H.I.G. European Capital Partners (“H.I.G.”), the European arm of global private equity firm H.I.G. Capital, announced the acquisition of Monal Group through its Spanish-based portfolio company Tres60 Servicios Audiovisuales (“Tres60”).
The acquisition, which will result in the creation of an entity generating sales of nearly 100 million euros, was successfully executed by the French and Spanish offices of H.I.G. Europe, supported by Monal Group’s management team and by its founding shareholder, Denis Auboyer.
Tres60, a leader in providing comprehensive technical services and equipment for audio-visual production, post-production and advertising, broadcasting television channels and live events, is a major player in the Spanish market. The Monal Group offers its customers recognized technical expertise in the areas of image, sound post-production, digital restoration, dubbing, sub-titling, broadcast and video and digital delivery. The Monal Group has an international presence through its Polish and Vietnamese subsidiaries and intends to pursue its international growth alongside Tres60.
The combination with Tres60 and the financial strength of its majority shareholder H.I.G. Europe will enable the creation of a European leader in post-production and digital distribution.
“The combination with Monal is a key milestone in the development plan drawn up by the Tres60 team. It will enable the Group to achieve geographic diversification within the No. 1 audio-visual market in continental Europe. Furthermore, it is part of a market consolidation strategy which we intend to actively pursue,” Jaime Bergel, Managing Director in charge of H.I.G. Spain, explained.
“This transaction showcases H.I.G.’s ability to take action across Europe. Leveraging its expertise in this sector and its five European offices in Paris, Madrid, London, Hamburg and Milan, H.I.G. Europe will be able to accelerate the international growth of the companies across its portfolio,” Olivier Boyadjian, Managing Director in charge of H.I.G. France, affirmed.
Tres60 is a Spanish company based in Madrid, covering the entire audio-visual value chain, including technical production, post-production and broadcasting services. Tres60 is owned by H.I.G. European Capital Partners and employs 548 people, generating consolidated sales of nearly €50 million in 2014.
About H.I.G. Capital
H.I.G. is a leading global private equity and alternative assets investment firm with more than $17 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris and Rio de Janeiro, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/ value-added approach:
- H.I.G.’s equity funds invest in management buyouts, recapitalizations and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
- H.I.G.’s debt funds invest in senior, unitranche and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. is also a leading CLO manager, through its WhiteHorse family of vehicles, and manages a publicly traded BDC, WhiteHorse Finance.
- Other H.I.G. funds invest in various real assets, including real estate and shipping.
Since its founding in 1993, H.I.G. has invested in and managed more than 200 companies worldwide. The firm's current portfolio includes more than 80 companies with combined sales in excess of $30 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.
* Based on total capital commitments to funds managed by H.I.G. Capital and its affiliates.