H.I.G. Capital Completes Strategic Investment in Hart InterCivic
SAN FRANCISCO – July 6, 2011 – Hart InterCivic Inc., the leading national provider of election voting systems, election management products and services, today announced that an affiliate of H.I.G. Capital, LLC, has partnered with Hart InterCivic’s owners and management to make a strategic investment in the Company. The investment positions the Company for continued growth in its state, county and municipal technology businesses. The financial terms of the investment were not disclosed.
“We’re proud to join with H.I.G. as co-investors as we continue the growth and success of Hart,” said Gregg Burt, Chairman of Hart InterCivic. “H.I.G. shares and supports our vision, values, commitment to excellence and innovation, and-above all-commitment to meeting our customers’ needs. I look forward to working with them to continue, and build upon, the Hart InterCivic tradition of trusted leadership within the election industry.”
Neil Tuch, a Managing Director of H.I.G. said “Hart InterCivic is a well-positioned, high-growth company with a great future. We are pleased to become significant investors in Hart, and particularly excited we were able to join with management to complete this transaction. We look forward to working with the entire Hart InterCivic team to continue serving its growing customer base while building the Company’s value for its clients, employees, and shareholders for years to come.”
About Hart InterCivic, Inc.
Hart is a leading national provider of voting systems, election management products and services. Hart delivers a deep-rooted level of credibility across the electoral process with field-proven products, services and support that successfully, dependably meet the rigorous demands of today’s election procedures. Millions of votes are cast each year using Hart’s eScan™ and eSlate® polling place voting systems and Ballot Now central scanning / by-mail solution. Hart’s latest products, ePollbook® and the eSlate A/T®have triggered dramatic growth in the market. For more information, please visit www.hartintercivic.com.
About H.I.G. Capital
H.I.G. Capital is a leading global private equity investment firm with more than $8.5 billion of equity capital under management. Based in Miami, and with offices in Atlanta, Boston, New York, and San Francisco in the U.S., as well as affiliate offices in London, Hamburg and Paris in Europe, H.I.G. specializes in providing capital to small and medium-sized companies with attractive growth potential. H.I.G. invests in management-led buyouts and recapitalizations of profitable and well managed manufacturing or service businesses. H.I.G. also has extensive experience with financial restructurings and operational turnarounds. 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 50 companies with combined revenues in excess of $8 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.