H.I.G. Capital has sold AVI-SPL to Marlin Equity Partners. In conjunction with the transaction, AVI will be merged with Whitlock, a Marlin affiliate focused on workplace collaboration solutions. H.I.G. will retain a minority stake in the newly combined company. No financial terms were disclosed. Based in Tampa, Florida, AVI-SPL is a provider of collaboration solutions and services.
MIAMI–(BUSINESS WIRE)–H.I.G. Capital (“H.I.G.”), a leading global private equity investment firm with $37 billion of equity capital under management, is pleased to announce the sale of its portfolio company, AVI-SPL (“AVI” or the “Company”), to Marlin Equity Partners (“Marlin”). In conjunction with the transaction, AVI will be merged with Whitlock, an affiliate of Marlin focused on workplace collaboration solutions, resulting in $1.3 billion of pro forma 2019 revenue. H.I.G. will retain a minority stake in the combined entity.
AVI-SPL, based in Tampa, Florida, delivers industry leading collaboration solutions and services, enabling customers to leverage technology to transform the way employees and customers interact. Through its 51 offices and global partnerships, AVI-SPL is chosen by large enterprises and SMEs to design engineer, integrate and support their communication and collaboration environments.
H.I.G. acquired AVI-SPL in April 2016, and subsequently completed five strategic acquisitions, which expanded the Company’s geographic scale and service capabilities. During H.I.G.’s ownership, the Company made significant investments in management, service offerings, sales & marketing and proprietary software, positioning the Company for future success in the workplace collaboration market that has become a core part of recurring IT spend.
John Zettel, AVI’s CEO, said, “This is a very exciting new chapter for our Company and a strong endorsement for AVI-SPL and our highly talented team. We appreciate H.I.G.’s value-added leadership and investment in our organization, which laid the groundwork for the exciting growth opportunities ahead.”
Ricky Stokes, Managing Director at H.I.G. Capital, commented, “We have established a terrific relationship with the AVI-SPL management team and are proud of the accomplishments made to position the Company for continued success. AVI-SPL has never been stronger and the combination with Marlin and Whitlock is an exciting new chapter for the Company.” Todd Ofenloch, Managing Director at H.I.G. Capital added, “AVI’s management consistently executed all of the strategic and tactical goals we collectively set forth. It has been incredibly satisfying to witness the Company realize its full potential and to have the team’s efforts recognized through the success of this transaction.”
AVI-SPL is the leading digital workplace collaboration solutions provider, allowing enterprises to leverage technology to transform the way global employees and customers interact to drive increased workplace efficiency and improved business outcomes. AVI-SPL has highly trained and certified system engineers in offices throughout the United States, Canada, and EMEA in addition to an international network of solution providers in 30 countries. Visit www.avispl.com for more information.
About H.I.G. Capital
H.I.G. is a leading global private equity and alternative assets investment firm with $37 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro and São Paulo, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/ value-added approach. For more information, please refer to the H.I.G. website at www.higcapital.com.
* Based on total capital commitments managed by H.I.G. Capital and affiliates.