H.I.G. Capital, a Miami-based private equity and alternative assets investment firm, continues to solidify its market presence through a series of strategic acquisitions. Known for its keen investment strategies, H.I.G. Capital’s recent ventures highlight its dedication to expanding its influence across diverse sectors.
Digital Marketing Expansion
On August 27, 2024, H.I.G. Capital announced that its portfolio company, Hibu Inc., had acquired RevLocal, LLC. This acquisition is set to enhance Hibu’s capabilities in providing comprehensive digital marketing solutions to small and medium-sized businesses (SMBs) in the United States. The integration of Hibu and RevLocal aims to deliver a unified platform that optimizes core digital marketing services, benefiting over 70,000 SMBs nationwide.
Kevin Jasper, CEO of Hibu, remarked on the significance of the deal. “Combining these two outstanding companies will enable us to reach more local businesses with a single, optimized digital marketing platform,” Jasper said. This move underscores H.I.G. Capital’s commitment to bolstering its digital marketing portfolio and supporting SMBs in their growth journeys.
Property Maintenance in the UK
In another strategic move, H.I.G. Capital acquired Axis Europe Limited on August 13, 2024. Axis, a leading provider of property maintenance services in the UK, will be merged with CLC Group, another H.I.G. portfolio company. This merger aims to form a national property maintenance specialist, leveraging geographical and operational synergies to deliver enhanced services across the UK.
John Hayes, Founder and CEO of Axis, expressed his enthusiasm for the merger. “We are thrilled to join forces with CLC to create a national contractor with significant scale and capabilities,” Hayes stated. This acquisition is part of H.I.G. Capital’s broader strategy to expand its footprint in the property services sector.
Growth in Property Services
H.I.G. Capital’s acquisition spree also included the purchase of Ascension Property Services (APS) on July 25, 2024. APS, based in Tennessee, offers mechanical, electrical, and plumbing services to the commercial and industrial property sectors. The acquisition is expected to enhance H.I.G. Capital’s service offerings and facilitate expansion into new geographies.
Jon Contos, Managing Director at H.I.G. Capital, highlighted the potential for growth. “We see incredible opportunities to expand our services and reach new markets with APS,” Contos noted. This acquisition further exemplifies H.I.G. Capital’s strategic approach to diversifying its portfolio.
A Growing Influence
With these acquisitions, H.I.G. Capital continues to demonstrate its prowess in identifying and capitalizing on lucrative investment opportunities. Managing over $65 billion in capital and with a history of investing in more than 400 companies globally, H.I.G. Capital remains a formidable force in the investment landscape.
These strategic moves reflect H.I.G. Capital’s ongoing efforts to enhance its market position and deliver value across various sectors. As the firm continues its expansion, industry watchers are keen to see what future initiatives H.I.G. Capital will undertake.