(Press Release) H.I.G. Capital, LLC (“H.I.G.”), a leading global private investment firm, announced today that its Brazilian affiliate has acquired a majority stake in Eletromidia (the “Company”), one of the largest players in the out-of-home advertising industry. The two founders will retain a significant ownership and will continue in their positions of leading the Company.
Founded in 1993, Eletromidia reaches over 6 million people daily with innovative advertising solutions. The Company manages urban furniture, digital outdoor displays and indoor networks across 18 cities. “H.I.G.’s investment will enable Eletromidia to participate in larger projects and fuel our organic expansion plans. Through this partnership, we are confident that we will improve the reach and depth of our advertising network, adding more value to our clients,” said Paulo Badra, CEO and one of the founders of the Company.
Fernando Marques Oliveira, Managing Director and Head of H.I.G. Brasil and H.I.G. Latin America, added, “Eletromidia is a unique asset with a spectacular team and growth prospects. We are excited to support management in Eletromidia’s next expansion phase, developing new advertising solutions and positively impacting the entire industry.”