Tim Armstrong has joined H.I.G. Capital as a managing director. He previously was with Apax Partners, where he had focused on opportunities in the retail and consumer sectors.
H.I.G. Capital, a leading, global private equity investment firm, announced today the appointment of Timothy B. Armstrong as a Managing Director. Mr. Armstrong joins H.I.G. after leading a number of successful private equity investments in a range of industries, including retail, apparel, consumer products, restaurants and business services. Mr. Armstrong will be focused on helping to develop H.I.G.’s new larger middle market practice and helping to invest the $1.5 billion H.I.G. Middle Market Fund. Prior to joining H.I.G., Mr. Armstrong was a partner at Apax Partners, a leading global private equity firm with more than $35 billion under management, where he had been responsible for retail and consumer investing.
Mr. Armstrong brings 12 years of private equity experience to the team at H.I.G., including a successful track record of investment strategy, transaction planning and execution, and company and investment management. He began his private equity career in 1996 when he joined Saunders Karp & Megrue, and he spent the subsequent ten years investing in the middle market. In 2005, Saunders Karp & Megrue merged with Apax Partners where Mr. Armstrong continued as a partner in its Retail and Consumer industry group. Mr. Armstrong received his undergraduate degree from Yale University.
In June of 2008, H.I.G. Middle Market Fund closed on an inaugural $1.5 billion fund focused on investments in middle market companies where H.I.G. is uniquely qualified to understand, evaluate and capitalize on the opportunity. The Middle Market Fund will focus on investment opportunities ranging from $150 million to $750 million of enterprise value. Similar to H.I.G.’s other buyout investment funds, the new Middle Market Fund has a broad investment mandate spanning all industries. During the course of an investment, H.I.G. will seek to deploy its operating resources to be a value-added partner and to help make significant improvements in the performance and profitability of its companies.
Commenting on Mr. Armstrong’s appointment, Tony Tamer, co-founder and Managing Partner of H.I.G., noted: “Tim brings solid private equity investing experience, having invested in the middle market for over a decade. We are excited to have him join the partnership and know that he will prove invaluable to our efforts investing H.I.G.’s Middle Market Fund and in building the team.”
About H.I.G. Capital:
H.I.G. Capital is a leading global private equity investment firm with more than $7.5 billion of equity capital under management. Based in Miami, and with offices in Atlanta, Boston, 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, H.I.G. invested in and managed more than 200 companies worldwide. The firm’s current portfolio includes companies with combined revenues in excess of $7 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.