H.I.G. Capital News
H.I.G. European Capital Partners Spain, S.L.U.
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H.I.G. Europe Acquires 100% of Vértice 360 Servicios Audiovisuales (VSA)
- H.I.G. Europe exercises its option to purchase 50.01% of VSA, of which it has held 49.99% since October 2012.
- A services agreement has also been signed under which VSA will provide certain services aimed at assisting Vértice 360 in the management and operation of Vértice 360's film catalogue, one of the most extensive Spanish-language catalogues in the sector, with over 2,000 films.
MADRID - July 25, 2013 - H.I.G. Capital, a leading global private equity investment firm with over $13 billion dollars under management, announced today that its European affiliate, H.I.G. Europe, has increased its position to 100% in Vértice 360 Servicios Audiovisuales (VSA), having exercised fully the option it held for 50.01% of the company's share capital. The amount of the transaction was not disclosed. H.I.G. Europe acquired a 49.99% stake in VSA, acquired from Vértice 360 in October 2012.
H.I.G. Europe becomes the sole owner of the company, a leader of the Spanish audiovisual sector which, among other activities, bids in major outsourcing tenders of the regional state-owned television stations. VSA owns reference companies in the Spanish audiovisual landscape including audiovisual, production and postproduction companies such as Videoreport, Telson and Apuntolapospo.
Additionally VSA and Vértice 360 have also signed a services agreement under which VSA will support Vértice 360 in the management and operation of Vértice 360's film catalogue. This is one of the most extensive Spanish-language catalogues in the sector, with over 2,000 films and places VSA in a strategic position to offer a robust range of services going forward.
Jaime Bergel, Managing Director of H.I.G. Europe in Spain, said: “VSA was H.I.G. Capital's first investment following the opening of our Madrid office last year. Today, we are very pleased with this follow-on transaction and to have taken control of VSA, which represents a great investment opportunity for us. We believe VSA is set to play a key role in the sector from its current leadership position. In our new role as sole shareholders we shall continue to support the management team as we have done to date to achieve their ambitious strategic objectives”.
Giovanni Rier, CEO at VSA, added: “H.I.G.'s firm commitment to VSA is great news, which strengthens our project going forward and our leadership position in the Spanish audiovisual landscape in segments including: production, postproduction, outsourcing, content marketing and advertising to the various market players”.
About H.I.G. Capital
H.I.G. Capital is a leading global private investment firm with over $13 billion of capital under management. Based in Miami, and with offices in Atlanta, Boston, Chicago, Dallas, New York, and San Francisco in the U.S., as well as international affiliate offices in London, Hamburg, Paris, Madrid and Rio de Janeiro, H.I.G. specializes in providing capital to small and medium-sized companies with attractive growth potential. H.I.G. invests in leveraged buyouts (LBOs), management-led buyouts and recapitalizations (MBOs) and industrial consolidations, as well as acquiring minority stakes in companies that offer value-added products or services. H.I.G. also has experience in distressed situations and operational and financial restructurings. Since its inception in 1993, it has managed and invested in over 250 companies globally with combined revenues of over $30 billion.
About Vértice 360o Servicios Audiovisuales (VSA)
Vertice 360o Servicios Audiovisuales is a leader in providing comprehensive technical services and equipment for audiovisual production, post-production and advertising, broadcasting television channels and live events. It comprises audiovisual companies such as Telson, Videoreport, Apuntolapospo, Acicala, Videac, Vértice Estudio, Inevent and Itesa.