H.I.G. Capital News
H.I.G. European Capital Partners LLP
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H.I.G. Europe Exits Investment in Europa Support Services with Sale to Bilfinger SE
LONDON – December 16, 2013 – H.I.G. Europe today announced the sale of Europa Support Services (Europa) to Bilfinger SE (Bilfinger). H.I.G. Europe is the European arm of global private-equity company H.I.G. Capital.
Europa Support Services is one of the leading providers of technical, infrastructural and integrated facility management services in the United Kingdom and the Republic of Ireland. H.I.G. invested in the company in 2008 in what was then its first investment in the UK market from its maiden dedicated European equity fund. Since then, the company has completed four bolt-on acquisitions and delivered strong organic growth, with revenues increasing during the period more than fivefold to over £160m today. Europa employs around 3,300 people, has an extensive “blue chip” client base and delivers full nationwide coverage into the UK market.
“Despite the economic downturn, Europa has continued to deliver strong growth, executed strategic acquisitions well and delivered high quality earnings. We were delighted to partner with the Europa management team and we wish them all the best for the future.” commented Paul Canning, Managing Director of H.I.G. Europe.
H.I.G. Europe’s team is based in four offices in London, Paris, Hamburg and Madrid, and consists of over 50 investment professionals with significant operating and turnaround experience. It has completed 28 European investments since 2008. It successfully closed its second dedicated European equity fund at €825m earlier this year. The new fund will continue the successful strategy of investing in privately-held companies and non-core subsidiaries of larger companies, especially those which present significant opportunities for earnings improvement and value creation.
Europa Support Services is one of the leading providers of technical, infrastructural and integrated facility management services in the United Kingdom and the Republic of Ireland. The company employs about 3,300 people. As a result of its broad positioning as a fully-integrated service provider, Europa Support Services has a strong competitive position in its markets. Europa Support Services delivers a substantial share of its services with its own, qualified personnel. On this basis, longstanding customer relationships have been established with renowned companies such as United Utilities, intu (formerly Capital Shopping Centres), Liverpool Victoria and Esso. www.europa-services.co.uk/
About H.I.G. Capital
H.I.G. is a leading global private equity investment firm with more than €10 billion of equity capital under management. Based in Miami, and with offices in Atlanta, Boston, Chicago, Dallas, New York and San Francisco in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Paris and Rio de Janeiro, 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. Since its founding in 1993, H.I.G. has invested in and managed more than 200 companies worldwide. The firm's current portfolio includes more than 80 companies with combined sales in excess of €22 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.