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HIG Capital sells Safe-Guard to Goldman Sachs

US-based private equity investment firm HIG Capital has completed the sale of Safe-Guard Products International to an affiliate of Goldman Sachs, a global investment banking, securities and investment management firm.

Further terms of the deal, however, have not been disclosed.

Georgia-based Safe-Guard offers finance and insurance (F&I) products to the automotive aftermarket industry as well as the RV, marine and motorcycle/power sports segments.

HIG Capital managing director Bret Wiener said, "Management has successfully executed the strategic initiatives in channel development, program expansion and risk management which formed our investment thesis and enabled the Company to nearly triple annual revenue since our investment."

With over $10bn of equity capital under management, HIG Capital has offices in Atlanta, Boston, Chicago, Dallas, New York, San Francisco, London, Hamburg, Madrid, Paris, and Rio de Janeiro.

Established in 1993, the firm has invested and managed more than 200 companies globally and has experience in financial restructurings and operational turnarounds.