H.I.G. Capital has sold its portfolio company, DIAM International, a designer and manufacturer of point-of-purchase displays, to LBO France, a French private equity firm. H.I.G. had invested in DIAM in 2007, through its European affiliate H.I.G. Europe, and its credit affiliate Bayside Capital.
DIAM is a designer and manufacturer of high quality luxury and retail point of purchase displays. The company’s primary business segments include prestige retail displays, mass-market displays, non-cosmetic displays and installation services. DIAM has more than1,300 employees in 13 countries throughout Europe, Asia, Africa, North America, and Australia and is based in Paris (www.diaminternational.com).
“H.I.G. has been a tremendous partner to DIAM and has been instrumental in helping us execute our growth strategy,” said Michel Vaissaire, Chief Executive Officer of DIAM. “In the last five years, we’ve significantly expanded our international sales, made a key acquisition, and made sizeable investments to improve our market leading customer support and manufacturing efficiency. We are very happy to now welcome LBO France as a shareholder.”
H.I.G. Capital specializes in providing capital to small and medium-sized companies and invests in management-led buyouts and recapitalizations of manufacturing or service businesses. Since its founding, H.I.G. has invested in and managed more than 200 companies and the firm’s current portfolio includes companies with combined revenues in excess of $8 billion. H.I.G. Capital has more than $8.5 billion of equity capital under management and is based in Miami, FL and has other offices in Atlanta, GA; Boston, MA; San Francisco, CA; London, UK; Rio de Janeiro, Brazil; Hamburg, Germany; and Paris, France (www.higcapital.com).
“DIAM was an extremely successful investment for H.I.G.,” said Olivier Boyadjan, Managing Director of H.I.G. in Paris. “Michel Vaissaire and his team significantly increased sales and earnings over the past five years, and the team has driven DIAM to the forefront of the global POP market under his leadership. We have no doubt that the company will enjoy continued long-term success.”
© 2012 PEPD • Private Equity’s Leading News Magazine • 9-19-12
