Watchfire, themselves acquired by H.I.G. Capital in July 2022 has continued its own acquisition spree with the purchase of the assets of Spectrum Scoreboards of Houston, Texas, giving the company a complete line of fixed-digital sports scoreboards and timing displays.
Founded in 1971, Spectrum was one of the largest privately-owned manufacturers of sporting event scoreboards. The company pioneered the use of LED technology in fixed-digit scoreboards in 1993 and serves a wide variety of customers that include private and public schools, colleges, parks, and stadiums.
Kyle Dines, VP of Sports, Indoor and Outdoor Advertising at Watchfire, told us “Spectrum shares our commitment to high-quality domestic manufacturing and customer service and provides the ideal complement to Watchfire’s sports product line. Their fixed-digit scoreboards and our video displays are the combination the market needs, and this acquisition puts us in a position to serve schools and sporting facilities of any size. We’ve long been impressed by Spectrum’s products, factory, and processes in Houston, and are excited to leverage their reputation as a market leader in the greater-Texas region, alongside Watchfire’s scale, to grow into a nationally recognized leader in sports. Together we will bring the sports market a single-source solution to all video display and scoring needs.”
Spectrum’s Houston location will remain fully operational, continuing all manufacturing, sales and support functions.
Steve Harriott, CEO of Watchfire, further said “Adding the capabilities of Spectrum, particularly their product set and the team that makes up their service organization, is the next logical step for us in the sports market. Spectrum produces the best fixed-digit option on the market today, and their approach to product development and support after the sale complements Watchfire’s existing high standards.”
H.I.G. is a leading global private equity and alternative assets investment firm with USD 54 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro and São Paulo, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally-focused/value-added approach.
Since its founding in 1993, H.I.G. has invested in and managed more than 300 companies worldwide. The firm’s current portfolio includes more than 100 companies with combined sales in excess of $30 billion.
* Based on total capital commitments managed by H.I.G. Capital and affiliates.
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