H.I.G. Capital, a prominent global alternative investment firm, has recently made significant strides in diversifying and strengthening its investment portfolio through a series of strategic acquisitions. These moves underscore H.I.G. Capital’s commitment to enhancing its influence across various sectors, particularly in digital marketing and property services.
On August 27, 2024, H.I.G. Capital announced that its portfolio company, Hibu Inc., had completed the acquisition of RevLocal, LLC. RevLocal specializes in providing digital marketing solutions to small and medium-sized businesses (SMBs) across the United States. The fusion of Hibu and RevLocal aims to create a powerhouse entity capable of delivering comprehensive digital marketing services to over 70,000 SMBs nationwide. Kevin Jasper, CEO of Hibu, remarked, “Combining these two great companies will further expand our reach to local businesses that will benefit from working with a single provider that integrates and optimizes core digital marketing services on one platform.”
Earlier in August, H.I.G. Capital made another significant move by acquiring Axis Europe Limited, a leading property maintenance services provider in the UK. This acquisition is set to merge with H.I.G.’s existing portfolio company, CLC Group, thereby creating a national property maintenance specialist. John Hayes, Founder, and CEO of Axis, who will be joining the board as a non-executive director, expressed his enthusiasm about the merger, stating, “We are delighted to join forces with CLC to create a national contractor of scale with great geographical and operational synergies.”
In addition to these acquisitions, H.I.G. Capital also invested in Ascension Property Services (APS) in late July 2024. APS, based in Tennessee, offers mechanical, electrical, plumbing, and various other services to the commercial and industrial property sectors. Jon Contos, Managing Director at H.I.G. Capital, emphasized the potential for growth, saying, “We see tremendous opportunity to further expand our service offerings and leverage our resources and infrastructure to target attractive new geographies.”
With over $65 billion in capital under management, H.I.G. Capital continues to be a formidable force in the middle market investment arena. The firm has invested in and managed over 400 companies globally since its inception in 1993. Matt Gullen, Managing Director at H.I.G. Capital, noted, “These acquisitions mark transformative steps forward in our growth strategy, reinforcing our commitment to empowering businesses with best-in-class solutions across various sectors.”
As H.I.G. Capital forges ahead with its strategic expansion, the firm’s evolving portfolio will be closely watched by industry stakeholders.