H.I.G. Capital, a Miami-based global investment firm, continues its aggressive expansion strategy with a series of strategic acquisitions that highlight its commitment to diversified growth.
On August 27, 2024, H.I.G. Capital announced that its portfolio company, Hibu Inc., had acquired RevLocal, LLC. This deal unites two major players in the digital marketing solutions sector tailored for small and medium-sized businesses (SMBs) across the United States. Kevin Jasper, CEO of Hibu, remarked that this acquisition would enhance their reach and service capabilities for over 70,000 SMBs. This move is anticipated to solidify Hibu’s standing in the digital marketing arena.
Earlier in the month, on August 13, H.I.G. Capital made another significant acquisition by purchasing Axis Europe Limited, a leading UK provider of property maintenance services. This UK-based company will join forces with CLC Group, another H.I.G. portfolio company, to form a robust national property maintenance entity. John Hayes, CEO of Axis, who will also join the board as a non-executive director, expressed his enthusiasm about the merger and its potential to create operational synergies across the UK.
These acquisitions follow H.I.G. Capital’s investment in Ascension Property Services (APS) on July 25, 2024. APS, headquartered in Tennessee, specializes in mechanical, electrical, and plumbing services for commercial and industrial properties. Jon Contos, Managing Director at H.I.G. Capital, highlighted the potential for significant growth through this investment, aiming to broaden their service offerings and geographic reach.
H.I.G. Capital’s portfolio currently includes over 400 companies worldwide, and the firm manages an impressive $65 billion in capital. These recent strategic acquisitions underscore their ongoing efforts to empower businesses across various sectors. Matt Gullen, Managing Director at H.I.G. Capital, emphasized the importance of these acquisitions in driving the firm’s growth strategy, noting that they align perfectly with their long-term objectives.
As H.I.G. Capital continues to expand its portfolio, industry watchers are keenly observing how these new additions will perform and what future opportunities the investment firm will pursue next.