The investment by HIG
will help the company take part in larger projects, increasing the reach and depth of its advertising network, Eletromidiaa[euro](tm)s CEO and co-founder Paulo Badra said in a comment.
According to the firm, the fund will continue HIG
Capital's successful investment strategy of focusing on private equity, buyout and equity-related investments in middle-market companies primarily in the United States.
The move, which was agreed in early October, will help VSA to further expand the business, Jaime Bergel, managing director of HIG
Europe in Spain, said.
Since joining HIG
, Rob has led investments in a number of industries including technology, healthcare, business services and manufacturing, and is currently serving on the board of directors of several HIG
, through its HIG
Europe affiliate, said it currently has a team of over 50 investment professionals based in Europe, operating out of offices in London, Hamburg, Madrid and Paris.
Europe took control of the Paris-headquartered company in 2007.
Total capital commitments to the fund exceeded its USD 1bn target, HIG
Silva said he believes that HIG
Capital will be able to speed up Cel Lepa[euro](tm)s expansion and to maintain its top quality status.
According to HIG
, the fund will continue the strategy of the firm's four predecessor funds, focusing on private equity, buyout and equity-related investments in lower middle-market companies primarily in the United States.
Europe bought the US and Belgian companies from bag-in-box packaging specialist Scholle Corp and investor Ackermans & van Haaren NV (EBR:ACKB), respectively.
Recently, the business went through a number of transformations, particularly concerning its high value added products development, HIG
The transaction represents the first acquisition for HIG
Growtha[euro](tm)s newly-created portfolio firm Community Intervention Services Inc (CIS).