BOSTON – H.I.G. Growth Partners (“H.I.G.”), the dedicated growth capital investment affiliate of H.I.G. Capital, announces the sale of a majority of its affiliate’s investment in SpotXchange (“SpotXchange” or the “Company”) to RTL Group.
“H.I.G. has been an exceptional partner to SpotXchange as we have grown and expanded our market offerings”
SpotXchange (www.SpotXchange.com) is the trusted video advertising platform offering premium publishers holistic yield management in order to maximize revenue for desktop, mobile and connected TV inventory while driving down operational costs. The company’s offerings and market leadership are based on its technology platform and continued history of innovation. SpotXchange was first to market with its real-time bidding solution for video advertising and has continued to enhance its programmatic publisher solutions to ensure transparency, brand safety and real-time control for its partners.
“H.I.G. has been an exceptional partner to SpotXchange as we have grown and expanded our market offerings,” said Mike Shehan, Chief Executive Officer of SpotXchange. “Their knowledge and company building expertise was invaluable as we expanded our team, technology and geographic reach.”
“The executive and founding team of CEO Mike Shehan and COO/CFO Steve Swoboda is exceptional and has built a tremendous Company from its inception. SpotXchange grew its revenue more than ten-fold during our investment and has deepened its technology and market positioning in that time,” commented John Kim, Managing Director of H.I.G. Growth Partners. “With our continuing investment in the Company with RTL Group, we look forward to participating in the Company’s continued success.” John Kim will remain a Board member of SpotXchange.
H.I.G. Growth Partners remains very active in the digital media, online marketing, e-commerce and advertising services sectors, with other investments including Batanga, Escalate Media, LuLu’s Fashion Lounge, REVShare, and Telescope, and continues to look for new opportunities.
About H.I.G. Growth Partners
H.I.G. Growth Partners is the dedicated growth capital investment affiliate of H.I.G. Capital, a leading global private equity investment firm with over $15 billion of capital under management. We seek to make both majority and minority investments in strong, growth oriented businesses located throughout North America, South America and Europe. We will invest $5 million to $30 million in equity in a given company and target investments in profitable growth oriented businesses with between $10 million and $100 million in revenues. We consider investments across all industries, but focus on certain high-growth sectors where H.I.G. has extensive in-house expertise such as technology, healthcare, internet and media, consumer products and technology-enabled financial and business services. Growth Partners strives to work closely with our management teams to serve as an experienced resource, providing broad-based strategic, operational, recruiting and financial management services from a vast in-house team and a substantial network of third-party relationships. For more information, please refer to the H.I.G. website at www.HIGgrowth.com.
