H.I.G. and Bayside Exit Service Net

H.I.G. Capital and Bayside Capital have completed the sale of Service Net to Chartis, a subsidiary of American International Group (NYSE: AIG). H.I.G. has partnered with Service Net in two separate transactions. In 2004, H.I.G. recapitalized Service Net and successfully exited its investment in 2007. Then, in 2009, H.I.G. affiliate Bayside Capital repurchased the company's assets in a public auction.