H.I.G. Capital Expands Portfolio with Strategic Acquisitions in Tech and Property Services

H.I.G. Capital, the Miami-based global alternative investment firm, has recently completed several high-profile acquisitions, further cementing its position as a significant player in the middle market investment space. With these latest deals, H.I.G. demonstrates its commitment to diversifying its portfolio and capitalizing on growth opportunities across various sectors.

Hibu Acquires RevLocal, Boosting Digital Marketing Capabilities

On August 27, 2024, H.I.G. announced that its portfolio company, Hibu Inc., completed the acquisition of RevLocal, LLC. This strategic move combines two powerhouses in the digital marketing solutions space for small and medium-sized businesses (SMBs) across the United States.

Kevin Jasper, CEO of Hibu, emphasized the deal's significance, stating, "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."

The acquisition is expected to strengthen Hibu's market position, enhancing its ability to serve over 70,000 SMBs with an integrated, all-in-one digital marketing solution.

Expansion into the UK Property Maintenance Market

In a separate transaction announced on August 13, 2024, H.I.G. acquired Axis Europe Limited, a leading UK provider of property maintenance services. This acquisition will be combined with H.I.G.'s existing portfolio company, CLC Group, to create a national property maintenance specialist in the UK.

John Hayes, Founder, and CEO of Axis, who will reinvest alongside H.I.G. and join the board as a non-executive director, commented on the merger: "We are delighted to join forces with CLC to create a national contractor of scale with great geographical and operational synergies."

Growing Presence in Property Services

These recent acquisitions follow H.I.G.'s earlier investment in Ascension Property Services (APS), announced on July 25, 2024. APS is a leading property services firm based in Tennessee that provides mechanical, electrical, plumbing, and other services to the commercial and industrial property sector.

Jon Contos, Managing Director at H.I.G. Capital, expressed enthusiasm about the partnership with APS, stating, "We see tremendous opportunity to further expand our service offerings and leverage our resources and infrastructure to target attractive new geographies."

H.I.G. Capital's Growing Influence

With these acquisitions, H.I.G. Capital continues to expand its already impressive portfolio. The firm currently manages $65 billion in capital and has invested in and managed more than 400 companies worldwide since its founding in 1993.

Matt Gullen, Managing Director at H.I.G., summarized the firm's strategy: "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 continues its strategic expansion, and industry observers will be watching closely to see how these new additions to its portfolio perform and what future acquisitions may be on the horizon for this dynamic investment firm.