
H.I.G. Capital Acquires Classic Lifts Limited
H.I.G. Capital (“H.I.G.”), a leading global alternative asset investment firm with $53 billion of equity capital under management, is pleased to announce that one of its affiliates has acquired Classic Lifts Limited (“Classic” or the “Company”), a leading UK provider of lift engineering and maintenance services. Classic’s current management team will reinvest alongside H.I.G. The financial terms of the transaction have not been disclosed.
Classic provides lift installation and maintenance services from seven branches across the UK. The business has developed a strong reputation for high-quality service provision in its market, having grown both organically and inorganically in recent years. H.I.G., together with the management team, aims to continue Classic’s track record of growth, both through M&A and organically, to become the market-leading independent service provider.
Classic follows on from H.I.G.’s acquisition of CPS, a leading mechanical and electrical building services provider in the UK, as the second business within a broader technical building services group. It will form the core of the lift installation and maintenance offering within the group. Further acquisitions are anticipated across fire protection, water and pumps, access and security, and associated compliance services.
Keith Snow, CEO of Classic, remarked, “We are very pleased to be joining H.I.G. as they work to build a leading technical building services group that shares our focus on customer service. This is the start of the next phase of growth for Classic as we look to continue our M&A strategy and build on customer relationships across both Classic and CPS.”
Jonathan Simpson-Dent said, “Keith and his team have built Classic into a leading national lift servicing business over the course of the past decade with a demonstrated track record of delivering quality to Classic’s customers. I’m excited to be working with Keith and his team to drive further growth at Classic and to continue our acquisitive technical services growth strategy.”
John Harper, Managing Director at H.I.G., said, “We are very excited to be partnering with Keith and the Classic team to build on the Company’s track-record of success. Classic’s long-term growth record, talented staff and strong reputation with their customers were core to our interest in the business. We are pleased that the team has decided to join our group of technical building services companies.”
About Classic Lifts
Classic is a leading independent lift installation and maintenance company with branches across the UK. Classic is passionate about using its local presence and technical expertise to deliver great customer service centred around the values of integrity, honesty and reliability. For more details see www.classiclifts.co.uk/.
About H.I.G. Capital
H.I.G. is a leading global alternative assets investment firm with $53 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, Rio de Janeiro, São Paulo and Bogotá, 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:
- H.I.G.’s equity funds invest in management buyouts, recapitalizations and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
- H.I.G.’s debt funds invest in senior, unitranche and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. is also a leading CLO manager, through its WhiteHorse family of vehicles, and manages a publicly traded BDC, WhiteHorse Finance.
- H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.
- H.I.G. Infrastructure focuses on making value-add and core plus investments in the infrastructure sector.
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.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230117005227/en/
Contact information
John Harper
Managing Director
jharper@higcapital.com
Adam Taylor
Principal
ataylor@higcapital.com
About Business Wire
(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Everen Declares $200 Million Dividend and Welcomes New Chief Operating Officer27.3.2023 22:59:00 CEST | Press release
Everen Limited (Everen) held its March 2023 Board Meeting on Tuesday, March 21st and its Annual General Meeting (AGM) on Thursday, March 23rd. During the Board Meeting, the directors approved Everen’s 2022 financial statements, discussed the ongoing execution of the 5-year Strategic Plan, and declared a dividend in the aggregate amount of $200 million payable on or before September 29, 2023 to shareholders of record on March 21, 2023. During the AGM, the Shareholders approved technical wording corrections to the Eligibility Requirements and definition of a Nuclear Facility and amended Everen’s Bye-Laws to resolve inconsistencies and elements not required by the Bermuda Companies Act 1981. They also elected a new Board of Directors who will serve for a year ending at the March 2024 AGM. The Shareholders recognized Gail Miller (VP, Human Resources) for her 18 years of service and significant contributions to the organization and also welcomed Robert Foskey into the role of Chief Operatin
