DANVILLE, Ill. – July 26, 2022 – H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with $50 billion of equity capital under management, is pleased to announce that one of its affiliates has completed the acquisition of Watchfire Signs, LLC (“Watchfire” or the “Company”).
Headquartered in Danville, Ill., Watchfire is a leading manufacturer of premium digital signage with best-in-class lead times, product quality, customer service and support. The Company serves a highly diverse base of local sign dealers, independent billboard operators and large national accounts.
H.I.G. is partnering with the current management team to provide capital and resources to support the Company’s growing position across multiple segments of the digital display industry, including indoor & outdoor LED signage, digital billboards, and video scoreboards. Watchfire’s strong brand reputation and expansive customer network have allowed the Company to establish an installed base of over 65,000 LED displays, highlighting its position as a leader in the large and growing digital display market.
Steve Harriott, CEO of Watchfire, said, “I am happy to be partnering with H.I.G. Capital to continue to drive growth, both organically and through aggressively pursuing add-on acquisition opportunities. We are excited to leverage H.I.G.’s considerable experience investing in outdoor advertising companies to accelerate our own growth initiatives.”
“We believe Watchfire 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,” said Ryan Kaplan, Managing Director at H.I.G., adding “We look forward to supporting Steve and the rest of his executive team as they continue to lead the Company through its next exciting phase of expansion.”
About Watchfire
Watchfire designs and engineers the best looking, most durable outdoor LED signs, indoor displays, digital billboards, and video scoreboards, which help businesses and organizations communicate effectively, increase visibility and drive growth. Headquartered in Danville, Ill., Watchfire has manufactured electric signs for 90 years and LED displays since 1998 using meticulously sourced components from around the world. Watchfire has more than 65,000 LED displays in operation worldwide and has more digital billboard customers in the U.S. than any other brand. For information, please refer to the Company’s website at https://www.watchfiresigns.com.
About H.I.G. Capital
H.I.G. is a leading global private equity and alternative assets investment firm with $50 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, Bogotá, Rio de Janeiro and São Paulo, 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. 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. For more information, please refer to the H.I.G. website at www.higcapital.com.
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