H.I.G. Capital Affiliate Acquires Quisitive Technology Solutions

Quisitive Acquires Mazik Global

March 22, 2021

Cloud & SaaS

Quisitive Technology Solutions Inc. acquired Mazik Global Inc., a Chicago-based Microsoft ISV that provides healthcare-focused cloud solutions including the MazikCare platform and VaccineFlow. The acquisition adds Mazik's IP, roughly 50 employees and a Chicago hub to Quisitive, expanding Quisitive's healthcare capabilities and U.S. footprint.

Quisitive Acquires Catapult Systems for US$51.5M

November 8, 2021

IT Services

Quisitive Technology Solutions, Inc. agreed to acquire Austin-based Catapult Systems, LLC for US$51.5 million in cash. The deal expands Quisitive's Microsoft-focused cloud and security capabilities, increases recurring revenue, and strengthens its presence in the U.S. market.

Quisitive Sells BankCard USA to BUSA Acquisition Co.

March 27, 2024

Payments & Fintech

Quisitive Technology Solutions has entered into an agreement to sell its BankCard USA Merchant Services business to BUSA Acquisition Co., a Nevada entity backed by a consortium of BankCard employees and third‑party investors, for US$40.0 million plus other consideration and settlement of prior earnout obligations. The transaction is a divestiture intended to simplify Quisitive into a pure‑play Microsoft Cloud and AI provider, reduce debt and improve its pro forma adjusted EBITDA; the acquiror secured senior secured financing from WhiteHorse Capital to fund the deal.

H.I.G. Capital Invests in ThoughtFocus

November 2, 2022

IT Services

H.I.G. Capital (through an affiliate) completed a growth investment in ThoughtFocus, a U.S.-headquartered provider of digital services and technology-enabled operations serving primarily the financial services sector. The capital will support ThoughtFocus’s continued growth, expansion of services and solutions, and further development of its global delivery capabilities.

Quisitive Acquires BankCard USA

March 29, 2021

Payments & Fintech

Quisitive Technology Solutions Inc. entered into an agreement to acquire BankCard USA Merchant Services, Inc. for US$100 million in cash plus the issuance of 50,000,000 common shares and a potential earn-out of up to US$20 million. BankCard USA, based in Westlake Village, California, processes over US$3.0 billion in payments annually, reported LTM revenue of US$29 million and LTM adjusted EBITDA of US$11 million, and will be integrated into Quisitive's LedgerPay payments platform; the deal is expected to close in Q2 2021 subject to approvals.

H.I.G. Capital Acquires Hibu Group (USA), Inc.

March 26, 2021

Marketing & Advertising

An affiliate of H.I.G. Capital has signed a definitive agreement to acquire Hibu Group (USA), Inc., a Cedar Rapids–based provider of integrated digital marketing services for small and medium-sized businesses. H.I.G. said the investment will support Hibu's next phase of growth and product innovation; the seller is Hibu Group Limited (UK).