H.I.G. Capital Completes Sale of Celerion, Highlighting a Period of Robust Exit Activity
Transaction Reflects Continued Momentum Across H.I.G.’s Advantage Strategy
MIAMI – June 15, 2026 – H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with $75 billion of capital under management, announced the completion of the sale of Celerion Holdings, Inc. (“Celerion”) to funds affiliated with THL Partners for $1.8 billion. Celerion is a leading clinical pharmacology-focused Contract Research Organization globally, a true category-defining business within the pharmaceutical industry. The transaction marks the latest in a series of successful exits from H.I.G.’s Advantage strategy, which has now completed the sales of St. Croix, United Flow Technologies, and Celerion since the fourth quarter of 2025, for a combined total enterprise value of more than $4.5 billion, underscoring H.I.G.’s consistent ability to identify differentiated businesses, execute disciplined value creation strategies, and deliver compelling returns for its investors.
H.I.G. Advantage invests in established, high-quality, industry-leading North American companies with clear and differentiated value propositions. The strategy has demonstrated a consistent ability to identify and build businesses of scale across sectors and geographies.
“The Celerion transaction is a direct reflection of what H.I.G. does best: identifying exceptional businesses in specialized markets, bringing our full operational and strategic resources to bear, and partnering closely with management to execute against a clear vision. The closing is a compelling outcome for our investors and a validation of H.I.G.’s approach to value creation. We are proud of what we built with Celerion and have positioned it exceptionally well for its next chapter. Combined with the exits of St. Croix and United Flow Technologies, H.I.G. Advantage has demonstrated its ability to return meaningful capital to investors, even amid a challenging exit environment,” said Matt Hankins and Rahul Vinnakota, Co-Heads of H.I.G. Advantage.
About Celerion
Celerion is a clinical research organization that provides comprehensive clinical trial solutions to pharmaceutical and biotechnology clients conducting early clinical research throughout North America, Europe, and Asia. The Company serves its clients through a global network of facilities and provides first-in-human to proof-of-concept studies as well as bioanalytical laboratory services, data management and biometrics, and drug development services. For more information, visit celerion.com.
About H.I.G. Capital
H.I.G. Capital is a leading global alternative investment firm with $75 billion of capital under management.* Based in Miami, and with offices in Atlanta, Boston, Chicago, Los Angeles, New York, San Francisco, and Stamford in the United States, as well as international affiliate offices in Hamburg, London, Luxembourg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro, Dubai, and Hong Kong, 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.