BIC Graphic sale finalized at $80M
After about a month, BIC has completed the sale of its local graphics operations to a global U.S. private equity firm.
The Asset and Share Purchase Agreement was signed June 6, with the purchase finalized Friday, June 30.
H.I.G. Capital, a private equity firm, invests in companies throughout the U.S. and Europe. According to the company website, the firm aims to help build businesses of significant value.
"We are excited about partnering with H.I.G. for the next stage of our growth," said marketing director Melissa Ralston. "We will continue our ongoing commitment to safety and compliance and are well positioned to broaden and deepen our customer relationships."
Looking ahead, BIC Graphic will have additional investments in service, Ralston said, including product development and improved manufacturing capabilities and printing improvements.
BIC Graphic is located at 5151 Moundview Drive.
BIC acquired Norwood in 2009. The company has approximately 450 employees and supplies custom-imprinted products for the promotional purposes.