MIAMI, November 30 /CNW/ - H.I.G. Capital, a leading global private
equity firm, announced today that it has completed the sale of Gould & Lamb,
LLC ("G&L") to ABRY Partners ("ABRY"), a private equity firm based in Boston,
MA. Terms of the transaction were not disclosed.
G&L, headquartered in Bradenton, Florida, is a leading insurance services
firm that helps its clients settle complex medical claims and ensure proper
regulatory compliance. Serving 20 of the top 25 Workers' Compensation
insurance carriers, as well as many self-insured employers and third-party
administrators, the Company's products and services include Medicare set-aside
arrangements, life-care plans and medical/legal expert opinions. During the
last 5 years, the company has grown rapidly and is now the largest provider of
these specialized services nationwide.
H.I.G. partnered with the Company's founders and the management team to
help them expand its infrastructure and service offering. Rick Rosen, Managing
Director of H.I.G. remarked, "The Company has made tremendous progress since
our recapitalization. We are very proud of what the team has accomplished in a
short period of time. As a result of G&L's market success and growth, this has
been an outstanding investment for H.I.G. and I am confident that G&L's
success will continue."
John Williams, CEO of G&L, commented, "We thank H.I.G. for their valuable
support in our continued effort to be the leading cost containment player in
insurance services." Mr. Williams will continue in his role as CEO.
About H.I.G. Capital
H.I.G. Capital L.L.C. ("H.I.G.") is a leading global private equity
investment firm with more than $4 billion of equity capital under management.
Based in Miami, and with offices in Atlanta, Boston, and San Francisco in the
U.S., as well as affiliate offices in London, Hamburg and Paris in Europe,
H.I.G. specializes in providing capital to small and medium-sized companies
with attractive growth potential. H.I.G. invests in management-led buyouts and
recapitalizations of profitable and well managed manufacturing or service
businesses. H.I.G. also has extensive experience with financial restructurings
and operational turnarounds. Since its founding, H.I.G. has completed more
than 75 transactions. The firm currently manages a portfolio of more than 50
companies with combined revenues in excess of $7 billion. For more
information, please refer to the H.I.G. website at www.higcapital.com.
For further information:
For further information: H.I.G. Capital, LLC, Miami Rick Rosen, Managing
Director, 305-379-2322 firstname.lastname@example.org or Rob Wolfson, 305-379-2322