TPG Growth, the middle market and growth equity platform of Fort Worth and San Francisco-based private equity investment firm TPG, announced May 18 that it has partnered with management to acquire HALO Branded Solutions, a marketing services platform that distributes promotional products and provides employee recognition services.
TPG Growth acquired the company from Audax Private Equity. Financial terms of the transaction were not disclosed. The transaction, which is expected to close in the second quarter, is subject to customary closing conditions, including regulatory approval.
“At HALO, we strive to provide our clients with innovative, customized solutions that showcase their brand and values,” said Marc Simon, CEO of HALO. “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.”
Headquartered in Sterling, Illinois, HALO partners with more than 60,000 clients across the country to provide creative solutions. The company operates across two business lines: HALO Branded Solutions, one of the world’s largest distributors of promotional products serving many of the largest companies around the globe; and HALO Recognition, which designs and administers employee incentive and rewards programs for enterprise customers. Known for its industry-leading customer service, HALO has a nationwide salesforce of more than 1,200 dedicated and resourceful account executives who provide clients with creative, consultative marketing and recognition solutions. They are supported by a team of more than 500 corporate service professionals.
“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.”