HIG Capital’s Brazilian affiliate has acquired a majority stake in Eletromidia, one of the largest players in the out-of-home advertising industry.
The two founders will retain a significant ownership and will continue in their positions of leading the company.
Founded in 1993, Eletromidia reaches over six million people daily with advertising solutions. The company manages urban furniture, digital outdoor displays and indoor networks across 18 cities.
“HIG’s investment will enable Eletromidia to participate in larger projects and fuel our organic expansion plans. Through this partnership, we are confident that we will improve the reach and depth of our advertising network, adding more value to our clients,” says Paulo Badra, chief executive and one of the founders of the company.
Fernando Marques Oliveira (pictured), managing director and head of HIG Brasil and HIG Latin America, says: “Eletromidia is a unique asset with a spectacular team and growth prospects. We are excited to support management in Eletromidia’s next expansion phase, developing new advertising solutions and positively impacting the entire industry.”
