H.I.G. Capital News
H.I.G. Capital, L.L.C.
H.I.G. Capital, L.L.C.
H.I.G. Capital Acquires Rennhack Marketing Services
April 30, 2004 - H.I.G. Capital, a Miami-based private equity firm, announced today that it has acquired Rennhack Marketing Services, Inc. (“RMS”). RMS, based in Dallas, Texas, is a leader in establishing, implementing and managing premium incentive solutions for industries including financial services, retail and healthcare. Terms were not disclosed.
James Gresham, President and CEO of RMS, commented, “we are proud to be a part of the H.I.G. family of companies and look forward to leveraging their middle market experience to help us drive continued growth and deliver an even more robust customer service platform to best serve our current and future customers.”
RMS provides and manages premium-based marketing programs to facilitate customer account acquisition. The Company coordinates the sourcing and delivery of premium gifts to increase the customer yield of its client base. RMS' gifts are typically brand name merchandise from leading consumer product companies which allow its customers to provide a differentiated product offering from competitors.
RMS competes within the highly fragmented $15 billion promotional products industry, which has experienced tremendous growth over the past decade. Within the financial institutions market, which is the largest user of promotional products, RMS is the leading company focused on providing premium incentive solutions. RMS has 25 years of experience within the industry and has earned strong brand name recognition and customer loyalty over this time period. Management’s significant investment in its customer interface and back office infrastructure have positioned the Company for attractive future growth.
“We are excited to partner with RMS,” said Anthony DiSimone, Principal of H.I.G. Capital. “RMS has an outstanding management team with a superior track record in the industry. We believe there is a significant opportunity for RMS to build on its reputation as the premier provider of premium incentive solutions by leveraging its highly skilled employee base, sophisticated logistics capabilities and its highly scalable distribution network.”
Terms of the transaction were not disclosed.
About H.I.G. Capital
H.I.G. Capital is a leading private equity and venture capital investment firm with more than $1.5 billion of equity capital under management. Based in Miami, Florida, and with offices in Atlanta, Boston, and San Francisco, H.I.G. is one of the most active private equity investors in small and medium-sized companies. H.I.G. invests in management-led buyouts and recapitalizations of well-established and well-managed manufacturing or service businesses with attractive growth potential, and in promising early stage technology companies. Through its Bayside Opportunity Fund, H.I.G. is also an active investor in restructurings and turnaround situations. Since its founding, H.I.G. has made more than fifty highly successful investments, acquiring companies with combined revenues in excess of $5 billion. For more information, visit H.I.G. Capital’s web site at www.higcapital.com.