H.I.G. Capital News
Kevin Van Culin
One Sansome Street
San Francisco, CA 94104
H.I.G. Sells Majority Interest in Milestone Technologies
SAN FRANCISCO – December 13, 2022 – H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with over $52 billion of equity capital under management, is pleased to announce the sale of a majority interest in its portfolio company Milestone Technologies (“Milestone” or the “Company”) to The Halifax Group (“Halifax”). H.I.G. will maintain a minority stake in the Company post-closing. Terms of the transaction were not disclosed.
Founded in 1997 and based in Fremont, CA, Milestone is a global IT services firm that partners with leading organizations to support their digital transformation strategies and to scale their IT capabilities. Milestone provides best-of-breed solutions across Application Services, including digital product engineering and ServiceNow-oriented services, Digital Workplace Services, and Private Cloud Services. The Company primarily serves its clients through an end-to-end managed services model and maintains flexibility to leverage other delivery models to meet clients’ needs. Milestone’s clients include some of the largest and fastest growing companies in the technology, healthcare, and consumer markets.
H.I.G. acquired Milestone in August 2015. During H.I.G.’s ownership, Milestone expanded from 15 to 36 countries, completed two significant add-on acquisitions, and entered the ServiceNow ecosystem.
Sameer Kishore, Milestone’s President and CEO, said, "H.I.G. has been an outstanding partner, providing valuable operational and financial guidance, and they have played a significant role in our success. Halifax’s investment is a strong endorsement of our highly talented team, and we are very excited for our next phase of growth.”
“Sameer and the Milestone team have done an excellent job executing on strategic initiatives and growing the business,” said Kevin Van Culin, Managing Director at H.I.G. Capital. “We are extremely proud to have supported Milestone’s growth and look forward to its continued success.”
Andrey Vakhovskiy, Managing Director at H.I.G. Capital, further commented, “We have enjoyed our partnership with the Milestone team and look forward to participating in the Company’s continued success as a minority investor alongside Halifax.”
William Blair & Company served as financial advisor to Milestone; McDermott Will & Emery served as legal counsel to Milestone and H.I.G. for this transaction. Goodwin Proctor LLP represented Halifax.
About Milestone Technologies
Milestone Technologies is a global managed services provider based in Silicon Valley and has been providing diverse IT Managed Services since 1997, helping hundreds of leading corporations deliver technology around the globe. The company employs over 3,100 industry professionals, serves over 200 clients, and operates in 31 different countries. For more information, please visit https://milestone.tech/ and follow Milestone Technologies on LinkedIn.
About H.I.G. Capital
H.I.G. is a leading global private equity and alternative assets investment firm with over $52 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, 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. is also a leading CLO manager, through its WhiteHorse family of vehicles, and 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 300 companies worldwide. The firm’s current portfolio includes more than 100 companies with combined sales in excess of $30 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.