterprises and innovators in the healthcare, technology, manufacturing, and financial services industries. Concord was founded in 2003 and is based in Hopkins, Minnesota.

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Investor(S) 2

Investor

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 285 of 369
Sector (Information Technology) 20 of 25
Type (Growth Capital) 52 of 67
State (Minnesota) 3 of 4
Country (United States) 188 of 245
Year (2021) 12 of 35
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-05 SMTC

Markham, Ontario, Canada

SMTC is a provider of end-to-end electronics manufacturing services (EMS) including PCBA production, systems integration, and comprehensive testing services, enclosure fabrication, as well as product design, sustaining engineering, and supply chain management services. SMTC was founded in 1985 and is based in Markham, Canada.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-20 Windows USA

Irving, Texas, United States

Windows USA is a provider of replacement vinyl windows to homeowners in 20 states across the Southern U.S. Windows USA also provides its high-quality products and services to wholesale distributors and dealers through its Window Mart affiliate. Windows USA is based in Irving, Texas.

Buy -
DESCRIPTION

Cobalt Ventures is the private equity investment arm of Blue Cross and Blue Shield of Kansas City. The Firm looks to invest $10 to $75 million (majority or minority positions) to support scalable, high-growth healthcare companies that are seeking to increase the overall quality of healthcare services, improve outcomes and lower costs for customers and members. Specific areas of interest include home healthcare/hospice, outpatient services, telehealth, pharmaceutical distribution, and tech-enabled healthcare services. Cobalt Ventures is based in Kansas City, Missouri.


DEAL STATS #
Overall 7 of 8
Sector (Information Technology) 1 of 1
Type (Growth Capital) 3 of 3
State (Minnesota) 1 of 1
Country (United States) 7 of 8
Year (2021) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-25 Bardavon

Overland Park, Kansas, United States

Bardavon is a cloud-based, clinical intelligence and analytics company focused on improving musculoskeletal patient outcomes in both the workers’ compensation and commercial healthcare arena. Bardavon was founded in 2013 and is based in Overland Park, Kansas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-14 RecoveryOne

Walnut Creek, California, United States

RecoveryOne partners with health plans and self-insured employers to provide a digital physical therapy platform to their members. RecoveryOne was founded in 2014 and is based in Walnut Creek, California.

Buy -