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H.I.G. Capital Announces Sale of Brazilian Portfolio Company Desktop to Claro

AMX
  • H.I.G. Capital announced a definitive agreement for an affiliate to sell portfolio company Desktop S.A. to Claro Telecom Participações S.A., a subsidiary of América Móvil.
  • The transaction is valued at R$4.0 billion (approximately $750 million inclusive of debt), implying a price per share of R$20.82 based on Desktop's net debt as of September 30.
  • Closing of the sale is subject to customary conditions precedent & approvals from Brazilian regulatory authorities.
  • Since H.I.G.'s acquisition, Desktop executed a growth strategy involving 10 strategic acquisitions to build a leading fiber platform in Brazil.
  • Desktop expanded its subscriber base from approximately 150,000 to over 1.2 million while serving more than 200 cities in São Paulo with a fiber network spanning over 58,000 km.
  • H.I.G. supported Desktop's successful initial public offering on the Brazilian Stock Exchange (B3: DESK3) in February 2021, making it the first publicly listed ISP in Brazil.
  • Desktop serves over 1.2 million subscribers across 200+ cities with a network reaching approximately 4.8 million homes passed as of year-end 2025.
  • Fernando Marques Oliveira, Managing Director & Head of H.I.G. Latin America, highlighted the successful value creation & attractive investor returns generated through the transaction.
  • Claro is a leading telecommunications operator in Latin America & a subsidiary of América Móvil, which has operations in over 30 countries with over 300 million wireless subscribers.
  • H.I.G. Capital is a global alternative investment firm with $74 billion of capital under management & has invested in over 400 companies worldwide since 1993.