BIC Group To Sell BIC Graphic North America
BIC Graphic North America (PPAI 114187) has announced that its parent company, BIC Group, has signed an asset and share purchase agreement to sell its North American promotional products division and Asian Sourcing division to an affiliate of H.I.G. Capital, a global U.S. private equity firm.
“We are excited about partnering with H.I.G. for the next stage of our growth,” says Emmanuel Bruno, vice president/general manager of BIC Graphic North America. “We believe that they are the right partners to support our strategy and invest in our future.”
H.I.G. Capital is a global private equity investment firm with $21 billion of equity capital under management. H.I.G. focuses on investing in companies with leadership positions in attractive markets. Since its founding in 1993, H.I.G. has invested in more than 200 companies worldwide, including successful investments in the promotional products sector. The firm also has extensive experience investing in divisions of public companies, supporting their successful transition to private ownership.
“We are very excited to partner with the BGNA team,” says Camilo E. Horvilleur, managing director at H.I.G. “We believe BGNA is a differentiated leader in a consolidating market due to its compelling customer value proposition. We see tremendous opportunities in the business and are excited to support their growth as they continue to broaden and deepen their customer relationships.”
BIC Graphic’s management team will continue to run the business and its customers and suppliers can expect the same high levels of quality and service from the company with increased support for innovation and strategic growth initiatives. The closing is expected by June 30.
Watch for more details in an upcoming issue of PPB Newslink.