Today, HIG Capital had announced its Brazilian affiliate acquired a majority stake in Eletromidia. The latter is one of the biggest players in the out of home advertising industry. HIG and its affiliate would continue their positions of leading Eletromidia.

Eletromidia was established in 1993 and operates as an advertising company. The advertising firm reaches more than 6 million people daily through its advertising solutions. Eletromidia also manages urban furniture, digital outdoor displays and indoor networks in 18 cities in Brazil.

According to HIG CEO and co-founder Paulo Badra, "H.I.G.'s investment will enable Eletromidia to participate in larger projects and fuel our organic expansion plans. Through this partnership, we are confident that we will improve the reach and depth of our advertising network, adding more value to our clients."

Fernando Marques Oliveira, Managing Director and Head of H.I.G. Brasil and H.I.G. Latin America said, "Eletromidia is a unique asset with a spectacular team and growth prospects. We are excited to support management in Eletromidia's next expansion phase, developing new advertising solutions and positively impacting the entire industry."