H.I.G. Capital has sold Total Automated Solutions, Inc. to Industrial Growth Partners
H.I.G. Capital announced the closing of the sale of Total Automated Solutions, Inc. (“TASI”) to Industrial Growth Partners (“IGP”). The terms of this transaction were not disclosed.
TASI is a leading manufacturer in the test, measurement, and assembly industry. TASI’s market leading products include industrial leak and function test equipment and automated assembly solutions. TASI’s major end markets include automotive, medical, electronics, consumer products, and many others. TASI has a strong national presence with five operating divisions across the Midwest and Southeast, as well as sales and service locations worldwide.
Fred McCoy, TASI’s CEO commented: “We are excited at the opportunity to work with IGP in continuing the development of our technologies and expanding the distribution of our products into new markets.”
Commenting on the transaction, John Black, Managing Director of H.I.G. Capital stated: “Lincoln’s execution and steadfast dedication to TASI on behalf of H.I.G. were invaluable. Their commitment and knowledge of the business were instrumental to a successful transaction.”
About H.I.G. Capital
H.I.G. Capital is a leading private equity and venture capital investment firm with more than $1 billion of equity capital under management. Based in Miami, Florida, and with offices in Atlanta, Boston, and San Francisco, H.I.G. specializes in providing capital and operational resources to lower middle-market companies with attractive growth potential that can benefit from H.I.G.’s substantial operational resources. H.I.G. invests in management-led buyouts and recapitalizations of well-established, profitable, and well-managed manufacturing or service businesses, and in promising early stage technology companies. Since its founding, H.I.G. has completed more than fifty platform investments and more than 125 total transactions.
IGP is a $400 million private equity firm which provides equity capital to privately held, lower-middle market manufacturing and manufacturing services companies. IGP is one of very few investment firms in the U.S. that focus exclusively on the manufacturing sector. The firm invests equity in a wide range of transactions involving a change of ownership, such as management buyouts, leveraged buyouts, corporate divestitures, recapitalizations and management buy-ins. The firm also provides growth capital to privately held companies that require capital in order to expand their businesses.
Lincoln Partners acted as the exclusive representative of TASI, assisting in the negotiations and acting as financial advisor in connection with this transaction.
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