HIG Capital injects cash into Engine Group
UK marketing communications agency Engine Group has secured a £32.5m investment from HIG Capital to fund expansion into the US, Brazil and China.
The investment from HIG forms part of a total £62.5m round for the company, which will have access to a further £30m over the next 12-24 months as it expands. HIG Capital's stake is thought to be less than 40%.
Recently, Engine has announced that it was postponing a planned IPO. The company hopes to be in the Chinese and US markets by the end of the 2011 first quarter.
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