Private Equity Buys Hotel Guest Room Tech Provider Enseo
Photo Credit: Example of an in-room entertainment display run by Enseo, a hotel tech company based in Plano, Texas, that was acquired in June 2021 by private equity firm H.I.G. Enseo
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Private equity firm HIG Capital has taken a majority stake in Enseo, a provider of digital in-room entertainment tech for hotels. Enseo plans to grow through acquisition. The deal is a validation of founder and CEO Vanessa Ogle's bold pivot of the tech vendor.
H.I.G. Capital, a private equity and alternative assets investment firm, has acquired a majority interest in Enseo, a company that's best known for delivering in-room digital entertainment via hotel TVs. Properties flagged with brands such as Marriott, Hilton, and La Quinta use Enseo's tech in almost 1,900 hotels in North America.
The companies didn't disclose the transaction value or deal terms in Monday morning's announcement. Enseo had been fully bootstrapped. With this deal, founder and CEO Vanessa Ogle retains some equity and moves to the role of chairman of Enseo, based in Plano, Texas.
H.I.G., based in Miami and with $44 billion of equity capital under management, also acquired Catapult Tech, Enseo's sister company.
On June 2, H.I.G arranged a $55 million first-lien term loan investment and a $5 million revolving line of credit, according to a financial filing.
"H.I.G. is absolutely building a war chest to be able to do M&A [mergers and activities]," Ogle said. "
