H.I.G. Capital, a private equity investment firm, has completed a control investment in First Capital via one of its affiliates.
H.I.G. was joined by funds advised by Morgan Stanley Alternative Investment Partners and funds advised by JP Morgan Asset Management.
Founded in 2003 and headquartered in Boca Raton, Florida, First Capital is a commercial finance company providing asset based lending and factoring to small and mid-sized companies.
The investment will primarily be used to fund asset growth of the company.
“First Capital has a proven business model from loan origination and underwriting, through to exceptional loan servicing processes and systems,” says Brian Schwartz (pictured), executive managing director of H.I.G. Capital. “The company is well positioned to capitalize on a unique market growth opportunity. We are pleased to have the opportunity to work with John Kiefer, Lee Wilson, and their outstanding management team.”
“The equity infusion from H.I.G. affirms our business model and makes us stronger than ever and, most importantly, gives us the resources to increase lending,” says John W. Kiefer, chairman of First Capital.
With assets just under USD1bn, First Capital is one of the largest independent and fastest-growing commercial finance companies in the US. It differentiates itself from larger finance company and bank competitors through certainty of timely funding.
