H.I.G. Europe, the European arm of buyout shop H.I.G. Capital, and its debt affiliate Bayside Capital have acquired UK-based Bezier, a provider of sales marketing services. Specific terms of the deal were not released. Miami-based H.I.G. Capital has more than $8.5 billion of equity capital under management.
H.I.G. Europe, the European arm of global private equity firm H.I.G. Capital, has announced that funds advised by H.I.G. European Capital Partners LLP and its debt affiliate, Bayside Capital, have acquired Bezier, the UK’s largest provider of integrated point of sale marketing services. The transaction was facilitated by the acquisition of Bezier’s senior debt with a face value of over GBP 70 million, and will see H.I.G. inject significant new capital into the business.
In the past several years, Bezier, with revenues of approximately GBP 100 million, has transformed itself from a traditional manufacturer of point of sale products to become a full service marketing agency with a track record of enhancing sales and saving its clients money. Its blue chip customer base includes Argos, Boots, Coca-Cola, Disney, Johnson & Johnson, Procter and Gamble, Reckitt Benckiser, Revlon and Unilever.
Paul Canning, M.D. of H.I.G. Europe, said, “We are delighted to be backing Bezier into the next stage of its development. Now that the business is operating with a strengthened balance sheet and has additional capital for expansion, we look forward to working with management to help accelerate its growth.”
Trevor O’Reilly, CEO, said, “We have made significant progress over the past 18 months implementing a new and innovative strategy for the business that puts our clients at the centre of everything we do. The market is changing and we require a business model that allows Bezier to lead the way in taking advantage of new opportunities. It has been challenging to do this with the legacy of debt within the business but that constraint to growth has now been removed.
“We will continue to invest in the best talent, provide the widest range of market-leading services and solutions to our clients, and pursue selective acquisitions. This transaction is great news for our clients and great news for our people.”
Bezier represents over 60 brands and retailers covering all sectors and provides expertise across research, shopper marketing, campaign creative, permanent and tactical Point of Sale design, campaign measurement, digital, manufacturing and fulfilment. The company is forecasting a turnover in excess of GBP 80m for FY12. Bezier employs 800 people and operates from 6 sites across the UK and Ireland.
About H.I.G. Capital
H.I.G. Capital is a leading global private equity investment firm with more than $8.5 billion of equity capital under management. Based in Miami, and with offices in Atlanta, Boston, New York, and San Francisco in the U.S., as well as affiliate offices in London, Hamburg and Paris in Europe, 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. H.I.G. also has extensive experience with financial restructurings and operational turnarounds. Since its founding in 1993, H.I.G. invested in and managed more than 200 companies worldwide. The firm’s current portfolio includes more than 50 companies with combined revenues in excess of $8 billion.