H.I.G. Capital, a prominent global alternative investment firm, has recently made headlines with several strategic acquisitions in the tech and property services sectors. These moves highlight H.I.G. Capital’s ongoing commitment to diversifying its investment portfolio and expanding its market reach.
On August 27, 2024, H.I.G. Capital announced that its portfolio company, Hibu Inc., acquired RevLocal, LLC. This acquisition strengthens Hibu’s position in the digital marketing arena, particularly for small and medium-sized businesses (SMBs) across the United States. The merger is expected to provide an integrated, all-in-one digital marketing solution to over 70,000 SMBs, enhancing both reach and efficiency.
Kevin Jasper, CEO of Hibu, underscored the significance of this deal. According to Jasper, the combination of Hibu and RevLocal will streamline digital marketing services, offering a comprehensive platform for local businesses to optimize their online presence.
In another significant transaction, H.I.G. Capital expanded its footprint in the UK property maintenance market by acquiring Axis Europe Limited on August 13, 2024. Axis Europe, a leading provider of property maintenance services, will be merged with H.I.G.’s existing portfolio company, CLC Group. This merger aims to create a national property maintenance specialist with enhanced operational and geographical capabilities.
John Hayes, Founder and CEO of Axis, who will join the board as a non-executive director, expressed his enthusiasm for the merger. Hayes believes that the combined strengths of Axis and CLC will lead to improved services and a stronger market position.
In July, H.I.G. Capital also invested in Ascension Property Services (APS), a Tennessee-based firm specializing in mechanical, electrical, and plumbing services for commercial and industrial properties. Jon Contos, Managing Director at H.I.G. Capital, highlighted the growth opportunities this partnership presents, particularly in expanding service offerings to new geographies.
H.I.G. Capital’s strategy of acquiring companies with strong market positions and growth potential continues to bolster its impressive portfolio. Managing over $65 billion in capital and with investments in more than 400 companies worldwide, H.I.G. Capital remains a formidable force in the middle market investment space.
As the firm continues to pursue strategic acquisitions, industry observers are keen to see how these new additions will perform in their respective markets.