June 20, 2024

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Truly Business

H.I.G. Funds Completes Development Financial commitment in Homewerks Around the world

3 min read

MIAMI–(Business WIRE)–H.I.G. Capital (“H.I.G.”), a foremost world wide choice investment firm with $44 billion of equity cash underneath management, is pleased to announce that an affiliate has concluded a expansion expense in Homewerks Globally, LLC (“Homewerks” or the “Company”), a foremost innovator in the kitchen area, rest room, and plumbing property advancement types.

Founded in 2006 by Peter Berkman and based mostly outside Chicago, Illinois, Homewerks develops, sources, and markets a wide range of house advancement goods below their very own brand name names as nicely as retailer non-public brands throughout the tough plumbing, manner plumbing, HVAC, and tub accessory categories. The Company’s name for continual innovation, high excellent solutions and expert services, and its expansive product or service portfolio generate important price for its buyers.

H.I.G. is partnering with Main Govt Officer Peter Berkman as very well as the current administration crew to give money and sources to get edge of the Company’s sizeable strategic development initiatives, new merchandise advancement, and significant consolidation prospects throughout the hugely fragmented dwelling enhancement market.

Peter Berkman, CEO of Homewerks mentioned, “We are thrilled to companion with H.I.G., which will enable Homewerks to scale its product giving though even further expanding the Company’s income, promoting, and distribution abilities across new and existing marketplaces. We believe that our customers and employees will reward greatly from this partnership and are wanting forward to the interesting future ways in Homewerks’ development journey.”

“We feel Homewerks signifies an best opportunity to make investments in a differentiated, most effective-in-course distributor serving the extremely beautiful kitchen, bathroom, and plumbing dwelling enhancement groups,” included Ryan Kaplan, Controlling Director at H.I.G. “We are searching ahead to partnering with Peter and the rest of his gifted government workforce as they lead the business via a new phase of natural and inorganic development.”

McDermott Will & Emery LLP served as legal counsel to H.I.G. on the transaction. Skadden, Arps, Slate, Meagher & Flom LLP served as legal counsel to Homewerks Around the world, LLC.

About Homewerks Worldwide, LLC

Homewerks develops, resources, and markets bathroom, kitchen, and plumbing items for household and business use below the Homewerks™, Tosca®, Aqua Vista®, Residence2O™, LDR®, and Exquisite® manufacturer names. Since its formation in 2006, Homewerks has revealed consistent product sales expansion fueled by a verified observe record of bringing revolutionary, effective, and large high-quality merchandise methods to properties. Headquartered in Lake Bluff, Illinois, Homewerks operates out of two distribution centers with strategically situated staff across the world. For far more facts, check out www.homewerks.com.

About H.I.G. Capital

H.I.G. is a major world wide private equity and option property financial commitment organization with $44 billion of fairness money below administration.* Dependent in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as very well as global affiliate workplaces in London, Hamburg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro and São Paulo, H.I.G. specializes in delivering both equally debt and fairness capital to little and mid-sized organizations, utilizing a flexible and operationally concentrated/ worth-extra tactic. Because its founding in 1993, H.I.G. has invested in and managed extra than 300 corporations around the world. The firm’s present-day portfolio contains much more than 100 corporations with put together profits in excessive of $30 billion. For a lot more info, please refer to the H.I.G. site at www.higcapital.com.

* Primarily based on full cash commitments managed by H.I.G. Capital and affiliates.

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