HGGC is a San Francisco, California-based private equity firm that was founded in 2007. The firm has carved out a niche for itself over its 12-plus years of operation, seeking out middle-market companies that compete among the top few most reliable sectors across the global world of commerce. HGGC then purchases them and operates them on a long-term basis.
This is different from most private equity firms, which usually turn right around and flip the companies it acquires just a few years after purchase. For example, the firm recently welcomed Mi9 Retail as its most recent acquisition, which came through a merger with one of HGGC’s long-held companies, MyWebGrocer. Most private equity sector competitors wouldn’t bother with growing a company they already owned, as they aren’t concerned with the long-term operating potential of the companies they buy in to.
HGGC chose to hire a dozen new employees to its ranks to better deal with the responsibilities presented by its constantly-growing operations.
Steve Young says the NFL is heading towards being like the NBA with big-name players demanding trades. pic.twitter.com/KOxzbqhNB1
— ESPN (@espn) September 17, 2019
Examining the firm’s high-level additions
HGGC’s operations team welcomed six total new hires, three of which bought into the company as partners. These three partners – Matt Witherell, Rich Gros, and Ankit Dhawan – all worked for one of the firm’s affiliate businesses, Operational Resource Group, making them suitable fits the role of Operating Partner.
Philanthropy Lead is the new title of recent hire Michelle Knox, who has overseen non-profit organizations for upwards of 20 years. Knox most recently worked for the Forever Young Foundation, a charitable non-profit group.
Looking at investment associate hires
Recent Credit Suisse investment banking analyst Ignacio de Lera was hired by HGGC, where he spent most of his time on structuring leveraged buyouts, making de Lera an ideal candidate.
Ryan Lee, who worked at Morgan Stanley, a financial services sector competitor similar in prestige and size to Credit Suisse, most recently before being brought aboard by the Silicon Valley-based private equity firm. The University of North Carolina graduate developed a deep understanding of and working familiarity with using advanced mathematical models – as well as actually creating them – to assess potential companies to invest in via leveraged buyouts.