HIG Capital (HIG) has sold its portfolio company, AVI-SPL (AVI) to Marlin Equity Partners (Marlin). In conjunction with the transaction, AVI will be merged with Whitlock, an affiliate of Marlin focused on workplace collaboration solutions, resulting in USD1.3 billion of pro forma 2019 revenue. HIG will retain a minority stake in the combined entity.
AVI-SPL, based in Tampa, Florida, delivers industry leading collaboration solutions and services, enabling customers to leverage technology to transform the way employees and customers interact. Through its 51 offices and global partnerships, AVI-SPL is chosen by large enterprises and SMEs to design engineer, integrate and support their communication and collaboration environments.
HIG acquired AVI-SPL in April 2016, and subsequently completed five strategic acquisitions, which expanded the Company’s geographic scale and service capabilities. During HIG’s ownership, the Company made significant investments in management, service offerings, sales & marketing and proprietary software, positioning the Company for future success in the workplace collaboration market that has become a core part of recurring IT spend.
John Zettel, AVI’s CEO, says: “This is a very exciting new chapter for our Company and a strong endorsement for AVI-SPL and our highly talented team. We appreciate HIG’s value-added leadership and investment in our organisation, which laid the groundwork for the exciting growth opportunities ahead.”
Ricky Stokes, Managing Director at HIG Capital, says: “We have established a terrific relationship with the AVI-SPL management team and are proud of the accomplishments made to position the Company for continued success. AVI-SPL has never been stronger and the combination with Marlin and Whitlock is an exciting new chapter for the Company.”
Todd Ofenloch, Managing Director at HIG Capital, adds: “AVI’s management consistently executed all of the strategic and tactical goals we collectively set forth. It has been incredibly satisfying to witness the Company realise its full potential and to have the team’s efforts recognised through the success of this transaction.”