H.I.G. Capital Completes Sale of DIAM
H.I.G. Capital announced the sale of DIAM International to LBO France, a French private equity firm.
Based in Paris, DIAM is the global designer and manufacturer of high quality luxury and retail point of purchase (POP) displays. DIAM’s more than 1,300 employees in 13 countries throughout Europe, Asia, Africa, North America and Australia provide the world’s leading luxury brands and specialty retailers with a full range of POP display services. The company’s primary business segments include prestige retail displays, mass-market displays, non-cosmetic displays and installation services. For over 30 years, DIAM has nurtured close relations with the world’s leading cosmetic brands with a growing range of products and services to support their worldwide development.
“H.I.G. has been a tremendous partner to DIAM and has been instrumental in helping us execute our growth strategy,” said Michel Vaissaire, CEO of DIAM. “In the last five years, we’ve significantly expanded our international sales, made a key acquisition, and made sizeable investments to improve our market leading customer support and manufacturing efficiency. We are very happy to now welcome LBO France as a shareholder.”
“DIAM was an extremely successful investment for H.I.G.,” commented Olivier Boyadjan, managing director of H.I.G. in Paris. “Michel Vaissaire and his team significantly increased sales and earnings over the past five years, and the team has driven DIAM to the forefront of the global POP market under his leadership. We have no doubt that the Company will enjoy continued long-term success.”
H.I.G. had invested in Diam in 2007, through its European affiliate H.I.G. Europe, and its credit affiliate Bayside Capital.
H.I.G. specializes in providing capital to small and medium-sized companies with attractive growth potential.