HIG Capital earned a greater than 10x cash-on-cash multiple with the sale of Infogix Inc, a source said.
Thoma Bravo announced Tuesday it acquired Infogix, a Naperville, Illinois-based provider of data analytics to Fortune 1000 companies. Financial terms were not disclosed.
HIG invested in Infogix from its fourth buyout fund, which closed at $750 million in 2006. As of last March, HIG Capital Partners IV had generated a 42.2 percent net IRR and a 2.62x investment multiple, according to the University of California Regents, an investor in the fund.
HIG bought Infogix in June 2012 through a recapitalization. The private equity firm provides both debt and equity to small and mid-sized companies.
Miami-based HIG has been very active on the deal front. In December, it sold its investment in Lancope Inc and also exited Big Tex. HIG in December also completed purchasess of Mr Cat, Constructive Media, DMS Publicidade Mídia Interativa Ltda and On The Spot Soluções Digitais Do Brasil Ltda.
Thoma Bravo, meanwhile, is currently seeking around $7 billion for its latest buyout fund, Reuters reported in November. The firm finalized the fundraising target for its latest buyout fund, dubbed Fund XII, in October, and has been marketing it to its investors, the story said. The $7 billion target of Fund XII is almost double the size of its previous fund, which raised $3.7 billion in May 2014.
Executives for Thoma Bravo declined comment.
Action Item: HIG can be reached at 305-379-2322. Learn more about Infogix here: www.infogix.com.
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