H.I.G. Capital News
H.I.G. Capital, LLC
Rick Rosen, CFA
H.I.G. Capital, LLC
H.I.G. Capital Acquires Spectrum Contact Services
June 16, 2003 - H.I.G. Capital LLC, a Miami-based private equity firm with over $1 billion of equity capital under management, has acquired Spectrum Contact Services, a leading provider of outsourced technical support and customer service. Spectrum Contact Services operated as a division of Software Spectrum, a subsidiary of Level 3 Communications, Inc.
In conjunction with the transaction, Spectrum Contact Services has changed its name to ECE, representing the company’s commitment to delivering an exceptional customer experience. With more than 1,400 employees and revenues of approximately $100 million, ECE is one of the leading providers of technical support and customer service outsourcing to high-technology companies. ECE provides services to some of the world’s leading PC software publishers, Internet service providers, and original equipment manufacturers.
H.I.G. will partner with ECE to aggressively grow the business through organic growth, new business initiatives and acquisitions. “H.I.G. is excited about working with the ECE management team to grow the breadth and reach of the services they provide,” said John Bolduc of H.I.G. Capital. “The company has a strong business model, a superb operations team, scalable processes and is very well respected by its client base.” H.I.G.’s investment provides the opportunity for investment capital for expansion, and continued commitment to the company’s existing operational processes and management system.
“Not only does the H.I.G. investment provide a level of independence for ECE,” said Toni Portmann, President of ECE, “but it also provides us with the ability to grow our business globally and further expand our ability to deliver exceptional service to existing and new clients. Businesses today require expert customer service and expect operational excellence. ECE will continue to provide these capabilities and deliver on the promise of outsourcing: saving money and improving customer service.”
ECE is a global technical support and customer service outsourcing provider. The company's award-winning systems and processes provide effective contact center solutions that help clients achieve business efficiencies and provide an exceptional service experience to its customers. For more information, please visit www.ece.com.
H.I.G. Capital is a leading private equity and venture capital investment firm with more than $1.5 billion of equity capital under management. Based in Miami, Florida, 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 well-established, profitable, and well-managed manufacturing or service businesses, and in promising early-stage technology companies. Since its founding, H.I.G. has made more than fifty highly successful investments, acquiring companies with combined revenues in excess of $5 billion.