Houlihan Lokey Advises H.I.G. and ICG Group

Houlihan Lokey is pleased to announce that H.I.G. Capital (H.I.G.) has sold its portfolio company ICG Group (ICG), a market-leading provider of turnkey solutions for 5G mobile, FTTx, and electricity networks, to SPIE Group (SPIE), a European leader in multi-technical services in the areas of energy and communications. The transaction was completed on 18 April 2024.

Headquartered in Leonberg, Germany, ICG Group combines the competencies of the leading communication infrastructure service providers: Infratech, comcross, Schwan, TripleA Networks, and DPE. The group covers the entire value chain from planning and construction to installation and maintenance of infrastructures for fiber-optic, mobile communications, and electricity networks. All units of the group are characterized by a strong position in their respective segments and long-standing customer relationships. The ICG Group has more than 700 employees at 16 locations in Germany, the Netherlands, and Croatia.

H.I.G. Capital is a leading global alternative investment firm with $60 billion of capital under management (based on total capital raised by H.I.G. Capital and its affiliates). Based in Miami and with national and international offices around the globe, H.I.G. specializes in providing both debt and equity capital to middle-market companies utilizing a flexible and operationally focused/value-added approach.

SPIE Group is the independent European market leader for multi-technical services. With more than 50,000 employees, SPIE Group is committed to a climate-friendly and digital future. In 2023, the company generated a consolidated turnover of approximately €8.7 billion.

With this acquisition, SPIE strengthens its market position in the provision of next-generation infrastructures and turnkey network solutions while leveraging cross-selling opportunities with newly won trusted public sector and corporate clients. The acquisition will allow SPIE to deploy significant capacities for the rollout of 5G and the upcoming 6G network solutions, as well as the fiber-optic rollout.

Houlihan Lokey served as the exclusive financial advisor to the sellers and assisted in marketing the transaction, managing the transaction process, and negotiating the financial aspects of the deal on behalf of ICG Group and its shareholders. ICG Group is owned by H.I.G. Capital and management.