HIG Capital (HIG), a global alternative investment firm with $58bn of capital under management, has sold a portion of its stake in Eletromidia, a Brazil-based out-of-home (OOH) media company, to Latin American media conglomerate Grupo Globo (Globo).
HIG remains the largest shareholder in Eletromidia.
Since HIG’s acquisition, Eletromidia has expanded from a midsize OOH player in Brazil into several new segments, winning over 70 new contracts with site owners, digitalising its existing portfolio, and acquiring eight media companies. In February 2021, Eletromidia successfully went public on the Brazilian Stock Exchange under the ticker ELMD3, becoming the first publicly traded media company in Brazil.
