H.I.G. Capital News

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Tenno Tsai
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ttsai@higcapital.com

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H.I.G. Capital Completes Investment in VIP Cinema

NEW YORK - May 10, 2017 - H.I.G. Capital ("H.I.G."), a leading global private equity investment firm with $21 billion of capital under management, is pleased to announce that one of its affiliates has made an investment in VIP Cinema Holdings, Inc (“VIP” or the “Company”).

Headquartered in New Albany, MS, VIP is a leading designer and assembler of premium seating solutions for the global cinema industry. Founded in 2008, VIP helped to pioneer the premium seating concept and is the largest manufacturer of luxury cinema seating in the world. As an innovative and value added partner to cinema exhibitors, VIP’s products have revolutionized the movie-going experience for consumers and driven attractive returns on investment for exhibitors.

“We are very excited to partner with Steve Simons, Eddie Powell and the rest of the VIP Cinema team,” said Tenno Tsai, Managing Director at H.I.G. “VIP is the clear leader in a rapidly growing market and has a compelling customer value proposition. We see tremendous opportunities in the business and are excited to support their continued growth, particularly in international markets.”

Steve Simons, CEO of VIP, commented, “H.I.G. and VIP have common philosophies about customer focus, taking care of employees and product innovation. H.I.G. was the ideal partner for us as we look to accelerate our growth initiatives.”

About VIP Cinema
VIP Cinema is the leading designer and assembler of premium seating solutions for the global cinema industry. VIP serves cinema exhibitors, large and small, with a wide selection of seating products that are fully customizable and able to be configured for all auditorium layouts. The company sells both premium recliners and smaller, concentrated seats, to address all needs of exhibitors. In addition to its product development capabilities and nearly 100% on-time delivery track record, VIP also provides all aftermarket parts for its products, serving as a one-stop-shop for all seating needs throughout the life cycle. For more information, please visit www.vipcinemaseating.com/.

About H.I.G. Capital
H.I.G. is a leading global private equity and alternative assets investment firm with $21 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, Mexico City and Rio de Janeiro, 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:

  1. 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.
  2. 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.
  3. H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.

Since its founding in 1993, H.I.G. has invested in and managed more than 200 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.