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HIG Capital recaps data monitoring software company Infogix

13 Jun 2012

Global buyout house HIG Capital has completed the recapitalisation of IT solutions company Infogix.

The company provides software solutions for data monitoring and analysis to prevent errors in business data and aid audits and compliance requirements.

HIG specialises in providing capital to small and medium-sized companies it believed have attractive potential for growth.

Executive managing director Rick Rosen said, “Infogix has developed a unique technology that creates a highly compelling customer value proposition, as evidenced by its impressive roster of longstanding blue-chip corporate clients.

“We look forward to helping Infogix to continue to grow and enhance its product offering and value proposition.”

Infogix CEO Sumit Nijhawan said, “H.I.G.’s investment in Infogix provides us with the resources and strategic vision that will enable us to further develop our industry-leading platform of data integrity solutions.

“While we expect that customers will experience a seamless transition in this new partnership, in the long-term, they will also enjoy enhanced product and service offerings.”

HIG has more than $8.5bn of equity capital under management and has invested in over 200 companies since it was founded in 1993.

The firm completed a $49m take-private deal for energy management company Comverge last month.

The US-based company agreed to a $1.75 per share deal following more than a year of exploring alternative strategies – a seven per cent discount on the share price at close on Friday.

It sold just over 17.9 million shares of common stock, representing approximately 65 per cent of the company’s outstanding shares.

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