• February 8, 2023
  • North America
  • Business Services

ThoughtFocus, an H.I.G. Capital Portfolio Company, Completes Acquisition of BreakFree Solutions

SAN FRANCISCO – February 8, 2023 – H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with $54 billion of equity capital under management, is pleased to announce that its portfolio company, ThoughtFocus, Inc. (“ThoughtFocus”), has acquired BreakFree Solutions, LLC (“BreakFree”).

Headquartered in Chicago, Illinois, BreakFree provides digital services to enterprise and commercial customers in the financial services sector. Through its expertise in product development, cloud enablement, and DevOps implementation, BreakFree supports its clients’ most critical and strategic digital transformation initiatives.   

“BreakFree has built a strong, team-oriented culture focused on delivering the best possible solutions to its customers,” stated Shylesh Krishnan, ThoughtFocus’ Chief Executive Officer. “Their expertise in DevOps and agile development will both complement and supplement our existing suite of technology services. We are confident that our combined service offering will unlock greater value for our customers.”

“The ThoughtFocus partnership will accelerate our next phase of growth and broaden our geographic reach,” remarked Mitch Northcutt, BreakFree’s President & Chief Executive Officer.  “Joining ThoughtFocus allows us to enhance our value proposition and provide our clients with an end-to-end service offering, assisting them throughout the entire digital transformation lifecycle.”

Kevin Van Culin, Managing Director at H.I.G., commented, “We are thrilled to be partnering with Mitch and the entire BreakFree team. This partnership will further establish ThoughtFocus as a leading provider of digital services in the financial services sector.”

About BreakFree

BreakFree, a leading digital consulting firm based in Chicago, IL, helps its clients institute and scale strategic digital initiatives through its sophisticated agile and DevOps frameworks. BreakFree has a proven track record of helping enterprise financial services firms respond to disruptive technological change. For more information, please visit www.breakfreesolutions.com.

About ThoughtFocus

ThoughtFocus is a global provider of digital services and technology enabled digital operations focused primarily on the financial services end market. ThoughtFocus’ innovative and cutting-edge technology solutions enable its customers to deploy new capabilities faster, deliver better user experiences, and drive operating efficiencies. Founded in 2004 and headquartered in the U.S., the Company has a global delivery model with employees across 12 locations in 5 countries. For more information, please visit www.thoughtfocus.com.

About H.I.G. Capital

H.I.G. is a leading global alternative assets investment firm with $54 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, Rio de Janeiro, São Paulo and Bogotá, 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.
  4. 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 $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.

Kevin Van Culin
Managing Director

Tyler Levin

H.I.G. Capital
One Sansome Street
37th Floor
San Francisco, CA 94104
P 415.439.5500
F 415.439.5525