Headwaters MB advised Pico Digital ("Pico" or the "Company"), a leading international telecommunications technology company serving radio and television broadcasters, content providers, hospitality, and commercial markets, on its sale to H.I.G. Capital.

Headquartered in San Diego, California, the Company is dedicated to developing best-in-class communication products, systems, and services, including digital and analog headends, and content distribution and processing solutions. Following H.I.G.’s recent acquisitions of ATX and InnoTrans, the partnership with Pico provides H.I.G. the necessary leverage to continue to grow their portfolio companies organically across the telecom and broadband space.

“Through their robust process and exceptional industry knowledge, the team at Headwaters helped us unlock the value in Pico Digital. We greatly benefitted from their level of professionalism in guiding us through the stages of this transaction,” said Ian Lerner, CEO of Pico Digital.

Carlos Shteremberg, President of Pico Digital, added, “The merger with ATX will allow us to accelerate our growth both domestically and internationally. We are very pleased with this outcome for Pico, our customers and vendors.”

Paul Janson, President and COO of Headwaters MB, commented, “The PICO management team is one of the most technically sophisticated that we have ever had the pleasure to represent.  They have done a remarkable job building, diversifying and expanding the business. Their efforts have poised the organization for growth as a portfolio company of HIG Capital.”

Terms of the transaction were not disclosed.

About Pico Digital
Pico Digital is an international telecommunications technology company serving radio and television broadcasters, content providers, hospitality, and commercial markets in more than 30 countries. Headquartered in San Diego, California, the company is privately held and dedicated to developing best-in-class communication products, systems, and services, including digital and analog headends, and content distribution and processing solutions. Pico Digital products are designed and manufactured in San Diego, California. Additional information about Pico Digital Inc. is available at www.picodigital.com.

About H.I.G. Capital
H.I.G. Capital is a leading global private equity investment firm with $21 billion of equity capital under management.* Our team of over 250 investment professionals has substantial operating, consulting, technology and financial management experience, enabling us to contribute meaningfully to our portfolio companies. We invest in companies throughout the U.S. and Europe and have offices in Miami, New York, Boston, Chicago, Dallas, Los Angeles, San Francisco and Atlanta in the U.S., and affiliate offices in London, Hamburg, Luxembourg, Madrid, Milan and Paris in Europe as well as Bogotá, México City and Rio de Janeiro in South America. For more information, visit www.higcapital.com.