FREMONT, Calif. – December 13, 2022 – Milestone Technologies Inc. (“Milestone”), a leading global IT Services provider announced that The Halifax Group (“Halifax”), a middle market private equity firm that partners with management to invest in market-leading companies, completed a control investment in Milestone. In addition, Two Sigma Impact, a private equity firm focused on utilizing data science and technology to drive employee engagement, made a minority investment, and H.I.G. Capital, will continue to maintain an equity stake in Milestone.
The new investment will enable Milestone to continue to accelerate and execute on the company’s strategic vision of building an employee-first culture and broadening its suite of services and solutions.
“We are very excited about our new partners and the shared vision we have for the next stage of Milestone’s growth. The investment Halifax and Two Sigma Impact are making will provide us the capital and strategic resources to accelerate Milestone’s growth and better serve our employees and customers globally,” said Sameer Kishore, Milestone’s President and CEO. “As we continue on the path, we started with H.I.G. Capital seven years ago, we are delighted to welcome our new partners.”
David Bard, Partner at Halifax said, “We are privileged to partner with Sameer and the Milestone team. They have proven themselves to be a best-in-class management team with an impressive story to tell. Halifax has built a strong thesis and set of executive relationships around IT services, which we aim to bring to bear to support Milestone in building on and further accelerating their tremendous success to date.”
Andrey Vakhovskiy, Managing Director at H.I.G. Capital said, “Sameer and the Milestone team have done an excellent job executing on strategic initiatives and growing the business. We have enjoyed our partnership with the Milestone team and look forward to participating in the Company’s continued success as a minority investor alongside Halifax.”
Milestone Technologies, Inc. is a global IT Services provider based in the Silicon Valley and has been providing diverse solutions since 1997, helping hundreds of leading corporations deliver technology around the globe. The company employs 3,100+ industry professionals, serves over 200 clients, and operates in over 31 different countries. For more information, please visit https://milestone.tech/ and follow Milestone Technologies on LinkedIn.
About The Halifax Group
Founded in 1999, The Halifax Group is a private equity firm that partners with managers and entrepreneurs to recapitalize and invest in lower middle-market businesses with total enterprise values generally between $100 million and $300 million. Halifax specializes in equity recapitalizations, corporate carve-outs, and management buyouts and invests across a variety of industries, including health and wellness, outsourced business services, and franchising. The firm is headquartered in Washington, D.C. and maintains an office in Raleigh, NC. For more information, please visit https://thehalifaxgroup.com/
About Two Sigma Impact
Two Sigma Impact is a business of Two Sigma. Its mission is to combine active, principled ownership and data science with the goal of achieving superior returns and positive social outcomes. The Two Sigma Impact team is focused on workforce impact where they anticipate innovative and thoughtful investments in humans will lead to an enhanced employee experience, productivity, and long-term financial returns. As part of Two Sigma, Two Sigma Impact has expertise in data science, technology, and a range of corporate specialties, and seeks to support its portfolio companies with those resources.
About H.I.G. Capital
H.I.G. Capital is a leading global private equity and alternative assets investment firm with over $52 billion of equity capital under management. Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogota, Rio de Janeiro, and Sao Paulo, 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. Since its founding in 1993, H.I.G. has invested in and managed more than 300 companies worldwide. The firm’s current portfolio includes more than 100 companies with combined sales in excess of $30 billion. For more information, please visit https://www.higcapital.com/
Milestone Technologies, Inc.
Victoria Iboa, Chief of Staff