H.I.G. Capital acquires digital signage manufacturer Watchfire Signs

H.I.G. Capital said that one of its affiliates has closed the acquisition of Watchfire Signs, an Illinois-based manufacturer of digital signage.

The financial terms of the deal were not disclosed by the global alternative investment firm.

Watchfire Signs caters to a diverse base of local sign dealers, large national accounts, and independent billboard operators with indoor displays, outdoor LED signs, video scoreboards, and digital billboards.

Steve Harriott — Watchfire Signs CEO said: “I am happy to be partnering with H.I.G. Capital to continue to drive growth, both organically and through aggressively pursuing add-on acquisition opportunities. We are excited to leverage H.I.G.’s considerable experience investing in outdoor advertising companies to accelerate our own growth initiatives.”

H.I.G. Capital said that it is partnering with Watchfire Signs’ current management team to offer capital and resources to support the latter’s position across various segments of the digital display industry.

Ryan Kaplan — H.I.G. Capital Managing Director said: “We believe Watchfire represents an ideal opportunity to invest in a premier provider of digital signage at a time when market tailwinds such as digital transformation and the replacement of aging signage will continue to drive growth.

“We look forward to supporting Steve and the rest of his executive team as they continue to lead the Company through its next exciting phase of expansion.”