HIG Capital completes the sale of Quicken to Aquiline Capital Partners

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SAN FRANCISCO – (BUSINESS WIRE) – HIG Capital (“HIG”), a leading global alternative investment firm with more than $ 45 billion in equity under management, today announced that a subsidiary sold Quicken Inc. (“Quicken” or the “Company”) to Aquiline Capital Partners (“Aquiline”).

Quicken is a leading provider of personal financial management (“PFM”) software and services. Its personal finance software and apps allow users to track and categorize bank and card transactions, pay bills, track and manage investments, budget, and retirement planning, among others. The Quicken product line includes solutions that meet the different financial needs and preferences of users across all systems (Mac and Windows) and devices (desktop, mobile and web), providing consumers with flexible access to their finances. After a successful carve-out transaction from Intuit, Inc., HIG worked with Quicken management to move the company to a subscription-only model, improving core product functionality to increase overall customer satisfaction. , introduce Quicken’s web and mobile companion apps, and launch Simplifi by Quicken, a modern personal finance app designed for digital natives.

“We would like to thank HIG for their support and guidance over the past five years,” said Eric Dunn, CEO of Quicken. “Together, we have strengthened Quicken’s position as a leader in PFM and improved our ability to improve the financial lives of our users. The HIG team has been an excellent partner and a valuable asset as a sounding board for our management team. ”

“We have partnered with the Quicken team to transform the business by focusing on product quality, customer service and innovation. The results have been exceptional, ”said Justin Reyna, Managing Director of HIG. “We are proud of the accomplishments of the Quicken team and know that they will continue to exceed expectations and move the industry forward.

Jefferies acted as exclusive financial advisor and Kirkland & Ellis LLP acted as legal advisor to HIG and Quicken in connection with the transaction. Greenhill & Co was the financial advisor to Aquiline.

About Quicken Inc.

Quicken is America’s # 1 Selling Personal Finance Software For more than 30 years, more than 17 million customers trust Quicken to help them take control of their finances. Quicken’s award-winning suite of personal finance software and applications, including Quicken Starter Edition, Quicken Deluxe, Quicken Premier, Quicken Home & Business, and Simplifi by Quicken, meet a variety of financial needs and device preferences. Simplifi by Quicken, named “Best Budgeting Tools & Apps” by The New York Times Wire Cutter, was added to the Quicken product suite in 2020. Simplifi, a web and mobile application, is designed to help a new generation of digital natives easily stay on top of their finances. Download Simplifi from Google Play or the App Store and learn more at www.simplifimoney.com. Follow @Quicken on Facebook, Twitter and YouTube, and @SimplifiMoney on Instagram, Facebook and Twitter.

About HIG Capital

HIG is a leading global alternative asset investment firm with over $ 45 billion in equity under management. * Based in Miami and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco and Atlanta in the United States, as as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Rio de Janeiro, São Paulo and Bogotá, HIG specializes in the provision of debt and equity capital specific to small and medium-sized enterprises, using an added -approach:

  1. HIG’s equity funds invest in executive buyouts, recapitalizations and spin-offs of both profitable and underperforming manufacturing and service companies.

  2. HIG Debt Funds invest in senior, unitranche and junior debt financing to companies of all sizes, both on a primary basis (direct origination) as well as in secondary markets. HIG is also a primary manager of CLO, through its WhiteHorse family of vehicles, and operates a publicly traded BDC, WhiteHorse Finance.

  3. HIG’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.

  4. HIG Infrastructure focuses on making value-added and core plus investments in the infrastructure sector.

Since its inception in 1993, HIG has invested and managed more than 300 companies around the world. The company’s current portfolio includes more than 100 companies with combined sales of over $ 30 billion. For more information, please visit HIG’s website at www.higcapital.com.


* Based on total capital commitments managed by HIG Capital and its subsidiaries.

Justin reyna

General manager

jreyna@higcapital.com

Source: HIG Capital



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