MIAMI–(BUSINESS WIRE)–Mar 26, 2021–
H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with over $43 billion of equity capital under management, is pleased to announce that an affiliate has signed a definitive agreement to acquire Hibu Group (USA), Inc. (“Hibu” or the “Company”), a leading provider of digital marketing services to small and medium-sized businesses (“SMBs”) across the United States.
Headquartered in Cedar Rapids, Iowa, Hibu is a leading provider of digital marketing solutions to SMBs across the United States. The Company’s comprehensive suite of solutions includes search, social and display advertising, and search engine optimization (“SEO”), as well as custom website development, listings management, and reputation management. Hibu’s solutions provide a one-stop shop and allow its SMB customers to have a truly integrated digital marketing program to attract and retain customers and grow their businesses. Today, Hibu serves over 80,000 customers across a wide range of industries through a highly trained sales force with nationwide local coverage.
Kevin Jasper, Chief Executive Officer of Hibu commented, “The investment by H.I.G. is a recognition of all that the team has accomplished to date, and we are excited to partner with H.I.G. to support our next phase of growth. Hibu is committed to continuing to innovate and provide its local business customers with easier and more effective ways to execute their digital marketing strategies, build and enhance their online presence and reputation, and optimize digital ad spend.”
“We are delighted to partner with Kevin and the Hibu team,” said Matt Gullen, Managing Director at H.I.G. “We believe there is immense opportunity ahead for Hibu given its strong SMB value proposition, including a best-in-class integrated service offering, differentiated technology, and exceptional customer service. The Company has established itself as a leader in the industry, and we look forward to working with the team to build upon their success and support continued growth initiatives.”
The transaction is subject to customary closing conditions and completion of review under antitrust laws, including the Hart-Scott-Rodino Antitrust Improvements of 1976.
Houlihan Lokey acted as financial advisor and McDermott Will & Emery LLP provided legal advice to H.I.G. Moelis & Company acted as financial advisor and Cravath, Swaine & Moore LLP acted as legal counsel to the Company and Hibu Group Limited on the transaction.
Headquartered in Cedar Rapids, Iowa, Hibu provides a full suite of integrated digital marketing services to SMBs including digital listings management, website development and management, search engine marketing and optimization, online and mobile display, and social campaign creation and management. Today, Hibu serves over 80,000 customers across a wide range of industries across the United States. Hibu is a Facebook Marketing Partner, Google Ads Premier Partner, Google My Business Partner, and Microsoft Advertising Select Channel Partner.
About H.I.G. Capital
H.I.G. is a leading global private equity and alternative assets investment firm with over $43 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. 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.
About Hibu Group Limited (the “Seller”)
Based in Reading, Berkshire, United Kingdom, the Hibu Group is a leading provider of digital marketing solutions to local businesses across the U.S. where it has operated as Hibu and in the UK where it operates as Yell.
* Based on total capital commitments managed by H.I.G. Capital and affiliates.
View source version on businesswire.com:https://www.businesswire.com/news/home/20210326005230/en/
CONTACT: Matt Gullen
KEYWORD: FLORIDA IOWA UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: BANKING TECHNOLOGY PROFESSIONAL SERVICES MARKETING COMMUNICATIONS OTHER TECHNOLOGY SEARCH ENGINE MARKETING OTHER PROFESSIONAL SERVICES NETWORKS INTERNET FINANCE
SOURCE: H.I.G. Capital
Copyright Business Wire 2021.
PUB: 03/26/2021 09:00 AM/DISC: 03/26/2021 09:00 AM
Copyright Business Wire 2021.