HIG Capital LLC acquires the UK’s Aircom International Group from buyout firm Advent International Corp

US based HIG Capital LLC has bought the UK based mobile phone services provider Aircom International Group.  HIG buys the firm from its buyout owner Advent International Corp. The transaction was for an undisclosed amount.

In a statement regarding the investment, HIG said Barclays Plc and HSBC Holdings Plc provided a joint debt package to Aircom, which has customers in 135 countries, HIG said in a statement today.

However, the Sunday Times reported about 100 million pounds was paid for Aircom, without divulging more information. According to HIG, Aircom may have sales of more than 90 million pounds in the year through June 2011. Aircom is behind the success of companies such as Vodafone, KPN NV in network coverage and quality. Aircom has been key in enabling them improve their network coverage and quality.

HIG’s Europe unit managing director, Paul Canning said in a statement the firm is keen on supporting the management and believes it will be able to bring on board added firepower and support for Aircom’s ambitious growth strategy.  Advent International, located in Boston, invested in Aircom in October 2005, according to its website.

HIG, which has more than 6 billion pounds of equity capital under management, said it expects to make further transaction announcements in the next few months.

H.I.G. Capital is an alternative investment firm that operates a family of private equity and venture capital funds as well as distressed debt and public equity hedge funds. The firm’s roots trace back to middle-market leveraged buyouts, management buyouts, leveraged recapitalizations, and growth capital investments.

The firm was founded in 1993 and is headquartered in Miami, Florida with offices in Atlanta, Boston, San Francisco in the U.S., and since fall 2007 London, Paris, and Hamburg in Europe. Today the firm operates in several related sectors in private equity and alternative investments.

H.I.G. Capital – Private Equity – is a $3.5 billion platform focusing on leveraged buyouts, management buyouts and leveraged recapitalizations of established and profitable manufacturing and service companies as well as growth capital investments in less mature companies.

Advent International is a global private equity firm focused on buyouts of middle market growth companies in Western and Central Europe, North America, Latin America and Asia. The firm focuses on international buyouts, strategic restructuring opportunities and growth buyouts in five core sectors. Advent operates from offices in 17 countries, with affiliates in a further eight countries and employs over 160 investment professionals.

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