H.I.G. Capital Acquires CLC Group Limited
LONDON–(BUSINESS WIRE)– H.I.G. Capital, LLC (“H.I.G.”), a leading global alternative investment firm with $56 billion of equity capital under management, is pleased to announce that one of its affiliates has acquired CLC Group Limited (“CLC” or the “Company”), a leading UK provider of property and asset refurbishment, from its owner, the Armitage Family Trust. The Armitage Family Trust and CLC management will reinvest in the Company alongside H.I.G. The financial terms of the transaction have not been disclosed.
CLC provides refurbishment, electrical, and fire protection services to clients in the social housing, local government, defence, hospitality, and utilities end-markets. Operating 15 branches across the UK, the business has developed an exceptionally strong reputation for service delivery and delivered unbroken organic growth for over two decades.
CLC’s existing management team will remain to drive the Company’s future development. Decarbonization efforts, increasing property compliance regulations, and ageing UK housing stock are all beneficial factors for the Company’s ability to broaden and deepen its service offering in the future.
Peter Armitage, Non-Executive Chairman of CLC, remarked, “We are proud of what CLC has achieved to date which has been built on delivering exceptional client service. We are delighted that H.I.G. has come on board to support the Company’s next phase of growth and help CLC take advantage of the growth opportunities in front of it.”
John Harper, Managing Director of H.I.G. in London, said, “The property refurbishment market is set for significant investment in the coming decade. We are excited to partner with CLC’s highly experienced management team to build on their success to date through further service and geographic expansion, as well as add-on acquisitions.”
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 details see www.clcgroup.com.
About H.I.G. Capital
H.I.G. is a leading global private equity and alternative assets investment firm with $56 billion of equity capital under management.* Based in Miami, and with European offices in London, Hamburg, Madrid, Milan, Paris, and U.S. and Latin American offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, Atlanta, Bogotá, Rio de Janeiro, and São Paulo, H.I.G. specializes in providing both debt and equity capital to small and mid-sized 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 $52 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.
* Based on total capital commitments managed by H.I.G. Capital and affiliates.
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Contacts
John Harper
Managing Director
jharper@higcapital.com
Adam Taylor
Principal
ataylor@higcapital.com
P +44 (0) 207 318 5700
F +44 (0) 207 318 5749
www.higcapital.com