H.I.G. Capital News
H.I.G. Capital, L.L.C.
1001 Brickell Bay Drive
Miami, FL 33131
H.I.G. Capital Completes Investment in Safe-Guard Products International, Inc.
MIAMI - July 11, 2007 - H.I.G. Capital LLC, a leading global private equity firm based in Miami, Florida, announced today that it has acquired a significant equity interest in Safe-Guard Products International, Inc.
With revenues approaching $200 million, Safe-Guard, based in Atlanta, Georgia, is a leading provider of after-market warranty products and services for new, used and leased motor vehicles. The Company's products and services protect consumers from the financial risks of owning an automobile, recreational vehicle, boat or motorcycle, while enhancing the consumer's ownership experience. Safe-Guard designs, markets and administers its products and services and sells them through a national network of independent agents who market to auto dealerships, vehicle leasing and financing companies, and other service contract producers.
H.I.G. partnered with management to consummate the transaction. "With H.I.G. as a partner, we are poised to continue growing our business and expanding our offering of products and services," said Douglas Duncan, the Founder and Chief Executive Officer of Safe-Guard.
Doug Berman, a Managing Director of H.I.G., commented "We are very excited to partner with Doug Duncan and the outstanding Safe-Guard management team. They are true industry innovators and are dedicated to providing their customers with the utmost value and support. We look forward to supporting the team and the next phase of Safe-Guard's growth."
About H.I.G. Capital, L.L.C.
H.I.G. Capital L.L.C. ("H.I.G.") is a leading global private equity investment firm with more than $4 billion of equity capital under management. Based in Miami, and with offices in Atlanta, Boston, and San Francisco in the U.S., as well as affiliate offices in London, Paris and Hamburg in Europe, H.I.G. specializes in providing capital to small and medium-sized companies with attractive growth potential. H.I.G. invests in management-led buyouts and recapitalizations of profitable and well managed manufacturing or service businesses. H.I.G. also has extensive experience with financial restructurings and operational turnarounds. Since its founding, H.I.G. has completed more than 75 transactions. The firm currently manages a portfolio of more than 50 companies with combined revenues in excess of $7 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.
For more information about the Safe-Guard Products, please visit www.safe-guardproducts.com.