H.I.G. Capital opens Milan office, appoints managing director

H.I.G. Capital has opened a Milan office and named Raffaele Legnani as managing director to lead the firm’s efforts in Italy. H.I.G. Europe has a team of more than 50 investment professionals based in Europe operating out of offices in London, Hamburg, Madrid and Paris. Legnani was previously a founding partner of Atlantis Partners in Milan.

Press Release

H.I.G. Capital, a leading global private equity firm with more than $13 billion of equity capital under management, announced today that it has opened a Milan office and appointed Raffaele Legnani as a Managing Director to lead its efforts in Italy.

H.I.G., through its H.I.G. Europe affiliate, currently has a team of over 50 investment professionals based in Europe, operating out of offices in London, Hamburg, Madrid and Paris. H.I.G. Europe is one of the most active private equity investors in Europe, having completed 28 investments since it began investing in 2008. In July 2013, H.I.G. Capital successfully closed H.I.G. European Capital Partners II at €825 million ($1.1 billion), significantly above its initial target. The fund will follow the strategy of its predecessor fund, focusing on buyout and growth capital investments in middle-market companies primarily in Western Europe.

Mr. Legnani was previously founding partner of Atlantis Partners in Milan, the leading independent institutional investment firm focused on Italian mid-size companies in Special Situations. Before that, Mr. Legnani has successfully invested in a significant number of buyout transactions, both directly and through specialized private equity funds (the London based Stellican and the US based Wexford Management) serving as operating board member for several portfolio companies. Previously, he worked in investment banking for Goldman Sachs in London.

In commenting on his appointment, Mr. Legnani stated, “I am very excited to join the H.I.G. team. H.I.G. is ideally positioned to successfully invest in Italy, given the significant amount of capital at its disposal and its experience in working with both growth companies and businesses facing operational and/or financial challenges. Focusing on midsize companies with a turnover above €50 million, H.I.G. targets the backbone of the Italian economy.” Mr. Legnani also added that he expects H.I.G. to be flexible in its approach in Italy, providing both debt and equity capital and investing in either majority or minority stakes in promising Italian businesses with a strong and sustainable competitive position. He also expects H.I.G. to assist Italian companies to capitalize on international growth and expansion opportunities, given its global presence and its wide team of international experienced professionals.

Sami Mnaymneh, co-founder and Managing Partner of H.I.G., added, “I am delighted to welcome Raffaele to the firm. Few in the Italian market can match his deep knowledge, investment experience and professionalism. I believe the market opportunity in Italy is a perfect fit with H.I.G.’s capabilities and, under Raffaele’s leadership, we hope to be a very active investor in Italy. There are many attractive businesses and talented managers in Italy and, despite short term challenges, we have every confidence that, in the long run, the Italian economy will recover and get back on a growth path.” Mr. Mnaymneh noted that H.I.G. Europe is already looking at several potential investments in Italy.

About H.I.G. Capital

H.I.G. is a leading global private equity investment firm with more than $13 billion of equity capital under management. Based in Miami, and with offices in Atlanta, Boston, Chicago, Dallas, New York, and San Francisco in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, and Rio de Janeiro, H.I.G. specializes in providing capital to small and medium-sized companies with attractive growth potential. H.I.G. invests in management-led buyouts and recapitalizations of profitable and well managed manufacturing or service businesses. Since its founding in 1993, H.I.G. has invested in and managed more than 200 companies worldwide. The firm’s current portfolio includes more than 80 companies with combined sales in excess of $30 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.

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