Circle Graphics, a portfolio company of global alternative investment firm H.I.G. Capital, acquired Bay Photo.
Bay Photo is a provider of professional-grade photographic wall décor, albums and specialty prints, serving professional photographers, artists, prosumers and third-party channel partners. Bay Photo was founded by Larry Abitbol in 1976 and is headquartered outside of Santa Cruz, CA, with an additional production facility in Springfield, MO.
“Bay Photo enhances Circle’s presence in the professional photography and artist markets while expanding Circle’s product portfolio into the rapidly growing segments of metal prints, albums and photo books,” Andrew Cousin, CEO of Circle Graphics, said. “The company has had a long and successful history under Larry’s leadership dating back to the 1970s, and we look forward [to] serving as great stewards of his business going forward.”
“Over the years we have searched for a partner that could leverage what we have built, provide scale and resources to help us exceed our goals, and align with the core values by which we run our business,” Abitbol said. “I am pleased to announce that we have found that partner in Circle Graphics. Together we will continue to provide our customers with innovative products of the highest quality, along with on-time delivery and superior customer service. We also share the same vision around the future growth of the photo print industry and look forward to continued success together.”
“We are pleased to support Circle’s acquisition of Bay Photo,” Ryan Kaplan, managing director of H.I.G. Capital, said. “The investment further establishes Circle Graphics as a leader in the online wall décor market and continues our strategy of expanding Circle’s geographic reach and product diversification. We look forward to Circle partnering with Larry to help achieve Bay Photo’s next phase of growth while continuing to offer the same exceptional quality and customer service his customers have experienced over the past 45 years.”
Bay Photo represents the second add-on acquisition that Circle Graphics has made since H.I.G. acquired the company less than one year ago.