Co-Founder John Keppler Rejoins Enviva Inc. as Executive Chairman of the Board27.3.2023 22:46:00 CEST | Press release
Enviva Inc. (NYSE: EVA) (“Enviva,” “our,” “we,” or the “Company”) today announced that John Keppler is returning to the Company as Executive Chairman, effective April 1, 2023. Thomas Meth will continue to lead the Company as President and Chief Executive Officer, and the Company’s interim Chairman, Ralph Alexander, will transition to the role of Lead Independent Director of the Board. Today’s announcement is consistent with the Board of Directors’ (the “Board”) governance plan as announced in November 2022, when Mr. Keppler stepped down from his role as Chairman and CEO of Enviva to address a heart condition. With Mr. Keppler’s recovery and rehabilitation following heart surgery well underway, he is returning to the Company to support his co-founding partner and CEO, Thomas Meth. As Executive Chairman, in cooperation with Mr. Meth, Mr. Keppler is expected to help drive strategic corporate initiatives, growth, and interaction with key capital markets and financial stakeholders. “I am ve
French Blood Establishment (EFS) & Brenus Pharma Partner for the GMP Production of STC-1010, an Innovative Therapy Against Colorectal Cancer27.3.2023 18:00:00 CEST | Press release
The French Blood Establishment (EFS) and Brenus Pharma announce their strategic partnership in the bioproduction of innovative therapy drugs (ITD), highlighting French expertise. This collaboration is part of a shared vision: developing the French bioproduction sector nationally and internationally. EFS’ Cell Therapy and Engineering Unit (UTICELL), based in Saint-Ismier, France, shows recognized expertise in the cell therapy field since 2003 confirmed by a European GMP Certification issued by the ANSM in 2015 for manufacturing, control and storage sites for MTIs. UTICELL also benefits from EFS’ four other certified sites’ expertise. Brenus’s proprietary platform passed key regulatory milestones in 2022 (FDA Pre-IND, EMA Scientific-Advice) and the two synergistic entities have been collaborating effectively for several months to produce GMPs batches through a first scale-up. This public-private partnership aims for a long-term perspective and will lead in 2023 to the production of clini
ETC Group Unveils New Future-Forward Global Brand27.3.2023 17:15:00 CEST | Press release
ETC Group (“ETC”), a leading global value-added distributor for the telecom network and digital infrastructure industry, announced today its intent to rebrand to Netceed. The Group’s brands will integrate into a singular organization across the globe including USTC Corp, Walker, Comstar Supply, and Multicom in the U.S.; EuroTechnoCom in France; ETCP and iETC in Portugal; Comtec in the UK, Qatar, Oman, UAE, and Hong Kong; ILDC in Israel; DNT in the Dominican Republic; ETC Morocco Networks; ETC Germany Networks; Klonex-VCS in Poland; and Tiba Produktions & Vertriebs GmbH in Austria. The unification of the Group reflects the already well-established global reach and local expertise of the companies powered by ETC Group, now coalescing them under one brand worldwide. The transition to the unified global Netceed brand is planned sequentially over six months, starting with its brands in the U.S., France, and the UK. The new name, Netceed, paired with a bold and vibrant new brand design embod
Africell Angola Races Towards 10 Million Subscribers Using Csmart Digital BSS Platform27.3.2023 16:21:00 CEST | Press release
Within 8 months of launching services in Angola, Africell already has over 7 million subscribers. To achieve such rapid progress, Africell needed a new-age digital solution that would help execute its market timelines and provide reliable services across its expanding Angola footprint. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230326005092/en/ Africell’s vision of bringing new products to market which make a positive difference to customers has been facilitated by Csmart, a digital BSS platform built to meet the growth requirements of innovative telecoms players like Africell. The solution - which is built on TM Forum’s ODA and Open API standards - helps customers monetize any business model, network, service, and experience at scale. “We are committed to delivering on Africell’s vision of affordability, reliability and customer experience,” says CEO of Covalense Digital, Sreenivas Peesapati, adding that “Csmart would c