H.I.G. Capital News
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H.I.G. Capital Recapitalizes Thane International, Inc.
MIAMI - December 20, 2006 - H.I.G. Capital, a Miami-based private equity firm, announced today the recapitalization of its portfolio company, Thane International, Inc. (Thane). Headquartered in Toronto, Canada, Thane is a leading direct marketing company with unparalleled global distribution capabilities and a valuable portfolio of innovative consumer products. The Company’s proprietary multi-channel distribution platform uses direct response television (DRTV) to successfully launch and market products in over 100 countries. As the only company with a truly integrated global DRTV and multi-channel marketing platform, Thane provides a single point of access to lucrative high-growth international markets for third party products as well as its own proprietary products. Thane has also emerged as a global media enterprise through its five Company-owned or controlled 24-hour shopping channels plus control or access to over 100,000 hours per year of additional media time.
Thane has achieved impressive results in sales and earnings the past several years and will use the proceeds from the recapitalization to increase current management’s ownership interest and provide shareholders with a significant cash distribution. H.I.G. will continue to own a majority of the business.
"H.I.G. has provided us the support to achieve our vision of creating a truly unique and value-added international distribution platform," said Amir Tukulj, Thane’s Chief Executive Officer. "We have expanded Thane beyond its initial U.S.-based business by growing our international business to over $130 Million in sales, without any significant acquisitions."
"We are excited to continue to partner with an outstanding management team that has created the leading company in the industry, with current total Company sales of nearly $200 Million," said Arthur Heller, Principal with H.I.G. Capital. "We look forward to supporting management’s future growth plans and see tremendous opportunity to expand both organically as well as through select strategic acquisitions."
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 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 40 companies with combined revenues in excess of $5 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.