H.I.G. Capital Announces a Strategic Investment in Trace3
MIAMI – June 15, 2017 – H.I.G. Capital (“H.I.G.”), a leading global private equity and alternative asset firm with over $21 billion of equity capital under management, is pleased to announce that one of its affiliates led a strategic investment in Trace3, Inc. (“Trace3” or the “Company”).
Headquartered in Irvine, CA, Trace3 is a leading digital transformation and IT solutions provider to medium- and large-sized enterprise clients. Since its founding in 2002, the Company has established a regional market-leading position in the technology solutions provider space with significant expertise in areas such as Cloud, Security, Data Intelligence, DevOps, Data Center solutions, etc. Trace3 employs over 250 engineers with deep domain expertise across IT design, implementation and operational disciplines.
Tyler Beecher, Trace3’s Chief Executive Officer, stated, “I am excited to partner with H.I.G., a highly respected investment firm with significant industry expertise and look forward to benefitting from an increased level of investment in the Company. The entire management team is excited to be working with the H.I.G. team in accelerating our Company’s growth while continuing the Company’s core value of putting our clients first.”
Rob Wolfson, Managing Director at H.I.G., commented, “Trace3 provides unparalleled expertise in the technology solutions provider space matched with incredible client service. We look forward to supporting the Company’s growth, continuing to expand the best-in-class service to Trace3’s clients, and maintaining an excellent culture that attracts leading industry talent.”
Hayes Drumwright, who founded Trace3 in 2002, will continue to serve on the board of directors and will remain a significant shareholder in the Company. Mr. Drumwright noted, “I am proud of the business that we have built over the last 15 years and I look forward to the next chapter. Our partnership with H.I.G. gives me great confidence that the Company will continue to build on its outstanding reputation for creating innovative technology solutions to long-standing client business challenges.”
The Company was advised by Union Square Advisors and H.I.G. Capital was advised by William Blair on the financing.
As the Transformative IT Authority, Trace3 is the premier technology solutions provider for medium- and large-sized enterprise clients. Through elite engineering and dynamic innovation, Trace3 empowers executives and their organizations to keep pace within the IT/corporate landscape through the transformative power of technology. Founded in 2002, Trace3 has kept pace with the needs of IT leaders by providing them access to emerging technology from Silicon Valley and building end-to-end Cloud, Data Intelligence, Security, DevOps and Data Center solutions. Headquartered in Irvine, California, Trace3 has additional offices in the Bay Area, Los Angeles, San Diego, Boise, Salt Lake City, Denver, Phoenix and New Jersey. For more information, please refer to Trace3’s website at www.trace3.com.
About H.I.G. Capital
H.I.G. is a leading global private equity and alternative assets investment firm with over $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:
- 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 $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.