In a series of high-profile moves, H.I.G. Capital has significantly expanded its portfolio, showcasing its commitment to growth and diversification in various sectors. The Miami-based investment firm, renowned for its strategic acquisitions, recently made headlines with several noteworthy deals.
H.I.G. Capital’s portfolio company, Hibu Inc., acquired RevLocal, LLC on August 27, 2024. This merger brings together two giants in the digital marketing landscape, enhancing their ability to offer comprehensive solutions to small and medium-sized businesses (SMBs) across the United States. Kevin Jasper, CEO of Hibu, remarked, “The synergy between Hibu and RevLocal will provide unparalleled value to our clients, integrating core digital marketing services into a single, optimized platform.”
But H.I.G. Capital’s ambitions don’t stop at digital marketing. On August 13, 2024, the firm bolstered its presence in the UK property maintenance sector by acquiring Axis Europe Limited. This acquisition will merge with H.I.G.’s existing company, CLC Group, creating a national powerhouse in property maintenance services. John Hayes, CEO of Axis, noted the complementary strengths of both companies, stating, “Our combined expertise and resources will position us as a leading national contractor with extensive geographical reach.”
Moreover, H.I.G. Capital has recently invested in Ascension Property Services (APS), a Tennessee-based firm specializing in mechanical, electrical, and plumbing services for commercial and industrial properties. This move aligns with H.I.G.’s strategy to diversify its service offerings and expand into new geographies. Jon Contos, Managing Director at H.I.G. Capital, expressed his excitement, saying, “The partnership with APS opens up significant opportunities for growth and expansion in the property services market.”
These strategic acquisitions reflect H.I.G. Capital’s robust approach to market expansion. With $65 billion in capital under management, the firm has successfully invested in more than 400 companies worldwide since its inception in 1993. Matt Gullen, another Managing Director at H.I.G. Capital, summarized the firm’s vision: “Our recent acquisitions demonstrate our unwavering commitment to supporting businesses with innovative solutions and driving growth across diverse sectors.”
As H.I.G. Capital continues to expand its influence and portfolio, the industry will be keenly observing the performance of these new acquisitions and anticipating future moves from this dynamic investment firm.