H.I.G. Capital Completes U.K. Structured Real Estate Debt Investment to Support VIRTUS Expansion Strategy
LONDON – July 13, 2017 – H.I.G. Capital, LLC (“H.I.G.”), a leading global private equity and alternative asset investment firm with more than €20 billion of equity capital under management, announced today that an affiliate of H.I.G. Realty Partners has completed a structured debt investment into the UK data center industry. H.I.G. has participated in the debt syndication to assist VIRTUS Data Centres, a leading mid-market co-location data center company operating in the London market, to refinance its existing facilities and further fund its expansion strategy. Terms were not disclosed.
H.I.G. continues to add to its sizable portfolio of real estate assets in Europe, consisting of both equity as well as debt investments, with a particular focus on its target market of value-added small/midcap opportunities.
Riccardo Dallolio, Managing Director and Head of Real Estate Europe at H.I.G. Realty in London, commented: ”This transaction further demonstrates our ability to invest across the capital structure in different asset classes and jurisdictions. We continue to see interesting small/midcap value-add opportunities in the U.K. market”.
Graham Emmett, Managing Director at H.I.G. Realty in London added: “VIRTUS is a top-tier award-winning data center operator with a strong track-record and a proven business model. We are delighted to work alongside the VIRTUS management team to help them pursue the company’s growth ambition”.
About H.I.G. Capital
H.I.G. is a leading global private equity and alternative assets investment firm with over €20 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:
- 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.
- 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.
- 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 €28 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.
About VIRTUS Data Centres
VIRTUS Data Centres, the UK’s fastest growing data centre provider, owns, designs, builds and operates the country’s most efficient and flexible data centres. VIRTUS leads the industry with award winning innovation in hyper efficient, ultra-high density and highly interconnected facilities.
Located in and around London’s metro, VIRTUS offers the best of traditional retail and wholesale colocation models, combining dedicated support and complementary ecosystems with low cost, scalable and custom solutions, in uniquely flexible and customer friendly packages. Customers also benefit from Tier III certified, ultra-secure facilities, that provide 100 per cent uptime; protecting and connecting data, applications, networks and clouds within VIRTUS Data Centres and the global digital economy.
* Based on total capital commitments managed by H.I.G. Capital and affiliates.