H.I.G. Capital Completes Investment in Advanced Communications Technologies, Inc.



    MIAMI, October 2 /CNW/ - H.I.G. Capital, a leading global private equity
firm, announced today that it completed an investment in Advanced
Communications Technologies, Inc. (OTCBB:ADVC), a New York-based company that
specializes in the consumer electronic aftermarket service and supply chain,
known as reverse logistics. Concurrent with the investment, Advanced
Communications Technology completed its acquisition of privately held Vance
Baldwin Electronics, an Original Equipment Manufacturer parts distributor that
has been a leader in the industry for over fifty years. Vance Baldwin has
operations in southern Florida and suburban Atlanta and distributes parts
ranging from consumer electronics, computers, printers and office supplies. In
addition, Vance Baldwin provides service aids and industrial products such as
cable, tools, test equipment, cleaners and other installation equipment. On a
pro-forma basis, Vance Baldwin and Advanced Communications generated
approximately $60 million in revenue during the last twelve months.

    Wayne Danson, Advanced Communications' president and chief executive
officer, commented, "We are very excited about this transaction as it has been
a long-time in the making. Purchasing Vance Baldwin and having a long term
partner in H.I.G. Capital represents a significant and positive move forward
in the Company's operational and financial transformation. With the
acquisition of the second largest parts distribution enterprise in the
consumer electronics market, the Company will now be expanding beyond its core
repair business. We believe this is a major step forward in executing our
strategy to be a vertically integrated full service provider in the reverse
logistics segment of the consumer electronics industry."

    "I have seen the industry change over the past several decades and
believe that this strategic combination is right for both companies," said
Fred Baldwin, chief executive officer of Vance Baldwin. "I am pleased to be a
part of the Advanced Communications group." Robert Coolidge, Vance Baldwin's
President, said, "I am looking forward to the new opportunities that this
transaction affords to what has been a family owned business for over 50
years."

    William Nolan, of H.I.G. Capital, commented, "We are very pleased to have
had the opportunity to partner with Wayne, Fred and Robert as they embark on
their growth strategy in the reverse logistics industry. We believe the
consumer electronics industry is eager for a national solution that can
provide parts logistics and repair to retailers, manufacturers and third-party
administrators. We look forward to working with the Company to help them build
out their national offerings."

    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, Boston John R. Black,
Managing Director, 617-262-8455 jblack@higcapital.com or William J. Nolan,
617-262-8455 wnolan@higcapital.com

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H.I.G. CAPITAL, LLC

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