H.I.G. Growth Partners Completes Strategic Investment in Scuf Gaming
BOSTON – February 6th 2017 – H.I.G. Growth Partners (“H.I.G.”), the dedicated growth capital investment affiliate of H.I.G. Capital, announced that it has completed a strategic investment in Scuf Gaming (“SCUF” or the “Company”), the leading designer, manufacturer, and e-commerce platform for sales of advanced feature, customized gaming controllers and accessories for use on PlayStation, Xbox and PC.
Headquartered outside Atlanta, Georgia, SCUF created the high-performance, customized console controller category, by challenging and redefining the way gamers use their hands. Inventing many features to increase hand-use, improve controller ergonomics and enhance performance, SCUF is about improving the user experience. Since its founding in 2011, SCUF has brought numerous innovations to the gaming and esports market and has 29 patents with another 68 pending. The Company’s controllers and accessories are best-in-class, with 90% of professional gamers using SCUF products in major console esports tournaments, which has helped SCUF build a tremendous social following.
Founder and CEO, Duncan Ironmonger said, “We are very excited about this partnership with H.I.G. and the shared vision we have for the next stage of SCUF’s growth. H.I.G.’s investment will provide us with the capital and strategic resources necessary to continue to grow our product assortment and distribution presence and further elevate the SCUF brand.”
John Kim, a Managing Director with H.I.G. Growth Partners, commented, “SCUF is the market leader in advanced feature gaming controllers with an unmatched intellectual property portfolio. We are excited to partner with Duncan and the entire SCUF team to continue the Company’s strong, profitable growth trajectory, further develop the SCUF brand, and introduce SCUF’s products to an even greater audience of consumers.”
About Scuf Gaming
Scuf Gaming® is a Global Leader and Innovator in esports, providing Tactical Gear for Elite Gamers and gaming enthusiasts. Selling high-end accessories and customized gaming controllers for PC and Console, SCUF offers a number of functional and design features custom built to increase hand use and improve gameplay. Built to specification, SCUF controllers cater to professional and enthusiast gamers who are looking for that edge and recognize that one size does not fit all. The primary focus for SCUF controllers are the functional features, which go toward improving your game, allowing you to reduce latency and use more of your hand in a safe and ergonomic way. The SCUF controller has features, which are covered by utility and design patents protecting 3 key areas of a controller: back control functions and handles, trigger control mechanisms and thumbstick control area. SCUF is the official controller partner of major gaming leagues: CWL, MLG, ESL, Gfinity, EGL and UMG.
About H.I.G. Growth Partners
H.I.G. Growth Partners is the dedicated growth capital investment affiliate of H.I.G. Capital, a leading global private equity investment firm with $21 billion of equity capital under management. We seek to make both majority and minority investments in strong, growth oriented businesses located throughout North America, South America and Europe. We will invest $5 million to $30 million in equity in a given company and target investments in profitable growth oriented businesses with between $10 million and $100 million in revenues. We consider investments across all industries, but focus on certain high-growth sectors where H.I.G. has extensive in-house expertise such as technology, healthcare, internet and media, consumer products and technology-enabled financial and business services. H.I.G. Growth Partners strives to work closely with our management teams to serve as an experienced resource, providing broad-based strategic, operational, recruiting and financial management services from a vast in-house team and a substantial network of third-party relationships. For more information, please refer to the H.I.G. website at www.HIGgrowth.com.
* Based on total capital commitments managed by H.I.G. Capital and affiliates.