H.I.G. Capital, a global leader in alternative investments, has made significant strides in 2024 with a series of strategic acquisitions. These moves are part of the firm’s ongoing efforts to diversify its portfolio and leverage growth opportunities in various sectors.
In a notable transaction, H.I.G. Capital announced on August 27, 2024, that its portfolio company, Hibu Inc., had acquired RevLocal, LLC. This acquisition marries two influential players in the digital marketing services sector. Kevin Jasper, CEO of Hibu, highlighted the importance of the deal, stating that it would broaden their reach to local businesses by offering a unified platform for core digital marketing services. This merger is poised to enhance Hibu’s market presence, enabling the company to serve over 70,000 small and medium-sized businesses (SMBs) with an integrated approach.
H.I.G. Capital also expanded its footprint in the property services sector with the acquisition of Axis Europe Limited on August 13, 2024. This UK-based property maintenance service provider will merge with H.I.G.’s existing portfolio company, CLC Group, to form a national leader in the industry. John Hayes, the founder of Axis, expressed his excitement about the merger, emphasizing the geographical and operational synergies that will arise from this collaboration.
Further bolstering its property services division, H.I.G. Capital acquired Ascension Property Services (APS) in July 2024. APS, based in Tennessee, specializes in mechanical, electrical, and plumbing services for commercial and industrial properties. Jon Contos, Managing Director at H.I.G. Capital, sees significant potential in this partnership, citing opportunities to expand service offerings and explore new markets.
H.I.G. Capital’s aggressive acquisition strategy reflects its commitment to growth and diversification. With over $65 billion in capital under management, the firm has invested in more than 400 companies worldwide since its inception in 1993. Matt Gullen, another Managing Director at H.I.G. Capital, reiterated the firm’s strategy of empowering businesses with top-tier solutions across various sectors.
As H.I.G. Capital continues to grow its portfolio, industry observers are keen to see how these acquisitions will enhance the firm’s market position and drive future success.