Intelius, an online provider of people-related information for consumers, has been acquired by H.I.G. Capital.
Intelius utilizes access to online databases and public record repositories to provide on-demand information about individuals and can identify connections to other people, places and things. Typical uses of Intelius are for people search, background checks, criminal record search, and reverse phone number look-up. Intelius has sold more than 50 million reports since its founding in 2003 by Naveen Jain. The company currently employs 63 people and is based in Bellevue, WA (www.intelius.com).
Upon closing of the acquisition on July 1, Prakash Kondepudi replaced Mr. Jain as the company’s CEO. For the past five years, Mr. Kondepudi has served as the president of Intelius.
“We view Intelius as a strong cash flow business with tremendous growth opportunities moving forward,” said H.I.G. Capital’s Managing Director Elliot Maluth. “We are excited to add them to our portfolio of companies.”
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 • 7-9-15
