Alternative Assets Firm H.I.G. Sells Majority Interest in Milestone Technologies to The Halifax Group

H.I.G. Capital, an alternative assets and private equity firm, has sold its majority interest in portfolio company Milestone Technologies, a global IT services company, to private equity firm The Halifax Group.

Miami-based H.I.G. will maintain a minority stake in the company, while private equity firm Two Sigma Impact has also made a minority investment.

Terms of the transaction have not been disclosed.

Milestone partners with leading organizations to support their digital transformation strategies and to scale their IT capabilities, by providing solutions across application services, including digital product engineering and ServiceNow-oriented, digital workplace and private cloud services.

With more than $52bn in assets, H.I.G. acquired Milestone in August 2015, and during its ownership, Milestone expanded from 15 to 36 countries, completed two significant add-on acquisitions, and entered the ServiceNow ecosystem.

William Blair & Company served as financial advisor to Milestone; McDermott Will & Emery served as legal counsel to Milestone and HIG for this transaction. Goodwin Proctor LLP represented Halifax.