H.I.G. Capital LLC said Tuesday it has invested in Milestone Technologies Inc. Financial terms weren’t announced. Fremont, California-based Milestone provides managed information technology services to global corporations.
SAN FRANCISCO–(BUSINESS WIRE)–H.I.G. Capital, LLC (“H.I.G.”), a leading global private equity investment firm with $19 billion of equity capital under management, is pleased to announce that its affiliate has made a strategic investment in Milestone Technologies, Inc. (“Milestone”, or the “Company”). Founded in 1997, and headquartered in Fremont, CA, Milestone is a leading provider of managed information technology services to rapidly-growing, global enterprises.
H.I.G. has partnered with Milestone Founder and CEO, Prem Chand, to continue to deliver differentiated, world-class IT services to Milestone’s customers and to enable the Company’s continued expansion.
Founder and CEO, Prem Chand said, “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.”
Elliot Maluth, Managing Director at H.I.G. Capital, commented, “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.”
About Milestone Technologies, Inc.
Founded in 1997, Milestone Technologies is a leading provider of solutions to the strategic IT needs of large global corporations. Milestone’s solutions include managed help desk, data center operations, managed contact center, and IT logistics. Milestone recently announced the arrival of its Platform Engineering Services: a comprehensive set of Milestone branded IT solutions that enable companies to optimize their networks’ performance. Key among Milestone’s Platform Engineering Services is its Network Operations Center (NOC), an intelligent cloud-based ITSM platform that eliminates identification delays and speeds resolution. Milestone helps its clients – currently 200 companies in 18 countries – create and operate their critical IT infrastructures. More information about Milestone and its services can be viewed online www.milestonepowered.com.
About H.I.G. Capital
H.I.G. is a leading global private equity and alternative assets investment firm with $19 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, San Francisco, and Atlanta 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 both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused approach:
1. H.I.G.’s equity funds invest in management buyouts, recapitalizations and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
2. H.I.G.’s debt funds invest in senior, unitranche and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. is also a leading CLO manager, through its WhiteHorse family of vehicles, and manages a publicly traded BDC, WhiteHorse Finance.
3. Other H.I.G. funds invest in various real assets, including real estate and shipping.
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 100 companies with combined sales in excess of $30 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.
* Based on total capital commitments to funds managed by H.I.G. Capital and its affiliates.