H.I.G. Capital LLC
H.I.G. Capital LLC
13/08/2024 | Press release | Distributed by Public on 13/08/2024 17:18
H.I.G. Capital Completes Investment in Axis Europe Limited
H.I.G. Capital Completes Investment in Axis Europe Limited
LONDON - August 13, 2024 - H.I.G. Capital ("H.I.G."), a leading global alternative investment firm with $64 billion of capital under management, is pleased to announce that one of its affiliates has acquired Axis Europe Limited ("Axis" or the "Company"), a leading UK provider of property maintenance services, from its founder and owner, John Hayes. John Hayes will reinvest alongside H.I.G. and join the board as a non-executive director. The financial terms of the transaction have not been disclosed.
Axis provides planned maintenance, responsive repairs, and refurbishment to clients in social housing and local government. It has developed an exceptionally strong reputation as a trusted, long-term partner to some of the largest local authorities and housing associations in the UK. Axis has delivered significant and consistent organic growth over the past two decades.
H.I.G. will combine Axis with its existing portfolio company, CLC Group ("CLC") which it acquired in June 2023, to bring together two highly complementary businesses to create a leading national property maintenance specialist with deep experience across a range of end-markets and maintenance disciplines.
John Hayes, Founder and CEO of Axis, remarked, "We are delighted to join forces with CLC to create a national contractor of scale with great geographical and operational synergies. The investment in both companies by H.I.G. will allow the group to benefit from the huge opportunities that exist across all sectors and regions."
John Harper, Managing Director of H.I.G. in London, said, "We are excited by this transaction, which is set against the backdrop of a property refurbishment market poised for significant investment in the coming decade."
About Axis
Axis is a provider of property maintenance services to housing associations and local government. The business has focused on building long-term relationships with some of the largest property managers and owners in its sector. For more information, visit axiseurope.com.
About CLC
CLC is a national property and asset refurbishment provider that offers clients national coverage with a local service. The business has focused on delivering high quality property and asset services to customers in the social housing, local government, defence, hospitality, and utilities sectors. For more information, visit clcgroup.com.
About H.I.G. Capital
H.I.G. Capital is a leading global alternative investment firm with $64 billion of capital under management.* Based in Miami, and with offices in Atlanta, Boston, Chicago, Los Angeles, New York, and San Francisco in the United States, as well as international affiliate offices in Hamburg, London, Luxembourg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro, São Paulo, and Dubai, H.I.G. specializes in providing both debt and equity capital to middle market companies, utilizing a flexible and operationally focused/value-added approach:
- H.I.G.'s equity funds invest in management buyouts, recapitalizations, and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
- H.I.G.'s debt funds invest in senior, unitranche and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. also manages a publicly traded BDC, WhiteHorse Finance.
- H.I.G.'s real estate funds invest in value-added properties, which can benefit from improved asset management practices.
- H.I.G. Infrastructure focuses on making value-add and core plus investments in the infrastructure sector.
Since its founding in 1993, H.I.G. has invested in and managed more than 400 companies worldwide. The Firm's current portfolio includes more than 100 companies with combined sales in excess of $53 billion. For more information, please refer to the H.I.G. website at hig.com.