H.I.G. Capital Strengthens European Presence Through Healthcare and Workwear Acquisitions

European market expansion has accelerated for H.I.G. Capital through recent acquisitions targeting healthcare services and essential business operations across multiple countries. The investment firm’s strategy emphasizes companies with resilient business models and expansion opportunities across continental markets, positioning H.I.G. to benefit from regulatory tailwinds and consolidation trends.

The firm’s acquisition of Avanta Salud Integral marks a major commitment to occupational health and safety services. Headquartered in Valencia, Spain, Avanta serves more than 100,000 clients covering over one million employees through a network exceeding 250 medical centers and mobile units across the country.

“Josep and his team have built a best-in-class platform in Avanta — combining scale, quality, and exceptional integration capabilities in a highly resilient and regulated sector,” said Rohin Jain, Managing Director at H.I.G. Middle Market Europe. “The business delivers mission-critical services to employers while improving the health and productivity of over a million workers.”

Josep Pla, President and Founder of Avanta Salud, emphasized the partnership’s strategic value: “We are incredibly proud of what we have built at Avanta, a family of almost 2,500 outstanding professionals, trusted by thousands of businesses to keep their employees safe, healthy, and supported.”

Textile Services and Industrial Workwear Platform

France Workwear’s acquisition from Rentokil Initial demonstrates H.I.G.’s focus on essential service providers with subscription-based revenue models. The full-cycle textile services company specializes in workwear design, rental, laundry, and repair operations serving over 21,000 customers across diverse industries.

“France Workwear has long been recognised as a foundational player in the French textile services market, providing mission-critical workwear, flat linen, and hygiene solutions,” said Tobias Borkowski, Managing Director at H.I.G. The company operates 34 sites with a nationwide logistics network supporting long-term customer relationships.

Fabrice Shoshany, CEO of France Workwear, outlined growth objectives following the transaction: “This partnership marks the start of a new chapter for France Workwear – one where we will strengthen our leadership in textile rental services, broaden our focus on innovation and sustainability, and continue to deliver exceptional value to our clients.”

The business will undergo rebranding and operate under a new name in early 2026, reflecting its independence from Rentokil while maintaining service continuity for existing customers. H.I.G.’s approach to corporate carve-outs emphasizes preserving operational capabilities while implementing growth initiatives.

Pharmaceutical Services and Healthcare Infrastructure

ITH Group’s acquisition showcases H.I.G.’s investments in specialized healthcare services requiring technical expertise and regulatory compliance. The UK-based provider of aseptic pharmaceutical compounding services prepares bespoke injectable medications for patients with specialized medical needs that existing treatments cannot address.

Founded in 2008, ITH holds market-leading positions in chemotherapy, total parenteral nutrition, and central intravenous additive services. The company provides high-quality medications for both adults and neonates while operating a digital pharmacy serving private and NHS patients.

“I’m delighted to welcome H.I.G. as a key investor in the ITH Group,” said Adam Bloom, CEO. “Since our founding, ITH has consistently grown by investing in our people and enhancing the services we provide to patients. Today, we are proud to be a leading provider of compounding services in the UK.”

John Harper, Managing Director and Head of the H.I.G. Europe Lower Middle Market LBO team in London, noted the company’s market position: “We are delighted to be supporting Adam, Karen, and their team to further build upon ITH’s success. The Company’s track record of reliably providing compounded pharmaceuticals to NHS and private customers in an inherently undersupplied market underpins an exciting next chapter.”

H.I.G. Capital’s European Investment Strategy

The firm’s European operations have expanded significantly through dedicated teams in Hamburg, London, Luxembourg, Madrid, Milan, and Paris. This presence enables deal origination and portfolio company support across diverse regulatory environments and market conditions.

Markus Noe-Nordberg, Managing Director and Head of H.I.G. Europe Middle Market Private Equity, emphasized the firm’s approach to European investments: “We are thrilled to have the opportunity to invest in France Workwear, a business at the forefront of textile rental services with an exceptional track record of quality and innovation.”

European healthcare markets offer attractive characteristics including aging demographics, regulatory stability, and fragmented competitive landscapes. H.I.G.’s investments in Avanta Salud and ITH Group target companies positioned to benefit from these trends while providing essential services to healthcare systems and employers.

Occupational health services face growing demand as employers navigate complex workplace safety regulations and employee wellness initiatives. Avanta’s comprehensive service offering addresses both mandatory compliance requirements and elective health programs that reduce absenteeism and improve workforce productivity.

Regional Platform Development

H.I.G.’s European strategy emphasizes building regional platforms through acquisitions that strengthen market coverage and service capabilities. The firm works with management teams to identify add-on acquisition opportunities and geographic expansion possibilities that enhance competitive positioning.

Avanta Salud’s network across Spain provides a foundation for expansion into other European markets with similar regulatory frameworks and employer demand for occupational health services. The company’s scale and service breadth create advantages in serving multinational corporations and large domestic employers.

France Workwear’s nationwide logistics network and customer relationships position the company for growth through service expansion and potential acquisitions of regional textile service providers. The subscription-based revenue model provides stability while generating opportunities for cross-selling additional services.

ITH Group’s pharmaceutical compounding capabilities address chronic supply shortages in UK healthcare markets, creating expansion opportunities through increased production capacity and service line development. H.I.G.’s partnership with founders Adam Bloom and Karen Hamling preserves operational expertise while providing capital for growth investments.

Market Dynamics and Competitive Landscape

European middle market companies face opportunities from industry consolidation, technological adoption, and cross-border expansion. H.I.G.’s investment approach targets businesses with defensible market positions and growth potential through operational improvements and strategic acquisitions.

Healthcare services consolidation continues across European markets as private equity firms and strategic buyers seek companies with specialized capabilities and recurring revenue. H.I.G.’s healthcare investments benefit from sector expertise developed through numerous transactions across geographies and subsectors.

Textile services markets remain fragmented despite concentration among larger providers, creating acquisition opportunities for well-capitalized platforms seeking market share gains. France Workwear’s scale and service quality provide competitive advantages in serving customers requiring nationwide coverage and consistent quality standards.

Pharmaceutical compounding services address regulatory requirements and supply chain challenges that constrain traditional pharmaceutical manufacturers. ITH Group’s technical capabilities and quality certifications enable the company to serve healthcare providers requiring customized medications for specialized patient populations.

Operational Value Creation in European Markets

H.I.G.’s European portfolio companies benefit from operational support across functions including finance, technology, marketing, and business development. The firm’s hands-on approach involves working with management teams to implement best practices while respecting local market conditions and cultural considerations.

Avanta Salud’s future development will emphasize expanding elective health services, improving technology platforms, and strengthening regional coverage across Spain and potentially other European markets. The company’s founder will reinvest alongside H.I.G., ensuring continuity in strategic direction and operational execution.

France Workwear’s rebranding and independence create opportunities for market repositioning while maintaining customer relationships built over decades of service delivery. H.I.G.’s experience with corporate carve-outs provides expertise in managing transitions while preserving operational capabilities.

ITH Group’s capacity expansion initiatives will address growing demand from NHS and private healthcare providers seeking reliable pharmaceutical compounding services. H.I.G.’s capital support enables investments in production facilities, quality systems, and workforce development that strengthen the company’s market position.

European investment activity continues reflecting H.I.G.’s commitment to building a diversified portfolio across sectors and geographies. The firm’s track record in European markets demonstrates its ability to identify attractive opportunities, partner with strong management teams, and create value through operational improvements and strategic growth initiatives.