F – The French BIC group has sold its subsidiary, BIC Graphic North America and its Asian sourcing division to a branch of the private equity company, H.I.G. Capital. Financial details about the sale, which is to be completed by June 30, were not announced. According to the corresponding press release, the management team of BIC Graphic will continue to run the business. “We are excited about partnering with H.I.G. for the next stage of our growth,” said Emmanuel Bruno, General Manager of BIC Graphic North America. “We believe that they are the right partners to support our strategy and invest in our future.” Camilo E. Horvilleur, Managing Director at H.I.G. Capital, added: “We are very excited to partner with the BGNA team. 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.”
The investment society H.I.G. Capital that is based in Miami disposes of 21 bil. dollars (approx. 18 bil. Euros) of managed capital and specialises in investing in companies that hold leading positions in their respective core markets. The current portfolio encompasses companies from the production, consumer goods sectors as well as from the automobile industry, the media and the health sector.