H.I.G. Capital Completes Sale of Velocity Solutions
H.I.G. Capital, a leading global alternative investment firm, is pleased to announce that it has successfully sold its portfolio company, Velocity Solutions, to CSI, a recognized provider of comprehensive financial software and technology solutions. While specific financial terms of the sale haven’t been disclosed, this step represents an important achievement in H.I.G.'s ongoing strategic operations.
Introduction to Velocity Solutions
Founded in 1995, Velocity Solutions has made a name for itself as a pioneer in providing innovative financial solutions for institutions. The company specializes in advanced account acquisition, customer engagement strategies, and retention methods, complemented by sophisticated software for monitoring consumer liquidity and managing overdrafts. With almost 30 years of industry experience, Velocity serves over 30 million consumers and business owners, helping institutions maintain a competitive edge in their offerings.
Looking Ahead: Growth and Strategic Plans
Since H.I.G. acquired Velocity from its founders in late 2017, the company has thrived due to numerous strategic initiatives. These have been boosted by complementary acquisitions and targeted investments, contributing to Velocity's significant growth during this time. Christopher Leonard, Velocity's CEO, expressed appreciation for H.I.G., noting that their partnership has greatly supported the company’s strategic objectives and improved its ability to deliver exceptional services to clients.
Insights from Leadership
Leonard highlighted how crucial H.I.G. has been in enhancing their business model, which allowed for improvements in their product offerings. Likewise, Keval Patel, Managing Director at H.I.G. Capital, commended the impressive achievements of the Velocity team throughout their partnership. He expressed confidence in Velocity's future, optimistic about its ongoing growth.
About Velocity Solutions
Velocity Solutions is recognized as a leader in technology solutions designed to enhance revenue, compliance, and services for community financial institutions. Its Velocity Intelligent Platform® utilizes machine-led intelligence to offer powerful analytics, assisting financial institutions in managing risk and generating revenue. This innovative method has established Velocity as a significant player in the financial technology landscape.
About H.I.G. Capital
H.I.G. Capital oversees a vast capital pool of $65 billion and is known for investing in both equity and debt within middle-market firms. With skilled teams based in major cities worldwide, H.I.G. focuses on various investment strategies, including management buyouts and corporate carve-outs, to promote sustainable growth across a range of sectors.
Investment Approaches
H.I.G. has a diverse investment approach, which includes senior, unitranche, and junior debt financing across the market. Their emphasis on operational efficiency helps portfolio companies improve their performance significantly. With their extensive experience, H.I.G. provides valuable insights that lead to superior results for partners.
Contact Information
If you have any questions, please feel free to reach out to Keval Patel, Managing Director at H.I.G. Capital. You can find contact details on their corporate website.
Frequently Asked Questions
What does the sale of Velocity Solutions involve?
This sale represents a strategic decision by H.I.G. Capital to transfer ownership of Velocity Solutions to CSI, which enhances both companies’ expertise in financial technology.
How long has Velocity Solutions been in business?
Velocity Solutions was established in 1995 and has nearly three decades of experience in delivering innovative financial solutions.
Who is currently leading Velocity Solutions?
Christopher Leonard is the CEO of Velocity Solutions, guiding its strategic direction and fostering growth.
What kind of services does Velocity Solutions offer?
Velocity delivers account acquisition, customer engagement solutions, and sophisticated software designed for liquidity tracking and managing overdrafts.
In what ways does H.I.G. Capital support its portfolio companies?
H.I.G. Capital offers equity and debt financing, along with strategic insights that aid in growth and achievement of business objectives for its portfolio companies.
