Private Equity Firm Acquires Hospitality Technology Services Provider Enseo
Private equity firm H.I.G. Capital has acquired Enseo, a technology services provider that is expanding from the hospitality vertical into senior living, education, and healthcare. Terms of the deal were not disclosed.
This is technology M&A deal number 350 that ChannelE2E has covered so far in 2021. See all technology M&A deals for 2021 and 2020 listed here.
Enseo plans to use the investment to rapidly accelerate growth, both organically and inorganically, according to the company.
If the name Enseo isn’t necessarily familiar, many people are likely familiar with the company’s offerings. The Plano, Texas-based company provides in-room entertainment, high-speed internet access, and digital signage in the hospitality, retail and health care sectors.
CEO Vanessa Ogle founded the company in 2000. Ogle will remain chairman of the board and continue as interim CEO until a new CEO is named, the company announced. The company’s current management team will remain on board.
H.I.G. Acquires Enseo: Executive Commentary
Todd Ofenloch, managing director at H.I.G., commented:
“H.I.G. is excited to partner with founder-led companies like Enseo that are leaders in their fields. Enseo is uniquely positioned to build upon its meaningful innovations in this market to address some of the major challenges in the industry, including employee safety systems, IoT room controls, and contactless technologies. We look forward to working with the Enseo management team to support their growth initiatives.”
Vanessa Ogle, founder and chairman of Enseo, said:
“H.I.G.’s investment is a testament to Enseo’s unique capabilities, leading market position and substantial opportunity for growth. Enseo’s success is a result of its amazing team, loyal customers, and committed vendor partners who worked hand-in-hand with us to successfully navigate the effects of COVID-19 on the travel industry. The best is truly yet to come.”
H.I.G. Capital: Technology Solutions Experience
H.I.G. Capital knows its way in and around the IT services, cloud and managed services markets, and the SMB digital technology industry. The private equity firm’s investment portfolio includes Hibu Group, a Facebook, Google and Microsoft partner that provides digital marketing services to small and medium-sized businesses (SMBs) across the United States.
Also, H.I.G. Capital invested in Eze Castle, a financial services MSP, in June 2018. At the time, Eze Castle claimed to have more than 650 alternative investment and financial sector customers around the world.