MIAMI, March 15 /CNW/ - H.I.G. Capital, a leading Miami-based private
equity firm, announced today the sale of HALO Branded Solutions, Inc. ("HALO")
to Compass Diversified Trust, a private equity firm based in Westport, CT. The
purchase price was $62.5 million.
Founded in 1952 and headquartered in Sterling, Illinois, HALO is one of
the largest domestic distributors of logo-based promotional products in the
country. HALO provides its customers a one-stop resource for the design,
sourcing, management and fulfillment across all categories of its customers'
promotional products needs. Operating under the brand names HALO and Lee
Wayne, HALO services more than 30,000 clients in a wide range of industries.
H.I.G. acquired HALO in May 2003 through a 363 bankruptcy sale process.
Since H.I.G.'s acquisition, the Company has effectuated a successful
acquisition strategy, completing four acquisitions to expand into new
geographies and product lines. The Company has also streamlined its operations
in order to solidify the best-in-class value proposition that it offers to
independent representatives and customers. Since H.I.G.'s acquisition, the
Company's revenues have tripled and profit margins have improved
significantly. These successes culminated in HALO CEO Marc Simon's being named
the promotional products industry "Person of the Year" in 2006.
"During the last four years with H.I.G. as our financial sponsor, we have
created a significant amount of value through growth and operations
improvements to become the leading supplier in our sector. H.I.G. has been a
value-added partner in this process and we appreciate the relationship that we
have had with them," said Marc Simon, CEO of HALO.
"We are lucky to have partnered with such an outstanding management team.
They have done a superb job growing the business and building the undisputed
leading platform in the sector. As a result, the Company has delivered a
fantastic return for H.I.G.'s investors, and we are confident that HALO will
continue to be successful in the future," remarked Doug Berman, Managing
Director of H.I.G. Capital.
About H.I.G. Capital:
H.I.G. Capital LLC ("H.I.G.") is a leading private equity and venture
capital investment firm with more than $3.5 billion of equity capital under
management. Based in Miami, and with offices in Atlanta, Boston, and San
Francisco, 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 of more than $7 billion. For
more information, please visit the H.I.G. website at www.higcapital.com.
For further information:
For further information: H.I.G. Capital Doug Berman, 305-379-2322
Managing Director firstname.lastname@example.org