World News: 11:00 GMT Tuesday 14th January 2020. [H.I.G. Capital via Businesswire via SPi World News]
H.I.G. Capital ("H.I.G."), a leading global private equity investment firm with over $35 billion of equity capital under management, is pleased to announce that its portfolio company, Circle Graphics, Inc. (“Circle Graphics”), has acquired the assets of Metromedia Technologies, Inc. (“MMT” or the “Company”).
MMT is a long-time leader in grand format visual solutions, having originated digital print technology that ushered in the age of high-quality digitally printed billboards. Before MMT’s technology, billboards were hand-painted, taking weeks or months to execute a large campaign. The Company’s long history of innovation complements Circle Graphics’ reputation for delivering cutting edge out-of-home visual solutions to the industry’s marquee billboard operators and advertisers.
Andrew Cousin, CEO of Circle Graphics, offered his rationale for the acquisition, stating, “We are excited to combine such an iconic company as MMT into our operations. We will benefit from MMT’s added capacity, expertise in areas such as wall graphics and transit, and an expanded roster of some of the best out-of-home customers in the world. We are in a competitive industry, and production volume is a key requirement that allows us to invest in continuous improvements in our factories, invest in product R&D, and bring our customers more sophisticated software solutions.”
“We are excited about the opportunity to deepen Circle Graphics’ leadership in the out-of-home visual solutions industry through the acquisition of such a well-known brand as MMT,” said Ryan Kaplan, Managing Director at H.I.G. “This transaction will allow Andrew and the Circle Graphics management team to incorporate best practices from both businesses across the organization to better serve our combined customer base going forward.”
About Circle Graphics
Founded in 2000, Circle Graphics produces best-in-class digital graphics for consumers, professionals, and businesses through two distinct divisions: Online Wall Décor and Out-of-Home Visual Solutions. The Company’s Online Wall Décor segment enables consumers and professional photographers to procure made-to-order photos and pre-designed art images via wholly-owned direct-to-consumer websites and market-leading reseller relationships. Circle Graphics’ Out-of-Home Visual Solutions segment represents the leading large-format digital graphics provider to billboard operators with a growing offering in branded business signage to small and medium-sized businesses. Based near Denver, CO, Circle Graphics employs approximately 600 people in multiple locations across the United States to efficiently serve the Company’s nationwide customer base. For more information, please visit.
About H.I.G. Capital
H.I.G. is a leading global private equity and alternative assets investment firm with over $35 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. 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. 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. For more information, please refer to the H.I.G. website at.
* Based on total capital commitments managed by H.I.G. Capital and affiliates.
Business Wire: 11:00 GMT Tuesday 14th January 2020
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