• January 7, 2021
  • North America

Circle Graphics, an H.I.G. Capital Portfolio Company, Completes Investment in Anthem Displays

MIAMI – January 7, 2021 – H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with $42 billion of equity capital under management, announced today that its portfolio company, Circle Graphics (“Circle”), has acquired a majority ownership stake in Anthem Displays, LLC (“Anthem” or the “Company”).

The transaction expands Circle’s product offerings into digital signage and strengthens its position as a one-stop visual solutions provider to OOH advertising operators and marketers. Circle will bring expertise in innovation and achieving scalable growth to Anthem, alongside Prismaflex International, a leading global manufacturer of advertising displays, which will retain a minority stake in the Company.

Anthem offers best-in-class digital signage manufactured domestically in the U.S., a unique attribute among the Company’s primary competitors.  Rod Rackley, President of OOH at Circle Graphics, states, “Anthem continues Circle’s tradition of leadership in serving the OOH market by delivering innovative, high quality, and lower cost-of-ownership digital displays, which expands the portfolio of products Circle offers to our OOH partners.”

Ryan Kaplan, Managing Director of H.I.G. Capital added, “We are excited about the strategic fit between Circle and Anthem. This acquisition greatly expands Circle’s OOH addressable market into the rapidly growing digital displays product category and will enable Anthem to leverage Circle’s scale and resources to accelerate the Company’s growth.”

Anthem represents Circle’s fourth add-on acquisition since being acquired by H.I.G. Capital just over one year ago.

About Anthem Displays
Founded in 2014, Anthem Displays covers the full digital display value chain from design and production to commercialization of LED displays. Located in Elizabethtown, North Carolina, the Company provides a range of turnkey products, including supporting parts and services, that enable Anthem to deliver an end-to-end value-added customer experience to OOH advertising companies. For more information, please visit http://www.anthemdisplays.com/. 

About Circle Graphics
Founded in 2000, Circle Graphics produces best-in-class digital graphics for consumers, professionals, and businesses through two distinct divisions: Online Wall Décor and Out-of-Home Visual Solutions. The Company’s Online Wall Décor segment enables consumers and professional photographers to procure made-to-order photos and pre-designed art images via wholly-owned direct-to-consumer websites and market-leading reseller relationships. Circle Graphics’ Out-of-Home Visual Solutions segment represents the leading large-format digital graphics provider to billboard operators with a growing offering in branded business signage to small and medium-sized businesses. Based near Denver, Colorado, Circle Graphics employs approximately 600 people in multiple locations across the United States to efficiently serve the Company’s nationwide customer base. For more information, please visit www.circlegraphicsonline.com. 

About H.I.G. Capital
H.I.G. is a leading global private equity and alternative assets investment firm with $42 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:

  1. 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.
  2. 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. is also a leading CLO manager, through its WhiteHorse family of vehicles, and manages a publicly traded BDC, WhiteHorse Finance.
  3. H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.

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.hig.com.

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


Ryan Kaplan
Managing Director

David Miller

H.I.G. Capital
1450 Brickell Avenue
31st Floor
Miami, FL 33131
P 305.379.2322
F 305.379.2013