H.I.G. Capital (H.I.G.), a private equity investment firm with $19 billion of equity capital under management,has acquired AVI-SPL, Inc. AVI-SPL, as you well know, is the industry’s largest commercial AV integrator. Some background that no one else covering this story seems to mention is that AVI-SPL was already partially owned by another private equity company, Silver Lake Partners, who has been shopping AVI-SPL for over 16 months now. So, H.I.G. basically bought that portion owned by Silver Lake and now owns all of AVI-SPL.
Headquartered in Tampa, Florida, the AVI-SPL has a little over 1,500 employees throughout 35 locations worldwide, with 29 offices in the US and 6 internationally (Canada, UK and UAE). The Company’s extensive office footprint has supported the completion of over 35,000 AV and video collaboration deployments since 2008 in over 101 countries. A diverse array of clients rely on AVI-SPL to design, engineer and integrate increasingly complex collaboration solutions and to support their systems with maintenance, on-site staff and cloud-based managed services.
Richard Stokes, Managing Director at H.I.G. Capital, commented, “AVI-SPL is the established market leader in the AV systems and collaboration solutions market and we look forward to supporting the continued expansion of the company’s service offering and geographic footprint.” Todd Ofenloch, Managing Director at H.I.G. Capital added, “AVI-SPL is exceptionally well positioned for continued growth, driven by the critical nature of its solutions within increasingly tech-enabled work spaces. We are excited to work with the company to take the business to the next level.”
Here is a list of the companies they own – this is the first company in the AV market. It may also be interesting to note that the WSJ says that the average time a private equity firm owns a property is 5.5 years but Silver Lake actually help AVI-APL for a little over 7 years.
“We’re proud to partner with H.I.G. Capital, a highly respected firm that is aligned with AVI-SPL’s vision of the future and the strategic plan to get there,” said John Zettel, AVI-SPL’s CEO, “AVI-SPL continues to distinguish itself through the rapidly growing collaboration solutions space. Together with H.I.G. Capital, our potential for accelerated growth to meet the needs of tomorrow’s enterprise clients is limitless.”