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Globe and Mail
a day ago
- Business
- Globe and Mail
H.I.G. Capital Completes Acquisition of ITH Group Limited
LONDON , /CNW/ -- H.I.G. Capital ("H.I.G."), a leading global alternative investment firm with $70 billion of capital under management, is pleased to announce that one of its affiliates has completed the acquisition of ITH Group Limited ("ITH" or the "Company"), a leading UK provider of aseptic pharmaceutical compounding services, in partnership with its founders Adam Bloom and Karen Hamling . The financial terms of the transaction have not been disclosed. ITH prepares bespoke, injectable medication for patients with specialized medical needs, specifically needs that existing alternative treatments cannot meet. Within the compounding services industry, the Company holds market-leading positions in chemotherapy, total parenteral nutrition, and central intravenous additive services, providing high-quality, patient-appropriate medications for both adults and neonates. The Company also operates a leading digital pharmacy that provides critical, licensed medication to private and NHS patients. In partnership with ITH's management team, H.I.G. aims to continue the Company's strong track record of organic growth and support new initiatives, including increasing the Company's production capacity. ITH's existing management team will remain in place, with Adam Bloom and Karen Hamling continuing as CEO and COO, respectively. Adam Bloom , CEO of ITH Group, commented: "I'm delighted to welcome H.I.G. as a key investor in the ITH Group. Since our founding in 2008, ITH has consistently grown by investing in our people and enhancing the services we provide to patients. Today, we are proud to be a leading provider of compounding services in the UK, supporting both the NHS and private healthcare sectors. As we look ahead, we remain dedicated to expanding our service offerings, advancing our expertise in the supply of critical compounded medicines, and further developing our pharmacy services." John Harper , Managing Director and Head of the H.I.G. Europe Lower Middle Market LBO team in London , said, "We are delighted to be supporting Adam, Karen, and their team to further build upon ITH's success. The Company's track record of reliably providing compounded pharmaceuticals to NHS and private customers in an inherently undersupplied market, combined with H.I.G.'s history of supporting capacity expansion in its portfolio companies, underpins an exciting next chapter for ITH." Gordon Cameron , non-executive Chairman of ITH, said: "Adam and Karen have built a highly impressive business providing a critical service to the UK health sector. The business has built a market-leading reputation for reliability through its unwavering focus on high-quality customer service. I am excited to join the business as part of H.I.G.'s investment to help deliver the next chapter of growth." About ITH ITH was founded in 2008. With facilities in London, UK , ITH specialises in the provision of aseptic compounding services for NHS and private customers, with a particular focus on chemotherapy, total parenteral nutrition, and central intravenous additive services. For more information, visit About H.I.G. Capital H.I.G. is a leading global alternative investment firm with $70 billion of capital under management.* Based in Miami , and with offices in Atlanta , Boston , Chicago , Los Angeles , New York , San Francisco , and Stamford in the United States , as well as international affiliate offices in Hamburg , London , Luxembourg , Madrid , Milan , Paris , Bogotá, Rio de Janeiro , São Paulo, Dubai , and Hong Kong, 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 *Based on total capital raised by H.I.G. Capital and its affiliates. Contact: John Harper Managing Director jharper@ H.I.G. Capital 10 Grosvenor Street 2 nd Floor London W1K 4QB United Kingdom P: +44 (0) 207 318 5700
Globe and Mail
02-06-2025
- Business
- Globe and Mail
H.I.G. Capital Expands Its European Middle Market Private Equity Team with the Addition of Antonin Marcus
PARIS , June 2, 2025 /CNW/ -- H.I.G. Capital ("H.I.G." or the "Firm"), a leading global alternative investment firm with $70 billion of capital under management, is pleased to announce today that Antonin Marcus has joined the Firm as a Managing Director on H.I.G.'s Middle Market Private Equity team in France . Based in Paris , Antonin is a proven private equity investor with over 15 years of experience in private equity and finance, covering several sectors and investment strategies. Prior to joining H.I.G., he spent eight years with Eurazeo. Before that, Antonin worked for H.I.G. in Paris , and he began his career with Goldman Sachs in London . Olivier Boyadjian , Managing Director and Head of H.I.G. Paris office, commented: "Antonin is a highly regarded private equity investor. We are excited to have him rejoin H.I.G. as a Managing Director in charge of our Middle Market LBO activities in France ." Markus Noe-Nordberg , Managing Director and Head of the H.I.G. European Middle Market LBO team, said: "We are delighted to welcome Antonin to our team. His deep experience and extensive network will be instrumental to our continued success in France ." In commenting on his new role, Antonin Marcus added: "I am thrilled to be back with the H.I.G. team and build upon the success in Europe . Through H.I.G.'s Middle Market LBO strategy, we will further complement the Firm's breadth of capabilities in France with an additional focus on larger transactions." About H.I.G. Capital H.I.G. is a leading global alternative investment firm with $70 billion of capital under management.