HALO To Be Acquired By TPG Growth

Counselor Top 40 distributor HALO Branded Solutions (asi/356000) announced today that it is being acquired by TPG Growth, a platform of global alternative investment firm TPG. Financial terms of the deal, which is expected to close in the second quarter, were not disclosed.

“At HALO, we strive to provide our clients with innovative, customized solutions that showcase their brand and values,” said Marc Simon, the firm’s CEO. “TPG Growth is a hands-on partner that understands our business and supports our vision. We look forward to leveraging their growth and business-building expertise as we continue to expand and enhance operations.”

HALO CEO Marc Simon

TPG, which has approximately $13.5 billion of assets under management, is buying HALO from Audax Private Equity. Audax acquired HALO in 2016.

“In HALO, we saw the opportunity to acquire an industry-leading platform that’s supported by best-in-class leadership and sales teams,” said Shamik Patel of TPG Growth. “HALO is well-positioned to capitalize on its leading position in a fragmented market, and we are excited to partner with Marc and the rest of the HALO team to accelerate the company’s growth, both organically and through acquisitions.”

Simon told Counselor that HALO is already in discussions regarding the possible acquisition of several companies. He also noted that HALO is on track to produce more than $500 million in total 2018 revenue. “We are seeing growth in almost all areas of our business,” Simon said. “We are excited to see our AE’s continue to expand the business they are doing.”

Additionally, Simon told Counselor that there will be no changes to the HALO executive team as a result of the TPG investment. “We will continue to grow our management team as we have been doing,” said Simon, who is excited about what the future with TPG holds. “TPG is one of the largest and most prestigious PE firms in the world,” he told Counselor. “They have a ‘Who’s Who’ list of portfolio companies and can bring many capabilities to bear that will make us a stronger company.”

Counselor ranks HALO Branded Solutions as the fifth largest distributor in the industry after the firm reported 2016 North American promotional products sales of $282.3 million. New rankings will be released in July.

Follow today’s Counselor PromoGram and for more details on this developing story.