H.I.G. Capital News
H.I.G. Growth Partners
500 Boylston Street
Boston, MA 02116
H.I.G. Growth Partners Completes Sale of Centerfield
BOSTON – February 26, 2020 – H.I.G. Growth Partners ("H.I.G."), the dedicated growth capital investment affiliate of H.I.G. Capital, is pleased to announce that it has completed the sale of its portfolio company, Centerfield Media Holdings ("Centerfield" or the "Company"), a leading technology driven end-to-end digital marketing and sales conversion business to Platinum Equity.
Founded in 2011 and headquartered in Playa Vista, California, Centerfield develops intelligent digital advertising technology focused on real time biddable media which enables targeting and acquisition of high performing, high lifetime value customers for its clients across numerous industries. The Company’s sophisticated marketing technology platform leverages Big Data and optimizes each part of the customer acquisition process from initial view through offline sale in real time for the highest possible return on advertising spend.
H.I.G. recapitalized Centerfield in 2015 in partnership with the founding management team. During H.I.G.’s investment, Centerfield experienced significant growth and became a leading player in the digital marketing and customer acquisition landscape. H.I.G. was able to support the business’ trajectory through continued investment in Centerfield’s best-in-class technology platform and the execution of accretive acquisitions to both vertically integrate the business and diversify traffic sources.
"We are proud of the successful partnership we were able to establish with Centerfield including the active role H.I.G. played in identifying and executing on add-on acquisitions as well as supporting internal organic growth initiatives," commented H.I.G. Managing Director Eric Tencer. "Centerfield’s strong growth during our investment period helped drive an outstanding outcome for all shareholders, and we are confident that the Company will continue to enjoy long-term success."
H.I.G. continues to target high-growth investments in the technology sector, with recent investments in MX Technologies, a leading data platform for banks, credit unions and fintech companies; Passport Labs, a mobility management platform; and Invoca, an AI-powered call tracking and analytics platform.
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 private equity investment firm with over $35 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.