H.I.G. Capital's Investment In Hart InterCivic.pdf

- Request: Information about H.I.G. Capital's investment in Hart InterCivic, one of three major U.S. election technology vendors, and H.I.G.'s structure and finances related to this investment.
- Concerns: Potential negative impacts of private equity investment on consumers, workers, communities, and taxpayers, as seen in other sectors (e.g., Toys "R" Us, Shopko). Election technology companies owned by private equity firms may prioritize convenience over security, leaving voting systems vulnerable.
- Election Technology Industry: Highly concentrated, with three large vendors controlling over 90% of the market. Private equity firms reportedly own or control these vendors, but there's limited public information about their operations and financial performance.
- Issues with Concentration: Vendors' power in negotiations with local and state governments can lead to expensive agreements, with vendors profiting from maintenance and leaving little incentive for product improvement.
- Election Security Threats: Outdated voting machines and software, lack of innovation, and vulnerabilities in backend systems pose serious risks to election integrity. Recent incidents, such as votes switching and long lines due to malfunctioning machines, highlight these issues.
- H.I.G. Capital's Involvement: Reportedly owns or has had investments in Hart InterCivic.