Investment Summary

H.I.G. Private Equity and Rho Acceleration Invest In Passport Labs

On December 16, 2019, private equity firms H.I.G. Private Equity and Rho Acceleration invested in internet software and services company Passport Labs

Investment Highlights
  • This is H.I.G. Private Equity’s 6th and Rho Acceleration’s 2nd transaction in the Internet Software and Services sector.
  • This is H.I.G. Private Equity’s 171st and Rho Acceleration’s 3rd transaction in the United States.
  • This is H.I.G. Private Equity’s 4th and Rho Acceleration’s 1st transaction in North Carolina.

Investment Summary

Date 2019-12-16
Target Passport Labs
Sector Internet Software and Services
Investor(s) H.I.G. Private Equity
Rho Acceleration
Deal Type Venture

Target

Passport Labs

Charlotte, North Carolina, United States
Passport Labs is a mobile technology company providing enterprise software to help parking and transit agencies connect with their communities. Passport’s mobility platform enables clients to digitally coordinate all modes of transportation and implement real-time, data-centric management of their curbside and streetspace through its enterprise software. Passport Labs was founded in 2010 and is based in Charlotte, North Carolina.

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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 256 of 369
Sector (Internet Software and Services) 6 of 12
Type (Venture) 7 of 10
State (North Carolina) 4 of 7
Country (United States) 171 of 245
Year (2019) 18 of 18
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-16 ScufGaming

Norcross, Georgia, United States

ScufGaming is a designer, manufacturer, and e-commerce platform for sales of advanced feature, customized gaming controllers and accessories for use on PlayStation, Xbox and PC. SCUF offers a number of functional and design features custom built to increase hand use and improve gameplay. Built to specification, SCUF controllers cater to professional and enthusiast gamers who are looking for that edge and recognize that one size does not fit all. The primary focus for SCUF controllers are the functional features, which go toward improving your game, allowing you to reduce latency and use more of your hand in a safe and ergonomic way. The SCUF controller has features, which are covered by utility and design patents protecting 3 key areas of a controller: back control functions and handles, trigger control mechanisms and thumbstick control area. SCUF is the official controller partner of major gaming leagues: CWL, MLG, ESL, Gfinity, EGL and UMG.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-01 Smallsteps

Amersfoort, Netherlands

Smallsteps is a provider of childcare services in the Netherlands. The Group offers day care for 0-4 year olds and pre/after school care for 4-12 year olds. The group provides services to 26,000 children through its 251 locations and 2,750 employees. Smallsteps works together with parents, local communities and national partners to ensure excellent childcare services are provided for its customers. Smallsteps was founded in 1975 and is based in Amersfoort, Netherlands.

Sell -
Investor

Rho Acceleration

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1981
Size Middle-Market
Type Sector Focused
DESCRIPTION

Rho Acceleration is a division of Rho Capital Partners, targets buyout and recap investments in mid-market technology companies. Rho target software, digital media, and tech-enabled service companies. Rho was formed in 1981 and is based in New York City.


DEAL STATS #
Overall 3 of 3
Sector (Internet Software and Services) 2 of 2
Type (Venture) 1 of 1
State (North Carolina) 1 of 1
Country (United States) 3 of 3
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-09 Skyword

Boston, Massachusetts, United States

Skyword is a content marketing software and services company whose customers have created and published more than one million original stories as articles, videos, images, infographics, podcasts, and animations on the Skyword Platform. Skyword was established in 2010 and is based in Boston, Massachusetts.

Buy -