H.I.G. Europe to finance Bezier
Integrated point of sale marketing services provider Bezier and H.I.G. Europe have agreed to the terms of a management led buy-out of Beizer.
Under this agreement H.I.G. Europe, the European arm of global private equity firm H.I.G. Capital, will commit further capital to help the business deliver on its plan to grow both organically and through selective acquisitions.
Bezier’s management team will continue to be led by Trevor O’Reilly as chief executive, although chairman David Mitchell has indicated his intention to step down.
O’Reilly said: “Until today the company has been carrying too much debt, but now with such a strong balance sheet and a financial backer with the firepower of H.I.G. Europe we will be able to reach our full potential.
“We have made significant progress over the past 18 months implementing a new and innovative strategy for the business that puts our clients at the centre of everything we do. The market is changing and we are building a business model that allows Bezier to lead the way in taking advantage of new opportunities. It’s been challenging to do this with the legacy of debt within the business but that constraint to growth has now been removed. We were not alone in having a poor balance sheet but we now have one of the strongest balance sheets in the industry and a financial backer willing to invest in the business to support its ambitions.
“We will continue to invest in the best talent, provide the widest range of market-leading services and solutions to our clients, and pursue selective acquisitions. It’s great news for our clients and great news for our people.”