H.I.G. Growth Portfolio Company Trox, Completes Merger with Tierney
BOSTON – April 29, 2021 – H.I.G. Growth Partners (“H.I.G.”), the dedicated growth capital investment affiliate of H.I.G. Capital, has announced the merger of its portfolio company, Trox, the leading provider of technology solutions to the North American education vertical, with Tierney, a leading provider of A/V solutions and services for education in the U.S. The merger positions the joint organization as one of the largest education technology solutions provider in North America.
With over 80 years of collective experience in the education sector and more than 750 talented associates, Trox + Tierney is focused on providing technology to the K-12 market and addressing some of K-12’s most pressing challenges – providing access to learning for students and easing the burden on educators and students when it comes to effectively communicating and collaborating in any setting.
With complementary geographic footprints, the combined organization will be able to better serve the U.S. education sector. The addition of Tierney rounds out Trox’s comprehensive product and service offering with a complete suite of education-specific services, including design and installation, IT asset disposition (ITAD) and product lifecycle management, professional development, and pre- and post-deployment technical support.
“We were seeking a partner to help us better address the challenges faced by educators and students and Tierney was the ideal choice,” said Erez Pikar, CEO, Trox. “As a joint company with unparalleled scale, Trox + Tierney will be able to offer new skills, greater value, and improved purchasing efficiencies to districts and other organizations, as well as access to a larger network of vendors, products, and geographies.”
“Both Trox and Tierney share strong, value-driven cultures, which we will build upon as a unified organization,” said Rob Gag, CEO, Tierney. “Our customer-first approach and deep market knowledge will enable us to bring new and innovative services and offerings to market faster, helping our customers better leverage technology to address their toughest challenges.”
Steve Loose, a Managing Director with H.I.G., added, “We are very excited about the Trox + Tierney combination. Both companies have a long history of supporting the advancement of K-12 education through the use of technology. We are very confident in the success of the combined business.”
For nearly 40 years, Trox has championed the use of technology to broaden access and improve learning. As North America’s leading education technology provider, the company empowers educators to confidently purchase, implement, use, and manage technology resources by using technology to address their challenges and improve the learning landscape. Trox’s expansive product portfolio, combined with its deep understanding of how technology can be used to manage, teach, and learn, makes the company a beloved partner to tens of thousands of districts across the U.S. and Canada. Providing technology that is in use by over 20 million students daily, Trox is committed to driving transformative change in education by enabling learning without limits. Learn more at www.trox.com.
Tierney has been a leading provider of technology solutions for K-12 schools, higher education institutions, government organizations, and corporate businesses for over 40 years. With a focus on the customer, helping teachers teach, students learn and workers work; Tierney provides a line of products, and services to support projects of any size from start to finish. Learn more at www.tierney.com.
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 alternative investment firm with $44 billion of equity capital under management.* H.I.G. Growth seeks to make both majority and minority investments in strong, growth-oriented businesses located throughout North America, Europe and Latin America. H.I.G. Growth Partners considers investments across all industries but focuses on certain high-growth sectors where it 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 strives to work closely with its 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.