Jul 07 2010
Edgeview Partners is pleased to announce Harvest Partners, a private equity firm based in New York, has completed a significant investment in Insight Global, Inc., a leading information technology (IT) staffing solutions provider.
Details of the transaction, which closed on Wednesday, June 30, were not disclosed.
Insight Global, based in Atlanta, Georgia, is one of the fastest growing providers of IT staffing solutions in North America with nearly $350 million in annual sales. Insight Global operates a nationwide network of 21 regional offices, providing exceptional staffing solutions and customer service to more than 1,500 customers. Insight Global fills nearly 10,000 IT staffing placements each year for a diverse range of Fortune 1000 corporations in end markets such as technology, healthcare, energy, telecom, financial services and government. It was formerly a portfolio company of Miami-based H.I.G. Capital, which retained Edgeview Partners to serve as lead financial advisor to the company.
“Edgeview’s professionals paired perfectly with Insight Global’s dynamic management team. Edgeview and Insight Global have each built exceptional businesses by capitalizing on differentiated processes to drive superior client service. We could not have asked for better chemistry or for a better outcome,” commented Michael Phillips, a Managing Director of H.I.G. Capital.
Glenn Johnson, Chairman of Insight Global, stated, “We appreciated Edgeview’s honest and straightforward advice from the very start. The Edgeview team did a tremendous job telling our story to the marketplace and preparing us for the rigors of the process. Without a doubt, Edgeview was instrumental in helping us achieve a great outcome for H.I.G. while finding the ideal new partner for our business.”
H.I.G. Capital (www.higcapital.com) 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 San Francisco, Atlanta, Boston, and New York 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 service or manufacturing businesses. H.I.G. also has extensive experience with financial restructurings and operational turnarounds. Since its founding in 1993, H.I.G. has invested in and managed more than 200 companies worldwide. The firm’s current portfolio includes companies with combined revenues in excess of $8 billion.
Founded in 1981, Harvest Partners (www.harvpart.com) is a New York-based private equity investment firm, pursuing growth financings and management buyouts. Focused on manufacturing, energy, specialty services and consumer businesses, Harvest Partners has over 25 years of experience investing in domestic and multinational companies.
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