American Securities to acquire Trace3 from H.I.G. Capital.

American Securities, a private equity firm, agreed to acquire Trace3, a provider of information technology and consulting services, from H.I.G. Capital. Financial terms were not disclosed. "Trace3's deep engineering expertise, extensive suite of capabilities, and differentiated focus on emerging technology uniquely positions the Company to address evolving technology challenges for its clients. We are excited to partner with Rich and team to further fuel Trace3's industry leading platform. We believe that our experience in the industry allows us to deliver value that will enhance the Company's great growth trajectory," Kevin Penn, American Securities Managing Director.