HIG Capital Strengthens European Platform with Mobility Exit, Circular Economy Bet, and Healthcare Expansion

Miami-based investment firm H.I.G. Capital used August to demonstrate the reach of its pan-European strategy, balancing profitable exits with new acquisitions in sectors poised for long-term growth. From selling a Spanish mobility operator to acquiring a Finnish recycling platform and striking a deal for a Spanish healthcare provider, the $70 billion firm showed how diversification and timing underpin its approach.

The European transactions were matched by platform-building moves across lending and secondaries, including the close of a record $5.9 billion direct lending fund and the creation of a GP-led solutions unit staffed by senior hires from Morgan Stanley.

Profitable Exit from Spanish Mobility Leader

H.I.G. Capital Infrastructure finalized the sale of EYSA Group to Tikehau Investment Management, concluding a rapid value-creation program launched in May 2022. Initially a regional Spanish parking operator, EYSA grew into a global smart mobility platform under H.I.G.’s ownership.

In just three years, the company more than doubled EBITDA and executed five strategic acquisitions. Today EYSA operates around 330,000 parking spaces across 270+ contracts in over 30 countries, offering integrated services ranging from tolling and traffic management to low-emission zone enforcement.

“H.I.G. has been instrumental in positioning EYSA as a market leader, helping the company expand into new, high-growth markets,” said CEO Javier Delgado, praising the backing that enabled both international expansion and a pivot toward sustainability-focused solutions.

Andrew Liau, H.I.G.’s Head of Europe Infrastructure, underscored the significance of the transformation: “The EYSA team has done an outstanding job transforming the company from a single-market operator to a global platform and leader in the sustainable mobility solutions space, as demonstrated by the very attractive investment returns this exit has generated.”

Expanding in the Nordic Circular Economy

On the acquisition side, H.I.G. Infrastructure secured majority control of Fluo Group, a Finnish waste management company that embodies the circular economy model. Fluo’s integrated operations cover the full lifecycle—collection, sorting, treatment, and recycling—turning recovered materials into plastics, infrastructure pipes, and lubricants.

The platform services more than 3,000 businesses and 35,000 households through long-term public-private partnerships across Ostrobothnia and Eastern Finland.

“This investment marks a significant milestone in Fluo’s journey to develop circular economy solutions,” said CEO Petri Aaltonen. “We look forward to partnering with H.I.G. to deliver even greater value to municipalities, businesses, and the environment.”

For H.I.G., the deal taps into regulatory momentum across Scandinavia, where governments are tightening waste reduction and recycling mandates. The firm intends to broaden Fluo’s reach into new waste streams and pursue add-on acquisitions to consolidate the Nordic market.

Building a Healthcare Platform in Spain

H.I.G. also signed a definitive agreement to acquire majority ownership of Avanta Salud Integral, Spain’s leading provider of occupational health and safety services. Headquartered in Valencia, Avanta operates more than 250 medical centers and mobile units, serving 100,000 corporate clients and over one million employees.

Its offerings include mandatory services under Spanish and EU workplace regulations—health surveillance, risk assessment, training, and compliance consulting—as well as elective programs such as mental health support and absenteeism management.

Founder and president Josep Pla, who will reinvest alongside H.I.G., said the partnership ensures continuity while opening new avenues for growth: “Our commitment to delivering the highest-quality services has been key to bringing us to where we are today. H.I.G.’s deep healthcare and business services expertise, combined with its pan-European presence, makes it the ideal partner for our next chapter.”

Rohin Jain, Managing Director at H.I.G. Capital Middle Market Europe, highlighted Avanta’s defensive characteristics: “The business delivers mission-critical services to employers while improving the health and productivity of over a million workers. We are thrilled to partner with the management team to broaden Avanta’s regional coverage and elective service capabilities.”

Platform Development Beyond Europe

The European deals dovetailed with a record fundraising milestone: the $5.9 billion close of H.I.G. WhiteHorse Middle Market Lending Fund IV, the largest in the fund family’s history. Since inception, the WhiteHorse strategy has deployed about $18 billion across 285+ senior secured loans to companies with EBITDA of $30–100 million.

At the same time, H.I.G. launched a GP Solutions Platform to pursue continuation vehicles and GP-led transactions, recruiting four senior professionals from Morgan Stanley’s secondaries division. The new team is led by Managing Director Dan Wieder, alongside Yash Gupta, Austin Gerber, and Joe Holleran.

To further strengthen its lower middle market focus, the firm appointed Harrison B. Davis as Managing Director in its Small-Cap & Growth division, adding to a 40-person team dedicated to scaling smaller companies.

Founded in 1993 by Sami Mnaymneh and Tony Tamer, H.I.G. Capital today operates from 19 offices across North America, Europe, Latin America, the Middle East, and Asia. The firm has invested in more than 400 companies since inception, with current portfolio companies generating over $53 billion in combined revenues.

For H.I.G., August underscored the durability of its multi-strategy model. By combining exits that crystallize value with acquisitions that build new platforms, the firm is reinforcing its reputation as one of the most versatile players in global private markets.