BELLEVUE, Wash.--(BUSINESS WIRE)--Intelius, a leading online provider of people-related information for consumers, today announced that it has been acquired by an affiliate of H.I.G. Capital, a global private equity firm with more than $18 billion of assets under management*.
“We view Intelius as a strong cash flow business with tremendous growth opportunities moving forward,” said H.I.G. Capital’s Managing Director Elliot Maluth. “We are excited to add them to our portfolio of companies.”
As part of the transaction, that formally closed on July 1, Prakash Kondepudi will replace Intelius founder Naveen Jain as the company’s CEO. For the past five years, Kondepudi has served as the president of the Intelius Division and played a key role in the company’s sale to an affiliate of H.I.G. Capital.
“This transaction enables us to focus solely on our core Intelius business and to re-invest in ways that help us to better support customers and to grow our leadership position,” said Kondepudi.
Founded in 2003, Intelius has enjoyed 12 years of strong cash flow. The company currently employs 63 people.
About H.I.G. Capital
H.I.G. is a leading global private equity and alternative assets investment firm with more than $18 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris and Rio de Janeiro, 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. Other H.I.G. funds invest in various real assets, including real estate and shipping.
Since its founding in 1993, H.I.G. has invested in and managed more than 200 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.higcapital.com.
*Based on capital commitments to funds managed by H.I.G. Capital and its affiliates.
Intelius is a leading provider of on-demand information about individuals and predictive analytics that can help identify connections to other people, places and things. Headquartered in Bellevue, Washington, the privately-held company has been in business since 2003 and has sold more than 50 million reports. More information about the company and its products can be viewed online at www.intelius.com.