* Based in Miami , and with offices in Atlanta , Boston , Chicago , Los Angeles , New York , San Francisco and Stamford 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 , and Hong Kong, H.I.G. specializes in providing both debt and equity capital to 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 $53 billion . For more information, please refer to the H.I.G. website at *Based on total capital raised by H.I.G. Capital and its affiliates. Contact: Olivier Boyadjian Head of H.I.G. Paris office oboyadjian@ Markus Noe-Nordberg Managing Director mnordberg@ H.I.G. European Capital S.A.S. 2, Rue Lord Byron 5 th Floor 75008 Paris France P: +33 (0) 1 53 57 50 60 SOURCE H.I.G. Capital
Reuters
28-05-2025
- Business
- Reuters
UK's Rentokil to sell French workwear business in $464 million deal
May 28 (Reuters) - British pest control company Rentokil Initial (RTO.L), opens new tab said on Wednesday it would sell its workwear, flat linen and clean room business in France to H.I.G. Capital in a deal that values the business at about 410 million euros ($463.8 million). The sale positions the company "more clearly as a streamlined pest and hygiene & wellbeing business", it said in a statement. Rentokil's $6.7 billion acquisition of Terminix in 2021 made it the largest player in the U.S. pest control market. Rentokil said it expects net cash proceeds of about 370 million euros from the sale, which it will use to pay down debt and invest in bolt-on mergers and acquisitions. The French workwear business made up about 6% of the company's total revenue last year. ($1 = 0.8840 euros)
Yahoo
18-04-2025
- Business
- Yahoo
Chillicothe paper mill will remain open through 2025
CHILLICOTHE, Ohio (WCMH) — A Chillicothe paper mill that was set to shutdown and leave 800 people without jobs will remain open through the end of the year. One day after Sen. Bernie Moreno (R-OH) sent a scathing letter to the CEOs of Pixelle Specialty Solutions, a subsidiary of HIG Capital, he announced Friday that HIG capital agreed to pause the closure and keep the paper mill open until the end of 2025 after speaking with executives. Attorney says policies restricting LifeWise, like those in Columbus schools, could violate First Amendment 'I look forward to working with them to find a solution that guarantees the well-being of Ohio workers,' Moreno wrote in a post on X that included the announcement of the closure's pause. Paper mills have been a part of Chillicothe since at least the 19th century. The company said the mill was going to shut down in phases over the coming weeks. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Globe and Mail
08-04-2025
- Business
- Globe and Mail
Wall Street Banks Delay Loans amid Market Turmoil
Banks on Wall Street are delaying high-risk financing deals as investors grow more nervous amid the market turmoil caused by President Trump's new tariffs. In the past few days, two major leveraged loan deals were delayed: one was tied to HIG Capital's purchase of Converge Technology Solutions (TSE:CTS), and another was for a dividend payout to ITG Communications' owner, Oaktree Capital. Both deals were supposed to close last week, but investor interest dried up. However, these are not the only deals on hold, as six others had already been pulled earlier this year due to similar concerns. Don't Miss Our End of Quarter Offers: Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks. Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter. Leveraged loan prices dropped sharply, with the biggest two-day decline in five years, according to Morningstar's LSTA index. The average loan is now priced at 95 cents on the dollar, the lowest since November 2023. Banks usually sell the loans they agree to provide before a deal closes, but with debt markets freezing up, they risk being stuck with the debt themselves, which is called 'hung debt.' This might happen with ABC Technologies' $900 million loan and $1.3 billion bond deal for its planned buyout of TI Fluid Systems (LSE:TIFS), which hasn't attracted enough investors. A separate $2.35 billion loan-and-bond package for the acquisition of Patterson Companies (PDCO) is also facing headwinds. And it is not just buyouts that are being affected. Indeed, the broader credit market is also feeling the pressure from Trump's tariff plans, which have raised fears of a recession and pushed investors away from risky assets. For example, CEC Entertainment — the parent company of Chuck E. Cheese — has had trouble refinancing $660 million in junk debt. Another big refinancing plan that was worth more than $5 billion from Finastra Group Holdings also collapsed. Which Bank Stock Is the Better Buy? Turning to Wall Street, out of the bank stocks pictured below, analysts think that Citigroup stock (C) has the most room to run. In fact, Citigroup's average price target of $88.28 per share implies 50% upside potential. On the other hand, analysts expect the least from BK stock, as its average price target of $93.69 equates to a gain of 26.5%. See more Citigroup analyst ratings
