HIG Capital Purchases Aircom for Undisclosed Price
HIG Capital LLC, the Miami-based private-equity company, purchased mobile-phone services provider Aircom International Group from buyout firm Advent International Corp. for an undisclosed price.
Barclays Plc and HSBC Holdings Plc provided a “joint debt package” to Aircom, which has customers in 135 countries, HIG said in a statement today. The firm paid 100 million pounds ($160 million) for Aircom, the Sunday Times reported, without saying where it got the information.
Aircom may have sales of more than 90 million pounds in the year through June 2011, HIG said. The Leatherhead, England-based company, under Chief Executive Officer Darryl Edwards, has helped phone companies from Vodafone Group Plc to KPN NV to improve network coverage and quality, its website shows.
“We look forward to supporting the management, and we believe that we can bring added firepower and support for their ambitious growth plans,” Paul Canning, managing director at HIG’s Europe unit, said in the statement.
Advent International, located in Boston, invested in Aircom in October 2005, according to its website.
HIG, which has more than 6 billion pounds of equity capital under management, said it expects to make further transaction announcements in the next few months.
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