HGGC said April 2 that it completed an investment in American Megatrends International LLC. Financial terms weren’t announced. American Megatrends, of Norcross, Georgia, provides hardware, software and utilities to makes of desktop, server, mobile and embedded systems.
HGGC Makes Strategic Investment in American Megatrends, a Global Leader in Firmware Solutions
PALO ALTO, Calif.—April 2, 2019—HGGC, a leading middle market private equity firm, today announced that it has completed a strategic investment in American Megatrends International LLC (“AMI” or “the Company”), a global leader in BIOS and UEFI firmware, BMC and remote management tools, data storage products and unique solutions based on the Linux® and Android™ operating systems.
Founded in 1985 and headquartered in Norcross, Georgia with offices in eight countries, AMI provides customers with unrivaled firmware solutions. It is the world’s largest provider of out-of-band server management firmware, and UEFI and BIOS firmware, with its products deployed in a high proportion of all servers, datacenters, embedded devices, and personal computers worldwide. AMI’s industry-leading capabilities and customer support have allowed the company to sustain strong, long-term relationships with businesses across the computing ecosystem, including chip makers, hyperscale cloud service providers, ODMs and OEMs, as well as telecommunications providers.
“Not many people outside the system software ecosystem are familiar with AMI, but its products are mission critical for the biggest computing brands in the world,” said Steve Young, HGGC President and Co-Founder. “Subramonian Shankar has built an incredible business in AMI, and we could not be prouder that he chose to partner with us to take the company into the future.”
“Having founded and built this business over more than 30 years, it was important to find an investor who understands the business and who will be able to help unlock new value to keep it moving forward,” said Shankar, President, CEO & Founder of AMI. “HGGC not only has a tremendous track record growing technology businesses, but they also share our vision for building on past success and moving AMI to its next phase of growth. HGGC will be a great partner to our team.”
“AMI is perfectly situated in the system software ecosystem to deliver world-class products and services to its customers and to continue to lead a rapidly evolving industry in innovation,” said Bill Conrad, Principal of HGGC. “We are very excited to work with Shankar and the senior leadership of AMI to continue to grow the company by developing new products and solutions critical to their customers’ success.”
HGGC is a leading middle-market private equity firm with $4.3 billion in cumulative capital commitments. Based in Palo Alto, Calif., HGGC is distinguished by its “Advantaged Investing” approach that enables the firm to source and acquire scalable businesses at attractive multiples through partnerships with management teams, founders and sponsors who reinvest alongside HGGC, creating a strong alignment of interests. Over its history, HGGC has completed more than 100 platform investments, add-on acquisitions, recapitalizations and liquidity events with an aggregate transaction value of more than $17 billion. More information is available at www.hggc.com.
Founded in 1985 and known worldwide for AMIBIOS®, American Megatrends International LLC (AMI) supplies state-of-the-art hardware, software and utilities to top-tier manufacturers of desktop, server, mobile and embedded systems. AMI’s industry leading Aptio® V UEFI BIOS firmware, MegaRAC® remote server management tools and solutions based on the popular Android™ and Linux® operating systems continue to garner industry acclaim and awards around the world. In line with the diversity of its technology and product line, AMI is a member of a number of industry associations and standards groups, such as the Unified EFI Forum (UEFI), the Intel® Internet of Things Solutions Alliance and the Trusted Computing Group (TCG). Headquartered in Norcross, Georgia, AMI has locations in the U.S., China, Germany, India, Japan, Korea, Taiwan, and Hong Kong to better serve its customers. For more information on AMI, its products or services, call 1-800-U-BUY-AMI or visit ami.com