HIG Growth Partners (HIG), a dedicated growth capital investment affiliate of HIG Capital, has completed the sale of its portfolio company, Centerfield Media Holdings (Centerfield), a technology driven end-to-end digital marketing and sales conversion business, to Platinum Equity.Founded in 2011 and headquartered in Playa Vista, California, Centerfield develops intelligent digital advertising technology focused on real time biddable media which enables targeting and acquisition of high performing, high lifetime value customers for its clients across numerous industries. The Company’s sophisticated marketing technology platform leverages Big Data and optimizes each part of the customer acquisition process from initial view through offline sale in real time for the highest possible return on advertising spend.
HIG recapitalised Centerfield in 2015 in partnership with the founding management team. During HIG’s investment, Centerfield experienced significant growth and became a leading player in the digital marketing and customer acquisition landscape. HIG was able to support the business’ trajectory through continued investment in Centerfield’s best-in-class technology platform and the execution of accretive acquisitions to both vertically integrate the business and diversify traffic sources.
“We are proud of the successful partnership we were able to establish with Centerfield including the active role HIG played in identifying and executing on add-on acquisitions as well as supporting internal organic growth initiatives,” says HIG Managing Director Eric Tencer. “Centerfield’s strong growth during our investment period helped drive an outstanding outcome for all shareholders, and we are confident that the Company will continue to enjoy long-term success.”
HIG continues to target high-growth investments in the technology sector, with recent investments in MX Technologies, a leading data platform for banks, credit unions and fintech companies; Passport Labs, a mobility management platform; and Invoca, an AI-powered call tracking and analytics platform.