HIG Capital, the global alternative investment firm based in Miami, has made significant strides in 2024 through strategic acquisitions, reinforcing its position in the middle market investment arena.
Digital Marketing Strengthened Through RevLocal Acquisition
On August 27, 2024, HIG Capital announced that its portfolio company, Hibu Inc., had successfully acquired RevLocal, LLC. This acquisition merges two key players in the digital marketing sector, particularly targeting small and medium-sized businesses (SMBs) across the U.S. Kevin Jasper, CEO of Hibu, highlighted the deal’s importance, noting that it would expand their reach and enhance service offerings to over 70,000 SMBs nationwide.
Expansion in the UK Property Maintenance Sector
Earlier in the month, on August 13, HIG Capital acquired Axis Europe Limited, a prominent UK property maintenance provider. This acquisition will be integrated with HIG’s existing portfolio company, CLC Group. John Hayes, Founder and CEO of Axis, expressed enthusiasm for the merger, which he believes will create a national property maintenance specialist with substantial geographical and operational synergies.
Strengthening U.S. Property Services
Adding to its portfolio, HIG Capital invested in Ascension Property Services (APS) on July 25, 2024. APS, based in Tennessee, specializes in mechanical, electrical, and plumbing services for the commercial and industrial property sectors. Jon Contos, Managing Director at HIG Capital, emphasized the growth potential, stating that this partnership opens new geographic and service expansion opportunities.
A Diverse and Growing Portfolio
These acquisitions are part of HIG Capital’s broader strategy to diversify and strengthen its portfolio across various sectors. The firm currently manages $65 billion in capital and has invested in over 400 companies since its inception in 1993. Matt Gullen, another Managing Director at HIG Capital, described these moves as transformative, underlining the firm’s commitment to delivering top-tier solutions across multiple industries.
HIG Capital’s proactive approach continues to make waves in the investment world, with its recent acquisitions setting the stage for further growth and success in the coming years. Industry stakeholders are keeping a close watch on how these strategic moves will unfold and contribute to HIG Capital’s long-term objectives.