H.I.G. Capital (H.I.G.), a global alternative investment firm, announces that one of its affiliates has completed the acquisition of Watchfire Signs LLC (Watchfire), an Illinois-based manufacturer of on-premise LED signs, digital billboards, and video scoreboards.
According to H.I.G., it is partnering with the current management team to provide capital and resources to support Watchfire’s position across multiple segments of the digital display industry.
Steve Harriott, CEO of Watchfire, says, “I am happy to be partnering with H.I.G. Capital to continue to drive growth, both organically and through aggressively pursuing add-on acquisition opportunities. We are excited to leverage H.I.G.’s experience investing in outdoor advertising companies to accelerate our own growth initiatives.”
“We believe Watchfire represents an ideal opportunity to invest in a premier provider of digital signage at a time when market tailwinds such as digital transformation and the replacement of aging signage will continue to drive growth,” states Ryan Kaplan, managing director at H.I.G. “We look forward to supporting Steve and the rest of his executive team as they continue to lead Watchfire through its next exciting phase of expansion.”