Hibu Signs Definitive Agreement to be Acquired by H.I.G. Capital
Partnership to support Hibu’s plans to accelerate growth.
Cedar Rapids, Iowa. Hibu, a leading provider of digital marketing services to small and medium-sized businesses (“SMBs”) across the United States, is pleased to announce the execution of a definitive agreement to be acquired by an affiliate of H.I.G. Capital, a leading global alternative investment firm with over $43 billion of equity capital under management.
“The investment by H.I.G. is strong recognition of all that our team has accomplished to date, and we are excited to partner with H.I.G. to support our next phase of growth. Hibu is committed to continuing to innovate and provide its local business customers with easier and more effective ways to execute their digital marketing strategies, build and enhance their online presence and reputation, and optimize their digital ad spend.”
— Kevin Jasper, Chief Executive Officer of Hibu
“We are delighted to partner with Kevin and the Hibu team,” said Matt Gullen, Managing Director at H.I.G. “We believe there is immense opportunity ahead for Hibu given its strong SMB value proposition, including a best-in-class integrated service offering, differentiated technology, and exceptional customer service. Hibu has established itself as a leader in the industry, and we look forward to working with the team to build upon their success and support continued growth initiatives.”
The transaction is subject to customary closing conditions and completion of review under antitrust laws, including the Hart-Scott-Rodino Antitrust Improvements of 1976.
Headquartered in Cedar Rapids, Iowa, Hibu provides a full suite of integrated digital marketing services to SMBs including digital listings management, website development and management, search engine marketing and optimization, online and mobile display, and social campaign creation and management. Today, Hibu serves over 80,000 customers across a wide range of industries across the United States. Hibu is a Facebook Marketing Partner, Google Ads Premier Partner, Google My Business Partner, and Microsoft Advertising Select Channel Partner.
* Based on total capital commitments managed by H.I.G. Capital and affiliates.