USA – On May 16, the American distributor Halo Branded Solutions announced that it is being acquired by TPG Growth, a platform of global alternative investment company TPG. TPG is buying Halo from Audax Private Equity, who acquired Halo in 2016. Financial terms of the deal, which is expected to close in the second quarter, were not disclosed.
“At Halo, we strive to provide our clients with innovative, customized solutions that showcase their brand and values,” Marc Simon, Halo’s CEO, said. “TPG Growth is a hands-on partner that understands our business and supports our vision. We look forward to leveraging their growth and business-building expertise as we continue to expand and enhance operations.”
Shamik Patel of TPG Growth added: “In Halo, we saw the opportunity to acquire an industry-leading platform that’s supported by best-in-class leadership and sales teams. Halo is well-positioned to capitalize on its leading position in a fragmented market, and we are excited to partner with Marc and the rest of the Halo team to accelerate the company’s growth, both organically and through acquisitions.”
The American promotional industry magazine Counselor ranks Halo Branded Solutions as the fifth largest American promotional products agency after the company reported 2016 North American promotional products sales of 282.3 mil. US-Dollars (239.4 mil. Euro).