H.I.G. Capital News
Kevin Van Culin
One Sansome Street
San Francisco, CA 94104
H.I.G. Capital Announces Growth Investment in Concord and Upton Hill
SAN FRANCISCO – April 6, 2021 – H.I.G. Capital ("H.I.G."), a leading global alternative investment firm with over $43 billion of equity capital under management, is pleased to announce that an affiliate has completed a growth investment in Concord USA, LLC (“Concord” or the “Company”) and Upton Hill Inc. (“Upton Hill”).
Headquartered in Minneapolis, MN, Concord provides technology consulting and digital transformation services to leading enterprise customers in healthcare, technology, manufacturing, and financial services. Founded in 2003, the Company offers a comprehensive suite of solutions within cloud applications & integration, data & analytics, information security, digital & user experience, and advisory services. In connection with H.I.G.’s investment, Concord has acquired Upton Hill, a Minnesota-based, healthcare focused consulting firm with deep healthcare payor expertise.
Florin Ibrani, Concord’s Chief Executive Officer, stated, “We are excited to enter our next phase of growth and welcome H.I.G. as our new partner. We believe this partnership will help us bring more services and enhanced capabilities to our customers. Additionally, Upton Hill deepens our expertise in the complex payor ecosystem, providing our respective customers with end-to-end solutions to meet their unique challenges.”
Kevin Van Culin, Managing Director at H.I.G., commented, “We have been extremely impressed with the quality of the Concord team, and have a shared vision for the business. We are thrilled to be partnering with Concord and Upton Hill to support the Company’s growth while maintaining the strong culture that has attracted industry leading talent and long tenured customers.”
Hennepin Partners LLC served as the exclusive financial advisor to Concord on the transaction and Faegre Baker Daniels LLP provided legal advice. Clearsight Advisors served as financial advisor to H.I.G. and McDermott Will & Emery LLP provided legal advice.
Concord USA, LLC (“Concord”) is a leading technology consulting and digital transformation firm based in Minneapolis, MN, with supporting operations in Eastern Europe. Concord serves leading enterprises and innovators in the healthcare, technology, manufacturing, and financial services industries. With a unique combination of industry expertise, technology know-how, and project execution reliability, Concord helps its customers unlock business value by solving their most difficult data and technology problems. For more information, please visit www.concordusa.com.
About H.I.G. Capital
H.I.G. is a leading global private equity and alternative assets investment firm with over $43 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. 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.