HOUSTON - Thursday, 22. February 2024
Partnership with HGGC Will Empower Rimkus to Deepen Expertise and Expand Market Reach
(BUSINESS WIRE) -- Rimkus Consulting Group, Inc. ("Rimkus"), a worldwide leader in engineering and technical consulting, today announced that the firm has received a strategic growth investment from HGGC, a leading middle-market investment firm. Existing minority investor Century Equity Partners and the Rimkus management team will be rolling significant equity into the transaction. Financial details of the deal were not disclosed.
“We are excited to welcome HGGC as a strategic partner. Their investment not only recognizes the Rimkus team’s hard work and dedication but also empowers us to accelerate our growth trajectory. With HGGC’s expertise and resources, we’re poised to reach new heights and expand our service offerings to provide even greater value for our clients,” said Jonathan Higgins, President and Chief Executive Officer at Rimkus.
Rimkus provides engineering and technical consulting to global clients including corporations, law firms, insurance carriers, third-party administrators, and government agencies. The new partnership with HGGC will help Rimkus to broaden its service portfolio, better serve its clients, and further establish itself as the premier technical consulting firm.
“Rimkus is a proven leader with a fantastic brand and truly differentiated culture. Their track record and reputation among clients make them an exceptionally attractive partner for us,” said HGGC. “We look forward to helping Rimkus achieve growth by broadening its service offerings, deepening its already-strong bench of expertise, and investing in technology to enhance operations.”
Since 2020, Rimkus has made 15 strategic acquisitions, growing its network to more than 1,500 employees and more than 110 offices globally. Following a strategic rebrand earlier last year, Rimkus has enhanced its existing practice areas to stay ahead of its global clients’ requirements and invested heavily in technology solutions and people which has enabled the company to remain a leader in the industries it serves.
“With strong growth momentum already in place, we are happy to continue our support of Rimkus and to collaborate with HGGC and the management team to grow its market leadership,” said Century Equity Partners.
J.P. Morgan acted as exclusive financial advisor to Rimkus. Baird advised Century Equity Partners, and Piper Sandler advised HGGC.
About Rimkus
Rimkus is a worldwide provider of engineering and technical consulting to corporations, insurance companies, law firms, and government agencies. Rimkus experts specialize in forensic consulting, dispute resolution and construction management services, solutions for the built environment, and human factors support for the consumer, industrial, and healthcare industries. For more than 40 years, the company’s professional engineers, architects, scientists, and technical specialists have been recognized for their commitment to service excellence by local, national, and international business communities. Rimkus operates more than 110 offices worldwide. For more information, visit http://www.rimkus.com.
About HGGC
HGGC is a values-driven, partnership-focused private investment firm. The firm’s ecosystem of investors, operators, and professionals are united by the shared mission to develop leading enterprises and build long term value together. HGGC invests in technology, business services, financial services and consumer enterprises generally valued between $200M - $1.5B+. The firm is based in Palo Alto, CA and manages over $6.9 billion in cumulative capital commitments. Since its inception in 2007, HGGC has completed more than 600 platform investments, add-on acquisitions, recapitalizations, and liquidity events with an aggregate transaction value of over $71 billion. More information, including a complete list of current and former investments, is available at www.hggc.com.
About Century Equity Partners
Century Equity Partners, LLC ("Century") is a Boston based private equity firm that provides capital to lower middle market companies seeking investments to support growth or fund acquisitions, partial buyout or recapitalization opportunities. Century focuses on companies operating across the insurance, asset & wealth management, specialty finance, and banking and lender services sectors.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240222986445/en/
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Contacts
Media
For Rimkus
Victoria Cook
Pierpont Communications for Rimkus
vcook@piercom.com
+1-713-627-2223
For HGGC
Trevor Blaisdell
Stanton
TBlaisdell@StantonPRM.com
+1-646-502-3532
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