H.I.G. Capital Successfully Completes Velocity Solutions Sale
H.I.G. Capital Concludes Sale of Velocity Solutions
H.I.G. Capital, a prominent global alternative investment firm, proudly announces the successful sale of its portfolio company, Velocity Solutions, to CSI, a reputable provider of comprehensive financial software and technology solutions. While the specific terms of the transaction remain undisclosed, this move marks a significant milestone in H.I.G.'s strategic operations.
Overview of Velocity Solutions
Founded in 1995, Velocity Solutions has established itself as a leader in delivering innovative financial solutions to institutions. The company offers state-of-the-art account acquisition, customer engagement, and retention mechanisms, along with advanced software for consumer liquidity monitoring and overdraft management. With nearly 30 years of expertise, Velocity caters to over 30 million consumers and business owners, ensuring these institutions remain competitive in their service offerings.
Future Growth and Strategic Initiatives
Under H.I.G.'s ownership, which began after acquiring Velocity from its founders in late 2017, the company thrived through several strategic initiatives. Enhanced by synergistic acquisitions and focused investments, Velocity experienced substantial growth during this period. Christopher Leonard, the CEO of Velocity, expressed gratitude towards H.I.G., stating that their partnership significantly bolstered the company’s strategic goals, enhancing its capability to deliver exceptional services to clients.
Executive Perspectives
Leonard noted the pivotal role H.I.G. played in adding value to their business model, allowing for advancements in product offerings. Similarly, Keval Patel, Managing Director at H.I.G. Capital, praised the remarkable accomplishments of the Velocity team during their collaboration. He emphasized his optimism for Velocity's future, confident in its continued growth trajectory.
About Velocity Solutions
Velocity Solutions stands as a benchmark in providing technology solutions aimed at driving revenue, compliance, and service for community financial institutions. The Velocity Intelligent Platform® powers its offerings using machine-led intelligence that provides powerful analytics to aid financial institutions in risk management and revenue generation. This innovative approach has positioned the company as a key player in the financial technology sector.
About H.I.G. Capital
H.I.G. Capital manages a substantial $65 billion in capital and is recognized for its commitment to investing both equity and debt into middle-market firms. With expert teams situated in major cities around the globe, they specialize in various investment strategies, including management buyouts and corporate carve-outs, which facilitate sustainable growth across different sectors.
Investment Strategies
H.I.G. maintains a diverse investment portfolio, with strategies that include investing in senior, unitranche, and junior debt financing across the market. Their focus on operationally advantageous approaches enables their portfolio companies to enhance performance considerably. Their extensive experience has equipped H.I.G. with insights that foster superior outcomes for their partners.
Contact Information
For additional inquiries, interested parties can reach out to Keval Patel, Managing Director at H.I.G. Capital. Contact details are available through their corporate website.
Frequently Asked Questions
What does the sale of Velocity Solutions entail?
The sale marks a strategic move by H.I.G. Capital, transferring ownership of Velocity Solutions to CSI, enhancing both firms’ capabilities in financial technology.
How long has Velocity Solutions been in operation?
Velocity Solutions was founded in 1995 and has nearly 30 years of experience in providing innovative financial solutions.
Who is the CEO of Velocity Solutions?
Christopher Leonard serves as the CEO of Velocity Solutions, driving its strategic direction and growth.
What type of services does Velocity Solutions provide?
Velocity offers account acquisition, customer engagement solutions, and advanced software for liquidity monitoring and overdraft management.
How does H.I.G. Capital contribute to its portfolio companies?
H.I.G. Capital specializes in providing equity and debt financing, coupled with operational insights that support growth and strategic objectives for its companies.
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