H.I.G. WhiteHorse Provides Financing to Avalon

H.I.G. WhiteHorse, a credit affiliate of global investment firm H.I.G. Capital ("H.I.G.") is pleased to announce that it has arranged a £55 million unitranche financing package for AnaCap Financial Partners (“AnaCap”) in support of its sector growth and consolidation strategy in the UK wealth management platform industry. To date, AnaCap, a leading specialist European financial services private equity firm, has completed three platform acquisitions as part of its buy and build strategy: Wealthtime, Amber Financial Investments (“Amber”), and Novia Financial (“Novia”), together “Avalon” or the “Combined Group.”

Across the three investments, AnaCap has now acquired almost £11.0 billion AuA and will continue to deploy its expertise in tech-enabled businesses and operational engagement to bolster the business’ organic expansion and identify attractive bolt-on acquisition opportunities.

Eric Verret, Head of Capital Markets at AnaCap, said: “Being able to secure financing through H.I.G. WhiteHorse enabled us to actively pursue our strategy in the UK wealth management space whilst providing us with the comfort of working with a knowledgeable, professional and sophisticated counterparty. We thank H.I.G. for working with us on this transaction.”

Keith Green, H.I.G. WhiteHorse Principal, said: “We are delighted to support AnaCap in its acquisitions and integration of leading wealth management platforms, with the Combined Group now ideally positioned for the opportunities ahead. This transaction highlights H.I.G.’s ability to support an early stage, attractive buy and build strategy in a fragmented market. We look forward to providing additional financial support as the combined group moves through its next phase of growth.”

About H.I.G. Capital

H.I.G. is a leading global alternative assets investment firm with $45 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:

1. 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.
2. 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.
3. H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.
4. H.I.G. Infrastructure focuses on making value-add and core plus investments in the infrastructure sector.

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 www.higcapital.com.

* Based on total capital commitments managed by H.I.G. Capital and affiliates.

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Contact information

Pascal Meysson
Head of H.I.G. WhiteHorse Europe
pmeysson@higcapital.com

Keith Green
Principal
kgreen@higcapital.com