William Blair acted as financial advisor to Milestone Technologies (MTI), a portfolio company of H.I.G. Capital, in connection with its recapitalization led by The Halifax Group (THG). The current senior executive team, the selling shareholders and Two Sigma Impact made minority investments in the transaction, which closed on December 7, 2022.
About the Companies
Milestone Technologies is a global IT services firm that partners with leading organizations to support their digital transformation strategies and to scale their IT capabilities. MTI provides best-of-breed solutions across Application Services, including digital product engineering and ServiceNow-oriented services, Digital Workplace Services, and Private Cloud Services. The Company primarily serves its clients through an end-to-end managed services model and maintains flexibility to leverage other delivery models to meet clients’ needs. MTI’s clients include some of the largest and fastest growing companies in the technology, healthcare, and consumer markets. MTI was founded in 1997 and is based in Fremont, CA.
H.I.G. Capital is a leading global private equity and alternative assets investment firm with more than $52 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. Capital specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused value-added approach. Since its founding in 1993, H.I.G. Capital has invested in and managed more than 300 companies worldwide. The firm’s current portfolio includes more than 100 companies with combined sales in excess of $30 billion.
The Halifax Group is a private equity firm that partners with managers and entrepreneurs to recapitalize and invest in middle-market businesses with total enterprise values generally between $100 million and $300 million. THG specializes in equity recapitalizations, corporate carve-outs, and management buyouts and invests across a variety of industries, including health and wellness, outsourced business services, and franchising. The firm is headquartered in Washington, D.C. and maintains an office in Raleigh, NC.
Two Sigma Impact is a business of Two Sigma. Its mission is to combine active, principled ownership and data science with the goal of achieving superior returns and positive social outcomes. The Two Sigma Impact team is focused on workforce impact where they anticipate innovative and thoughtful investments in humans will lead to an enhanced employee experience, productivity, and long-term financial returns. As part of Two Sigma, Two Sigma Impact has expertise in data science, technology, and a range of corporate specialties, and seeks to support its portfolio companies with those resources.
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