H.I.G. Growth Partners Completes Sale of Eruptr
BOSTON – February 9, 2023 – H.I.G. Growth Partners (“H.I.G. Growth”), the dedicated growth capital investment affiliate of H.I.G. Capital, is pleased to announce the sale of its portfolio company, Eruptr (“Eruptr” or the “Company”), a leading provider of technology-enabled digital marketing solutions and SaaS health risk assessments, to Amulet Capital Partners, LP (“Amulet”).
Founded in 2009, Eruptr provides a full suite of digital marketing, patient engagement, and customer acquisition solutions for more than 200 blue-chip hospitals and health systems across the country. Eruptr’s solutions are powered by its proprietary technology platform, which facilitates real-time campaign performance optimization and enhanced internal operational efficiencies, to drive superior client performance and profitability. In addition, Eruptr’s leading SaaS health risk assessments platform is highly synergistic to its core digital performance marketing solutions. The platform is designed to help patients determine disease risk and find appropriate provider intervention.
H.I.G. Growth made a strategic investment in Eruptr in September 2018, and partnered with management on numerous initiatives, including scaling the organizational infrastructure, enhancing the proprietary marketing technology platform, and broadening the product suite through two transformative add-on acquisitions. During the course of H.I.G.’s investment, the Company more than doubled its revenues and tripled its EBITDA.
Kevin Minnelli and J.K. Lloyd, Eruptr’s Co-Founders, commented, “H.I.G. Growth has been a fantastic partner and we deeply appreciate the team’s commitment and strategic value-add to Eruptr. The collaboration between H.I.G. and our leadership team has been instrumental in helping us scale our organization, and further develop our comprehensive best in class solutions to better serve our clients.”
Eric Tencer, Managing Director at H.I.G. Growth, added, “We have enjoyed partnering with Kevin Minnelli, J.K. Lloyd, and the rest of the Eruptr team. It has been incredibly rewarding to have executed on the shared vision that we all had at the start of the investment, positioning Eruptr as a clear industry leader, uniquely suited to support its healthcare clients. This was a great chapter for the Company, and we look forward to following its continued success.”
Canaccord Genuity LLC served as financial advisor and Sidley Austin LLP served as legal counsel to Eruptr in connection with this transaction.
Eruptr is an industry leading provider of technology-enabled digital marketing solutions and SaaS health risk assessments to help hospitals increase awareness, patient acquisition and achieve KPIs. Eruptr maintains direct customer relationships with blue-chip health systems including Johns Hopkins, UNC Healthcare, Methodist, and Inova Health System and serves a client base of over 70 systems representing over 200 hospitals. For more information, please refer to the Eruptr website at www.eruptr.com.
About H.I.G. Growth Partners
H.I.G. Growth Partners is the dedicated growth capital investment affiliate of H.I.G. Capital, a leading global alternative investment firm with $54 billion of equity capital under management.* H.I.G. Growth seeks to make both majority and minority investments in strong, growth-oriented businesses located throughout North America, Europe and Latin America. H.I.G. Growth Partners considers investments across all industries but focuses on certain high-growth sectors where it has extensive in-house expertise such as technology, healthcare, internet and media, consumer products and technology-enabled financial and business services. H.I.G. Growth strives to work closely with its management teams to serve as an experienced resource, providing broad-based strategic, operational, recruiting, and financial management services from a vast in-house team and a substantial network of third-party relationships. For more information, please refer to the H.I.G. website at www.HIGgrowth.com.
* Based on total capital commitments managed by H.I.G. Capital and affiliates.