H.I.G. Capital Announces Investment in Align Networks
MIAMI – June 2, 2006 – H.I.G. Capital, a leading private equity firm based in Miami, Florida, announced that it has completed a minority investment into Align Networks, Inc. Headquartered in Jacksonville, Florida, Align Networks (“Align”) is a leading provider of outpatient rehabilitation services for the worker’s compensation industry in the United States. Investment proceeds will be used to fund growth initiatives and help the Company expand nationally.
Align’s clients benefit from consistent and improved case management support and reduced costs. The Company’s clients include workers’ compensation insurance companies, self-insured corporations, third-party administrators (TPAs), and government insurance entities. Align’s proprietary network of outpatient rehabilitation centers ensure high quality, consistent and cost-effective care for its patients.
Rick Rosen, Managing Director of H.I.G. Capital, added, “We are proud to again partner with Align’s founders- a team that we have worked with before and realized outstanding success. Together, I think Align will rapidly become the leading provider of Physical Therapy services to the workers compensation market.”
About H.I.G. Capital
H.I.G. Capital LLC (“H.I.G.”) is a leading private equity and venture capital investment firm with more than $3 billion of equity capital under management. Based in Miami, and with offices in Atlanta, Boston, and San Francisco, H.I.G. specializes in providing capital to small and medium-sized companies with attractive growth potential. H.I.G. invests in management-led buyouts and recapitalizations of profitable and well managed manufacturing or service businesses. H.I.G. also has extensive experience with financial restructurings and operational turnarounds. Since its founding, H.I.G. has completed in excess of 70 transactions. The firm currently manages a portfolio of more than 40 companies with combined revenues in excess of $5 billion. For more information, please refer to the H.I.G. website at www.hig.com.