H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with over $43 billion of equity capital under management, is pleased to announce that an affiliate has signed a definitive agreement to acquire Hibu Group (USA), Inc. (“Hibu” or the “Company”), a leading provider of digital marketing services to small and medium-sized businesses (“SMBs”) across the United States.
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“We are delighted to partner with Kevin and the Hibu team”
Headquartered in Cedar Rapids, Iowa, Hibu is a leading provider of digital marketing solutions to SMBs across the United States. The Company’s comprehensive suite of solutions includes search, social and display advertising, and search engine optimization (“SEO”), as well as custom website development, listings management, and reputation management. Hibu’s solutions provide a one-stop shop and allow its SMB customers to have a truly integrated digital marketing program to attract and retain customers and grow their businesses. Today, Hibu serves over 80,000 customers across a wide range of industries through a highly trained sales force with nationwide local coverage.
Kevin Jasper, Chief Executive Officer of Hibu commented, “The investment by H.I.G. is a recognition of all that the team has accomplished to date, and we are excited to partner with H.I.G. to support our next phase of growth. Hibu is committed to continuing to innovate and provide its local business customers with easier and more effective ways to execute their digital marketing strategies, build and enhance their online presence and reputation, and optimize digital ad spend.”
“We are delighted to partner with Kevin and the Hibu team,” said Matt Gullen, Managing Director at H.I.G. “We believe there is immense opportunity ahead for Hibu given its strong SMB value proposition, including a best-in-class integrated service offering, differentiated technology, and exceptional customer service. The Company has established itself as a leader in the industry, and we look forward to working with the team to build upon their success and support continued growth initiatives.”
The transaction is subject to customary closing conditions and completion of review under antitrust laws, including the Hart-Scott-Rodino Antitrust Improvements of 1976.
Houlihan Lokey acted as financial advisor and McDermott Will & Emery LLP provided legal advice to H.I.G. Moelis & Company acted as financial advisor and Cravath, Swaine & Moore LLP acted as legal counsel to the Company and Hibu Group Limited on the transaction
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