H.I.G. Capital Announces Sale of Constructive Media
BOSTON – November 15, 2018 – H.I.G. Capital (“H.I.G.”), a leading global private equity investment firm with $30 billion of equity capital under management, is pleased to announce the sale of its portfolio company Constructive Media, LLC (“CM” or the “Company”) to Sandbox & Co (“Sandbox”) on behalf of Figjam Group Ltd.
Established over 20 years ago, CM is one of the largest digital media platforms at the intersection of education and casual gaming. The Company has curated and developed a large selection of highly entertaining thinking games across a range of genres and age groups for desktop and mobile. With its unique mix of “edutainment” content, CM has become one of the most trusted and popular brands on the internet with over 400 million users across the globe.
During H.I.G.’s investment period and partnership with CM, the Company achieved double-digit annual growth in users, substantially expanded the product and content offerings, and continued to invest in technology. In addition, the Company launched a subscription version of its gaming platform in 2017.
“We have had an exceptional partnership with the CM management team and are proud of the expansion and growth that the Company has enjoyed,” said John Von Bargen, a Managing Director at H.I.G. “Through continued investments in people and content, CM has developed into one of the most successful properties in educational gaming. We look forward to the Company’s continued success in partnership with Sandbox.”
Greg Barlow, CM’s CEO, said, “We have enjoyed partnering with H.I.G. over the past few years. Our team has valued the continued support and leadership provided throughout our partnership as we worked to achieve our goals and growth initiatives. We are excited to join Sandbox and its portfolio of complementary companies.”
About Constructive Media
Headquartered in New York City, Constructive Media was founded in the late 1990’s to offer a new way to discover and enjoy math. The Company has expanded considerably since then and continues to create new products on new topics across all digital platforms – mobile, app, web, and anywhere else its audience strives to learn and play. Constructive Media serves a global audience of students, casual gamers, and avid learners through its digital media platforms.
About H.I.G. Capital
H.I.G. is a leading global private equity and alternative assets investment firm with $30 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, Rio de Janeiro and São Paulo, 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 300 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.