HGGC hired Dan Stanko as principal and also hired three executive directors: Chad Clawson, Bennett Nussbaum and Scott St. Clair. Matt Roesch got promoted to Vice President. The company merged its portfolio with General Atlantic in 2018 in order to counteract the “Amazon effect”. HGGC had a direct dialogue with the companies under General Atlantic instead of an auction process. Under General Atlantic is the company Mi9 Retail, who they will merge with its portfolio company, MyWebGrocer. As companies such as Sears keep filing for bankruptcy protection, HGGC found it imperative to find a solution to the Amazon effect that brick and mortar stores are experiencing. According to Pitchbook, HGGC is taking over HelpSystems for $1.2 billion and was in talks to complete a $555 million patent purchase of RPX, before it closed the deal.
HGGC was co-founded by former San Francisco 49ers quarterback Steve Young. HGGC is a leading middle-market private equity firm and has more than $4.3 billion in cumulative capital commitments. It’s based in Palo Alto, California and believes in an “Advantaged Investing” approach. The company has completed more than 90 investments and acquisitions. THey typically invest between $50 and $100 million into its new investments.
Colin Phinisey has joined the team to lead capital market efforts and Christopher Guinn joined as Executive director. These additions to their team come from financial and business brands, which they believe will help it to execute its investment strategy that has helped the company to become so successful in recent years. The company has tripled its revenue and EBITDA, and doubled its staff since July 2016. They have plans to continue to build their team with excellent people that will have the ability to help the company execute its business model.