BIC Group to Sell BIC Graphic North America, Asian Sourcing Division
BIC Graphic North America, Clearwater, Fla., announced that its parent company, BIC Group, has signed an asset and share purchase agreement to sell its North American promotional products division and Asian sourcing division (BGNA) to an affiliate of H.I.G. Capital (H.I.G.), a global U.S. private equity firm.
“We are excited about partnering with H.I.G. for the next stage of our growth,” said Emmanuel Bruno, vice president/general manager of BIC Graphic North America. “We believe that they are the right partners to support our strategy and invest in our future.”
“We are very excited to partner with the BGNA team,” said Camilo E. Horvilleur, managing director at H.I.G. “We believe BGNA is a differentiated leader in a consolidating market due to its compelling customer value proposition. We see tremendous opportunities in the business and are excited to support their growth as they continue to broaden and deepen their customer relationships.”
BIC Graphic’s management team will continue to run the business, and its customers and suppliers can expect the same levels of quality and service from the company with increased support for innovation and strategic growth initiatives. The closing is expected by June 30, 2017.
We will have more information from BIC Graphic this week, so stay tuned to Promo Marketing Headlines.