H.I.G. Capital Completes Acquisition of Symplicity Corporation
MIAMI – August 1, 2016 – H.I.G. Capital ("H.I.G."), a leading global private equity investment firm with more than $20 billion of equity capital under management, is pleased to announce that one of its affiliates has acquired 100% of Symplicity Corporation (“Symplicity” or the “Company”).
Headquartered in Arlington, VA, Symplicity sells SaaS-based solutions to over 1,200 colleges and graduate school programs that help manage all aspects of a student’s life on campus, including career services, academics, behavioral intervention, and student conduct. In addition, more than 400,000 active employers utilize the Company’s on-campus recruiting software to leverage the largest Higher Education job network in the U.S. and recruit students and alumni for entry-level jobs. In 2015, five million students submitted more than 13 million job applications through the Company’s unmatched employment ecosystem.
“We believe Symplicity represents an ideal opportunity to invest in the clear market-leading career services software provider at a time when schools are increasingly concerned with student retention, job placement, and the ability for graduates to pay student loans,” said Keval Patel, Managing Director at H.I.G. Capital. “We plan to utilize our scale, network, and technology expertise to significantly enhance the Company’s growth profile both organically and through acquisitions, creating a truly global, data-driven, employability and student services platform.”
“H.I.G. is committed to investing in our business and helping us build on our world-class suite of student lifecycle solutions,” said Bill Gerety, Symplicity’s President and CEO. “We are very excited about the future of the Company and feel our customers, employees, partners, and trusted advisors will benefit greatly from a reinvigorated focus on product development and investments aimed at creating industry-leading user experiences and innovative, cutting-edge solutions to meet the evolving needs of our clients.”
Raymond James & Associates served as the exclusive financial advisor to the Company.
About Symplicity Corporation:
Founded in 1997 and headquartered in Arlington, VA, Symplicity sells SaaS-based solutions to over 1,200 institutions that help manage all aspects of a student’s life on campus, including career services, academics, behavioral intervention, and student conduct. More than 400,000 active employers utilize the Company’s on-campus recruiting software to leverage the largest Higher Education job network in the U.S. and recruit students and alumni for entry-level jobs.
About H.I.G. Capital
H.I.G. Capital is a leading global private equity and alternative assets investment firm with over $20 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 and Rio de Janeiro, 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. 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.