HIG Growth Partners sells Scuf Gaming
HIG Growth Partners (HIG), the dedicated growth capital investment affiliate of HIG Capital, has completed the sale of its portfolio company, Scuf Gaming (SCUF) to Corsair Components, Inc.
SCUF is a designer, manufacturer, and e-commerce platform for sales of advanced feature, customised gaming controllers and accessories for use on PlayStation, Xbox and PC.
Headquartered outside Atlanta, Georgia, SCUF created the high-performance, customized console controller category by challenging and redefining the way gamers use their hands. Inventing many features to increase hand-use, improve controller ergonomics and enhance performance, SCUF is about improving the user experience. Since its founding in 2011, SCUF has brought numerous innovations to the gaming and esports market and has 103 patents with another 55 pending. The Company’s controllers and accessories are best-in-class, with 90 per cent of professional gamers using SCUF products in major console esports tournaments, which has helped SCUF build a tremendous social following.
HIG recapitalised SCUF in December of 2016 in partnership with Duncan Ironmonger, SCUF’s founder and CEO. During HIG’s investment period, SCUF experienced significant growth and expanded its leadership position in the esports and casual gaming controller market. HIG was able to help support the business’ trajectory through further investment in SCUF’s management team and organisation, re-platforming e-commerce operations, optimising digital marketing initiatives, and advising on the expansion of the SCUF product portfolio.
“We are proud of the successful partnership we were able to establish with SCUF including the active role HIG played in supporting SCUF’s organic growth initiatives,” says HIG Growth Partners Managing Director John Kim.
“SCUF’s strong growth during our investment period helped drive an outstanding outcome for all shareholders, and we are confident that the Company will continue to enjoy long-term success,” adds HIG Growth Partners Managing Director Evan Karp.
“In late 2016, SCUF went through a rigorous process to select the right strategic private equity partner. Three years later, I can happily say that our decision to partner with HIG Growth Partners was the right decision. From the outset, Evan, John, and the rest of the HIG team helped us grow and mature SCUF in a meaningful way by not only investing in the business, but also advising on aspects of operations, finance, and strategy. Their experience proved a great sounding board for me and my management team, and I am grateful for the experiences and successes we shared,” says Duncan Ironmonger.
HIG continues to target high-growth investments in the consumer and technology sectors. In 2019, HIG completed investments in MX Technologies, a leading data platform for banks, credit unions and fintech companies; Passport Labs, a mobility management platform; and Invoca, an AI-powered call tracking and analytics platform.