To get the story behind today’s announcement that H.I.G. purchased the Watchfire Signs, Billboard Insider reached out of H.I.G. with some questions.

Who are the H.I.G principals who will be active in the investment?

Ryan Kaplan, Managing Director, and David Miller, Principal, will be engaged with Watchfire.

What intrigued H.I.G about the digital sign industry?

H.I.G. is partnering with Watchfire because they believe the Company represents an ideal opportunity to invest in a premier provider of digital signage at a time when market tailwinds such as digital transformation and the replacement of aging signage will continue to drive growth. Additionally, H.I.G.’s considerable experience investing in out-of-home companies will help Watchfire accelerate our own growth initiatives, both organically and through acquisitions.

Does H.I.G have any existing investments in signs or in out of home?

Yes. They recognized the potential for Watchfire due to their experience with other out-of-home businesses. H.I.G. owns Circle Graphics, a premier large-format digital graphics provider to billboard operators, Eletromidia, a leading out-of-home player in Brazil, and Exterior Plus, a leading provider of outdoor advertising solutions in Spain.

Are there any executive team changes at Watchfire?

The executive team is excited to partner with H.I.G. and no changes are anticipated.

Billboard Insider’s take: This will be Watchfire’s 3rd spin with a private equity firm after previously being owned by Harbor Group (2008) and The Jordan Company (2013).  Great to see that H.I.G. has experience in out of home industry.  Billboard Insider wonders if there will be a consolidation of Anthem Displays (CircleGraphics Digital sign division) and Watchfire.  Makes no sense for a private equity firm to have two competing digital sign manufacturers.

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