The services provided by Milestone Technologies range from design and construction, to the operation of the IT infrastructure and can include advisor services, customization, and turn-key offerings. The company presently has 200 customers located in 18 countries. Milestone was founded in 1997 by president and CEO Prem Chand and is headquartered southeast of San Francisco in Fremont, CA (www.milestonepowered.com).
“We are very excited about this partnership with H.I.G. and the shared vision we have for the next stage of Milestone’s growth. H.I.G.’s investment will provide us the capital and strategic resources necessary to grow Milestone and better serve our customers,” said Mr. Chand.
Elliot Maluth, Managing Director, led the transaction for H.I.G. “We are excited to partner with Prem and the entire Milestone team to continue the company’s strong growth trajectory. We look forward to working together to expand Milestone’s suite of services and continuing to provide best-in-class solutions to Milestone’s customers.”
Financing for this transaction was provided by Monroe Capital as the sole lead arranger and administrative agent on a $42.5 million unitranche credit facility. Monroe provides senior and junior debt and makes equity co-investments in middle-market companies. The firm was founded in 2004 and is headquartered in Chicago (www.monroecap.com).
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. H.I.G. Capital has more than $17 billion of capital under management. The firm was founded in 1993 and is based in Miami with additional offices in Atlanta, Boston, Chicago, Dallas, New York, San Francisco, London, Hamburg, Madrid, Milan, Paris, and Rio de Janeiro (www.higcapital.com).
© 2015 PEPD • Private Equity’s Leading News Magazine • 8-12-15