H.I.G. Capital News
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H.I.G. Capital Completes Acquisition of Buck
NEW YORK – August 22, 2018 – H.I.G. Capital ("H.I.G."), a leading global private equity investment firm with over $25 billion of equity capital under management, is pleased to announce that one of its investment funds has completed the carveout acquisition of certain assets comprising the Buck business (“Buck” or the “Company”), from Conduent, Inc. The transaction creates a premier, independent benefits consulting and administration organization with a global footprint.
Buck, initially founded in 1916 as an actuarial consulting firm, today offers a diverse portfolio of retirement and health benefits advisory, analytics, administration, and employee communication solutions powered by industry-leading technology. Buck’s clients include large global corporations, mid-market and regional companies, and governmental agencies throughout North America and Europe.
“As an independent entity operating under the relaunched Buck brand, we are well positioned to grow across all aspects of our business. With global scale and best-in-class technology, combined with our deep bench of experienced and passionate professionals, we are proud to continue serving as a trusted partner to our clients. Buck is uniquely positioned amongst its competitors as a nimble, agile and client-centric provider for customized solutions to drive positive health, wealth and career outcomes for employees and retirees,” said Jack Freker, Chief Executive Officer at Buck. “We are eager to embark on this new chapter of accelerated growth and investment in our organization, employees, technology and capabilities.”
“Buck is an excellent platform within the integrated HR consulting and services space. We’ve invested in an exciting organization with a full suite of services, differentiated technology, thought leadership, an exceptionally talented group of employees and unparalleled client tenure,” said Matt Lozow, Managing Director at H.I.G. “We look forward to further helping Buck scale its existing services and build new solutions for a dynamic marketplace.”
Buck is an integrated HR consulting, benefits administration and technology services provider. Based in New York, with global operations, Buck is focused on helping its clients realize the best organizational performance for their business while driving positive health, wealth and career outcomes for their employees. For additional information, visit www.buckglobal.com.
About H.I.G. Capital
H.I.G. is a leading global private equity and alternative assets investment firm with over $25 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, 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.