H.I.G. Capital, LLC (“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 Eletromidia S.A. (“Eletromidia“) has completed the acquisition of Elemidia S.A. (“Elemidia” or the “Company”), creating the leading player in the fast-growing Brazilian out-of-home (“OOH”) advertising market.
Headquartered in São Paulo, Elemidia is the pioneer of OOH advertising in commercial and residential buildings in Brazil with a 100% digital portfolio of over 20,000 panels around the country. It has a track-record of consistent double-digit growth driven by entrance in new segments and recurring revenues from a diversified base of blue chip agencies and advertisers. Prior to the Eletromidia acquisition, Elemidia was a portfolio company of the private equity fund Victoria Capital Partners.
Combined, Eletromidia and Elemidia have the broadest network of OOH advertising assets in Brazil, with panels in transportation, airports, consumer spaces, streets, residential and commercial buildings. Together, they also have the largest and most digitalized portfolio in the country, with over 50,000 installed panels, 70% of which are digital – allowing their clients to pursue more creative and tech-oriented campaigns.
Fernando Marques Oliveira, H.I.G. Managing Director and head of Brazil and Latin America, said: “We are very pleased to announce the acquisition of Elemidia by Eletromidia. Elemidia’s management and former shareholders have done a terrific job in developing the Company. We believe Eletromidia and Elemidia are highly complementary and expect that their convergence will create a unique player, well-positioned to benefit from the positive trends of the out-of-home market in Brazil and Latin America.”
“We are very excited to partner with H.I.G. and Eletromidia to create the new leader in the Brazilian OOH market and to support an ambitious growth strategy for the coming years,” said Eduardo Alvarenga, CEO of Elemidia. Daniel Simões, CEO of Eletromidia added, “We welcome Elemidia management and team and we are looking forward to working with them to deliver high quality and innovative services to our clients though a much broader portfolio.”
Founded in 2003, Elemidia is the 3rd largest player of the OOH industry in Brazil. With a tech-oriented strategy and more than 20,000 panels in operation, the company is the leader in three of the most relevant segments of the OOH industry: shopping malls, commercial buildings and residential buildings. For more information, please refer to the Elemidia website at https://elemidia.com.br/
Founded in 1993, Eletromidia is one of the leading out-of-home advertising players in Brazil. With operations in the transportation, airport, shopping malls and street furniture segments, the company is present in Brazil’s largest urban centers, reaching over 16 million people daily. The company is also a leader in the number of panels in the country, with more than 35,000 in operation. For more information, please refer to the Eletromidia website at www.eletromidia.com.br
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, Rio de Janeiro, São Paulo and Bogotá, 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.
H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.
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. For more information, please refer to the H.I.G. website at www.higcapital.com.
* Based on total capital commitments managed by H.I.G. Capital and affiliates.