Next Generation Vending Acquired by HIG Capital

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Michael Phillips, a Managing Director at H.I.G. Capital commented on the Acquisition of Next Generation Vending.

Michael Phillips, a Managing Director at H.I.G. Capital commented on the Acquisition of Next Generation Vending, “We are very excited to invest in Next Generation along with its exceptional management team. Management’s outstanding track record and demonstrated ability to close 11 acquisitions over the past 3 years, while at the same time significantly improving profitability, is a testament to the team’s capabilities and depth. We look forward to assisting Next Generation to maintain its leadership position as the largest vending company in the Northeast and to continue to grow its footprint and implement RMS technology.”

Michael is a Managing Director based in H.I.G.'s Boston office. He is responsible for investment origination, transaction negotiation, and portfolio company oversight. Michael has led numerous LBO transactions with a focus on business services, manufacturing, automotive components, commodity-based enterprises, consumer products, and information technology, and currently serves on the board of directors for several H.I.G. companies.

Michael has more than ten years of M&A/private equity experience, working with firms ranging from mid-market, privately-held organizations to multi-national public organizations. Prior to joining H.I.G., Michael was with Bain & Company, one of the world's leading management consulting firms. While at Bain, Michael directed diligence efforts for leading private equity investors, helping to improve investment returns. He also has significant experience with post-merger integration, developing growth strategies and the implementation of operational improvement initiatives at mid-market and large cap companies. Previously, Michael worked in private equity at Electra Partners on LBO transactions and growth equity investments and in investment banking at Lehman Brothers.

Michael earned his Bachelor of Science in Engineering degree from Princeton University and an M.B.A. from the Wharton School at the University of Pennsylvania.

H.I.G. Capital is a leading global private equity investment firm based in Miami. The firm has more than $8.5 billion of capital under management. H.I.G. specializes in providing capital to small and medium sized businesses and has offices in Atlanta, Boston, New York and San Francisco, as well as Hamburg, London and Paris in Europe.


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