H.I.G. Capital Announces the Sale of DGS S.p.A.

H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with $62 billion of capital under management, is pleased to announce that an affiliate has signed a definitive agreement to sell its portfolio company, DGS S.p.A. (“DGS” or the “Group”), a leading firm in the Italian Information Technology market, to DGS Co-Founders and management team in partnership with ICG, a global alternative asset manager.

Since its inception in 1997, DGS has supported blue-chip customers in the design, integration, and maintenance of complex IT systems, with a specialization in digital transformation and cybersecurity services. The Group currently has over 1,900 employees, revenues of approximately €300 million, and maintains a group of highly loyal clientele. During H.I.G.’s ownership, DGS has tripled in size and consolidated its position as a leading Italian firm in cybersecurity services and digital transformation.

DGS offers its clients sophisticated and proprietary digital transformation solutions with a focus on cloud, ERP, CRM, PLM/SCM, workflow digitalization, collaboration/content management, artificial intelligence, and data analytics. It also offers a full range of cybersecurity services (consulting, data protection, network protection, monitoring & control services) and IT management consulting.

Raffaele Legnani, Managing Director and Head of H.I.G. in Italy, and Giovanni Guglielmi, Managing Director, commented: “We are proud to have contributed to the growth of DGS, allowing the company to become a key player in the Italian ICT market. Consolidating its positioning in the sector has allowed the Group to become a leader in the rapidly growing cybersecurity and digital transformation industry.”

Vincenzo Fiengo and Salvatore Frosina, Co-Founders and Co-CEO of DGS, who will re-invest alongside ICG and continue to lead the Group, added, “H.I.G.’s partnership, along with organic growth initiatives and targeted acquisitions, have been instrumental in accelerating the development of DGS.”

Giulio Piccinini, Managing Director and Head of Italy at ICG, commented: “DGS is a very high-quality asset and is ideally positioned to benefit from the growing digitalisation of our country. We are impressed by the results achieved by the management team to date and are excited to partner with them for the next phase of DGS’s development.”

About DGS S.p.A.

Based in Rome, DGS has been active for over 25 years in the ICT services market for public and private companies. The Group specializes in providing solutions for digital transformation of business processes (including application system integration and proprietary custom applications), cybersecurity services, and IT management consultancy. DGS serves large customers, leaders in their respective industries, ensuring high technical standards, with a staff of over 1,900 employees with 2,500 IT certifications and long-lasting partnerships with the major global IT vendors. For further information, please visit dgsspa.com.

About H.I.G. Capital

H.I.G. Capital is a leading global alternative investment firm with $62 billion of capital under management.* Based in Miami, and with offices in Atlanta, Boston, Chicago, Dallas, Los Angeles, New York, and San Francisco in the United States, as well as international affiliate offices in Hamburg, London, Luxembourg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro, São Paulo, and Dubai, H.I.G. specializes in providing both debt and equity capital to middle market companies, utilizing a flexible and operationally focused/ value-added approach:

• 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.
• 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. also manages a publicly traded BDC, WhiteHorse Finance.
• H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.
• H.I.G. Infrastructure focuses on making value-add and core plus investments in the infrastructure sector.

Since its founding in 1993, H.I.G. has invested in and managed more than 400 companies worldwide. The Firm’s current portfolio includes more than 100 companies with combined sales in excess of $53 billion. For more information, please refer to the H.I.G. website at hig.com.

About ICG

ICG provides flexible capital solutions to help companies develop and grow. ICG is a leading global alternative asset manager with over 35 years’ history, managing $98bn of assets and investing across the capital structure. ICG develops long-term relationships with its business partners to deliver value for shareholders, clients and employees, and uses its position of influence to benefit the environment and society. Headquartered in London, ICG has international operations with 19 locations worldwide, including Milan. ICG is a member of the FTSE 100 and listed on the London Stock Exchange. Further details are available at icgam.com.

*Based on total capital raised by H.I.G. Capital and affiliates.

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