M&A Deal Summary

Halifax Group, H.I.G. Private Equity and Two Sigma Impact Acquire Milestone Technologies

On December 13, 2022, private equity firms Halifax Group, H.I.G. Private Equity and Two Sigma Impact acquired information technology company Milestone Technologies from H.I.G. Private Equity

Acquisition Highlights
  • This is Halifax Group’s 2nd, H.I.G. Private Equity’s 24th and Two Sigma Impact’s 1st transaction in the Information Technology sector.
  • This is Halifax Group’s 37th, H.I.G. Private Equity’s 220th and Two Sigma Impact’s 7th transaction in the United States.
  • This is Halifax Group’s 3rd, H.I.G. Private Equity’s 27th and Two Sigma Impact’s 1st transaction in California.

M&A Deal Summary

Date 2022-12-13
Target Milestone Technologies
Sector Information Technology
Buyer(s) Halifax Group
H.I.G. Private Equity
Two Sigma Impact
Sellers(s) H.I.G. Private Equity
Deal Type Secondary Buyout

Target

Milestone Technologies

Fremont, California, United States
Milestone Technologies is a provider of solutions to the strategic IT needs of large global corporations. Milestone’s solutions include managed help desk, data center operations, managed contact center, platform engineering services and IT logistics. Milestone Technoloies was founded in 1997 and is based in Fremont, California.

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Buyer(S) 3

Buyer

Halifax Group

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 1.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

The Halifax Group is a private equity firm focused on investing in established, profitable, and growing companies. The Firm prefers completing transactions in partnership with management and typically looks to invest $40 to $80 million per acquisition. Prospective companies generally have revenues of at least $20 million and EBITDA greater than $8 million. Sectors of interest include business services, healthcare services, infrastructure services, and 'wellness' products and services. Halifax prefers opportunities located in North America. The Halifax Group was formed in 1999 and is based in Washington, DC, with additional offices in Dallas, Texas and Raleigh, North Carolina.


DEAL STATS #
Overall 41 of 45
Sector: Information Technology M&A 2 of 2
Type: Secondary Buyout M&A Deals 15 of 16
State: California M&A 3 of 4
Country: United States M&A 37 of 41
Year: 2022 M&A 4 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-23 Liberty Group

Houston, Texas, United States

Liberty Group provides temporary staffing, executive search, and employee screening services to clients in the multifamily residential real estate industry. Liberty Group was founded in 1977 and is based in Houston, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-31 Harmar

Sarasota, Florida, United States

Harmar is a designer, manufacturer, and marketer of mobility and accessibility solutions for individuals who use power wheelchairs/scooters or are otherwise mobility impaired. Harmar was founded in 1998 and is based in Sarasota, Florida.

Buy -
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. The Firm focuses on management buyouts, growth equity investments, and recapitalizations of mid-sized to large companies valued between $50 million and $1 billion. HIG will also consider 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 is based in Miami, Florida.


DEAL STATS #
Overall 331 of 383
Sector: Information Technology M&A 24 of 28
Type: Secondary Buyout M&A Deals 55 of 72
State: California M&A 27 of 30
Country: United States M&A 220 of 249
Year: 2022 M&A 24 of 24
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-15 Onis Visa

Fontanelle, Italy

Onis Visa specializing in the design and manufacturing of cutting-edge generating sets and power stations. Our extensive global presence spans over 100 countries, making us a trusted provider of high-quality and technologically advanced solutions across diverse industries. Onis Visa was founded in 1960 and is based in Fontanelle, Italy.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-20 Buck

New York, New York, United States

Buck is an integrated HR consulting, benefits administration, and technology services provider. It is focused on helping its clients realize the best organizational performance for their business while driving positive health, wealth, and career outcomes for their employees. Buck is based in New York City.

Sell $660M
DESCRIPTION

Two Sigma is a private investment group focused on opportunities in education & training, healthcare, consumer services, and business services. The Firm prefers growth businesses and will consider opportunities throughout the US. Two Sigma is headquartered in New York City.


DEAL STATS #
Overall 7 of 7
Sector: Information Technology M&A 1 of 1
Type: Secondary Buyout M&A Deals 5 of 5
State: California M&A 1 of 1
Country: United States M&A 7 of 7
Year: 2022 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-21 Community Medical Services

Scottsdale, Arizona, United States

Community Medical Services is a provider of medication-assisted treatment (“MAT”) programs for patients suffering from substance use disorders. It also provides behavioral therapy and other patient⁠-⁠centric services including drug screening, women’s support services, case management, coordination of care, employment coaching, hepatitis C testing/diagnosis, and HIV testing/diagnosis. Community Medical Services was founded in 1983 and is based in Scottsdale, Arizona.

Buy -

Seller(S) 1

SELLER

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. The Firm focuses on management buyouts, growth equity investments, and recapitalizations of mid-sized to large companies valued between $50 million and $1 billion. HIG will also consider 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 is based in Miami, Florida.


DEAL STATS #
Overall 152 of 180
Sector: Information Technology M&A 11 of 15
Type: Secondary Buyout M&A Deals 60 of 74
State: California M&A 12 of 14
Country: United States M&A 109 of 123
Year: 2022 M&A 9 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-15 Onis Visa

Fontanelle, Italy

Onis Visa specializing in the design and manufacturing of cutting-edge generating sets and power stations. Our extensive global presence spans over 100 countries, making us a trusted provider of high-quality and technologically advanced solutions across diverse industries. Onis Visa was founded in 1960 and is based in Fontanelle, Italy.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-20 Buck

New York, New York, United States

Buck is an integrated HR consulting, benefits administration, and technology services provider. It is focused on helping its clients realize the best organizational performance for their business while driving positive health, wealth, and career outcomes for their employees. Buck is based in New York City.

Sell $660M