H.I.G. Capital has acquired Brazil-based internet service provider Desktop Sigmanet for an undisclosed amount.

(Press Release) H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with $42 billion of equity capital under management, is pleased to announce that one of its affiliates has completed the acquisition of DSN Participações S.A. (“Desktop” or the “Company”), one of the leading B2C ISPs (“Internet Service Provider”) in Brazil.

Founded in 1999 in the state of São Paulo, Desktop offers fiber optic internet and triple-play services (internet, TV, and fixed line) to more than 185,000 clients across 20 cities in the state of São Paulo. The Company has been growing at a double digit rate in the last few years and is positioned to serve as the platform for a roll-up strategy in the sector, benefiting from a largely underpenetrated and fragmented market.

Marcelo Hudik, Managing Director of H.I.G. Brazil and Latin America, commented: “We are pleased to have completed the acquisition of Desktop. Founder and CEO Denio Alves Lindo and his partners have done an outstanding job of building a strong business that is competitively well positioned with a strong potential to scale in attractive markets.”

“We are excited to partner with H.I.G. Capital as Desktop continues on its outstanding growth trajectory. H.I.G.’s solid track record and long-term view will add significant value to the Company.” said Denio Alves Lindo.

About Desktop
Desktop is one of the largest ISPs (“Internet Service Provider”) in Brazil and the market leader in several cities of the State of São Paulo.

About H.I.G. Capital
H.I.G. is a leading global private equity and alternative assets investment firm with $42 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Rio de Janeiro, São Paulo and Bogotá, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/value-added approach:

1. H.I.G.’s equity funds invest in management buyouts, recapitalizations and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
2. H.I.G.’s debt funds invest in senior, unitranche and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. is also a leading CLO manager, through its WhiteHorse family of vehicles, and manages a publicly traded BDC, WhiteHorse Finance.
3. H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.

Since its founding in 1993, H.I.G. has invested in and managed more than 300 companies worldwide. The firm’s current portfolio includes more than 100 companies with combined sales in excess of $30 billion.