H.I.G. Completes Sale of Velocity Solutions

H.I.G. Capital ("H.I.G."), a leading global alternative investment firm with $65 billion of capital under management, is pleased to announce the sale of its portfolio company Velocity Solutions ("Velocity" or the "Company") to CSI, a leading provider of end-to-end financial software and technology solutions. Terms of the transaction were not disclosed.

Founded in 1995, Velocity offers financial institutions best-in-class account acquisition, customer engagement, and retention solutions, as well as intelligent software for monitoring consumer liquidity through overdraft management. With a track record spanning nearly 30 years, Velocity currently services more than 30 million consumers and business owners. Through the Velocity Intelligent Platform®, the Company's powerful analytics support banks and credit unions in managing risk while driving revenue and account holder engagement.

H.I.G. acquired Velocity from the company's founders in December 2017. During H.I.G.'s ownership, the Company executed upon several strategic initiatives, investments, and synergistic add-on acquisitions that drove significant growth.

Christopher Leonard, Velocity's CEO, said, "H.I.G. has been a fantastic partner to Velocity and pivotal in helping us execute our strategic goals. H.I.G. added significant value to our business and our leadership team while supporting strategic investments in our business and strengthening our ability to provide differentiated solutions and services to our clients. We are grateful for H.I.G.'s support and are excited to continue the next chapter of our growth with CSI."

Keval Patel, Managing Director at H.I.G. Capital, commented, "Working with Christopher and the Velocity team has been a pleasure. They have done a phenomenal job executing and growing the business during our partnership. We are confident that Velocity will continue to build upon its record of growth and look forward to following the Company's future success."