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HIG Capital sells Trace3

An affiliate of HIG Capital (HIG) is to sell Trace3 to affiliates of American Securities.

Trace3 is a premier provider of IT solutions and services to over 2,500 commercial and enterprise clients across the U.S. Through elite engineering talent, dynamic leadership, an in-house research team, and unparalleled venture capital connections, Trace3 stays on the leading edge of the technology innovation curve and empowers its clients with the most advanced cloud technologies, data center designs, security strategies, and business intelligence solutions in the industry. The Company is headquartered in Irvine, CA with offices across the United States.

HIG invested in the business in 2017. During HIG’s ownership, through a series of strategic growth initiatives and acquisitions, the Company tripled revenues to USD1.4 billion, becoming a leading national player while broadening its managed services offering.

“HIG was an invaluable partner who enabled us to maintain the culture that makes Trace3 special, while providing strategic vision in helping us build one of the largest solutions providers in the US,” said Rich Fennessy, Chief Executive Officer of Trace3. “Our team is proud and excited to now partner with American Securities as we embark on our next phase of growth.”

“We are extremely proud to have supported Trace3’s differentiated growth during our partnership with the team over the past four years. We feel fortunate to have played a role in continuing Trace3’s legacy as a best of breed, emerging-tech focused solutions provider,” says Kevin Van Culin, Managing Director at HIG Capital.

“The partnership with Trace3 has been an extremely successful one for HIG, our investors, and the company. We look forward to watching Trace3 continue to grow,” says Matthew Robinson, Managing Director at HIG Capital.

Guggenheim Securities LLC served as the exclusive financial advisor to Trace3; Akerman LLP and Latham & Watkins LLP served as legal counsel to Trace3 and HIG for this transaction. Kirkland & Ellis LLP represented American Securities. The transaction remains subject to customary closing conditions and the financial terms of the transactions are not being disclosed.

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