NEW YORK–(Small business WIRE)–Jan 21, 2021–
H.I.G. Funds (“H.I.G.”), a foremost world wide option expense business with $43 billion of equity capital beneath administration, is happy to announce that just one of its affiliate marketers has finished the acquisition of Continental Battery Keeping Corp. (“Continental Batteries,” “Continental,” or the “Company”).
Headquartered in Dallas, TX, Continental is a top distributor of aftermarket batteries to the electrical utility vehicle (EUV), automotive, commercial, marine and industrial marketplaces. Currently, Continental presents support to more than 30,000 dealers across a community of about 100 distribution areas in North The us supplying a finish array of aftermarket batteries and add-ons.
Eric Royse, Main Government Officer of Continental Batteries commented, “We are enthusiastic to enter into this new chapter with H.I.G. as we proceed to further more enrich the Continental breadth and reach of our providing to greater serve our buyers. H.I.G.’s distribution encounter put together with its tested capability to aid providers develop by acquisition and sector consolidation will enable Continental to speed up our thriving growth trajectory.”
“We are extremely excited to partner with Eric and the Continental management workforce, who have a verified keep track of file of developing a greatest-in-class business and giving the optimum degrees of high-quality and company for their customers,” included Tenno Tsai, Running Director at H.I.G. “The Enterprise is a current market chief with a diversified purchaser foundation, broad geographic footprint and differentiated distribution abilities. We appear forward to performing with the crew to develop upon their results and assist continued development initiatives”
Continental Batteries’ existing administration crew will continue on to run the business going forward. Ares Management is giving financing for the transaction. Harris Williams acted as financial advisor to Incline, and Dentons LLP acted as authorized counsel to the Business and Incline on the transaction. Ropes & Gray LLP furnished lawful advice to H.I.G.
About Continental Batteries
Continental is foremost distributor of aftermarket batteries to the electric powered utility motor vehicle (EUV), automotive, professional, maritime and industrial marketplaces. Founded in 1932 and dependent in Dallas, TX, Continental Batteries operates a lot more than 100 branches throughout North The usa. For much more data, go to http://www.continentalbattery.com.
H.I.G. is a leading world-wide non-public equity and choice property financial commitment agency with $43 billion of fairness capital below administration.* Centered in Miami, and with workplaces in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as nicely as international affiliate places of work in London, Hamburg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro and São Paulo, H.I.G. specializes in delivering both equally personal debt and equity funds to little and mid-sized organizations, employing a flexible and operationally concentrated/ price-additional approach. Given that its founding in 1993, H.I.G. has invested in and managed additional than 300 organizations globally. The firm’s latest portfolio features more than 100 businesses with put together income in excess of $30 billion. For additional info, make sure you refer to the H.I.G. website at www.higcapital.com.
* Dependent on full cash commitments managed by H.I.G. Cash and affiliates.
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PUB: 01/21/2021 11:18 AM/DISC: 01/21/2021 11:18 AM
Copyright Organization Wire 2021.