A private equity firm based in Palo Alto is taking on what it called “the Amazon effect.”
Consider that once dominant companies like Sears and JC Penney are filing for bankruptcy protection, or on the brink. It’s because these once household words have fallen badly behind — or never truly developed — technological-based operational techniques that behemoths like Amazon not only invented, but continue to innovate within and have mastered.
HGGC is the Palo Alto-based firm ready to take on the “Amazon effect.”
The firm announced recently that it will merge MyWebGrocer with Mi9 retail. Both companies are backed by backed by General Atlantic. The new company will be called Mi9. HGGC is a shareholder along with General Atlantic and Respida Capital. HGGC acquired MyWebGrocer in 2013.
HGGC CEO and co-founder Rich Lawson points out that Amazon spends 20 times as much on R&D that the other top 20 retail companies combined. If other retailers expect to compete, they simply must ramp up their own R&D and adopt the technologies, infrastructure, logistics and distribution strategies that have enabled Amazon to dominate the retail sphere like no other single entity in history.
Lawson added: “Retail is at a tipping point.” He went on to say that his firm has the technology to help those retailers still out there who are struggling to overcome the Amazon effect.
Mi9 Retail is a software provider based in Miami. It assists traditional companies manage merchandise, take and process orders, provides data analytics and point-of-sale technology. Now bolstered by the investment power and vast expertise of the HGGC team, the company is poised to help any retailer anywhere in the world do battle with Amazon — and win.
HGGC was founded in 2007 by former NFL quarterback and Hall of Famer Steve Young along with Richard Lawson, Jon M. Huntsman, Gregory Benson and Robert C. Gay. The firm concentrates its efforts on middle-market companies. It uses a strategy of acquisitions, leveraged buyouts and market recapitalization to bolster the entities it accepts into its portfolio.
Sectors where the firm concentrates its efforts include grocery sales, car dealers, insurance agents, marketing firms and others
http://www.pjsolomon.com/news-and-events/hggc-to-buy-nutritional-supplements-company-in-446m-deal
Bloomberg provides a corporate snapshot of HGGC LLC, billing it as a private equity firm. The report shows HGGC specializes in a broad range of investment endeavors covering a comprehensive number of sectors. The firm’s ventures range from leveraged buyouts, acquisitions, and investments to recapitalization and restructuring. Sectors include business and financial services, manufacturing and industrial concerns, technology and software development, and healthcare. Although the firm primarily invests in North American companies, it is open to global opportunities.
The firm invests with the intention of HGGC LLC taking a majority position or controlling rights with a minority position. The investments typically range from $25 million to $125 million in companies with an EBITDA of $15 million to $75 million and a worth of at least $100 million.
Bloomberg lists the firm’s key executives and founders. Among them are Richard Franklin Lawson Jr., co-founder and chief executive officer, Robert Christopher Gay, co-founder, executive director, and senior adviser, and Lance Riley Taylor as chief financial officer.
In October 2018, BusinessWire announced that HGGC LLC added two new executive members and four associates to its team. The executives are Colin Phinisey, investment banking professional, and Christopher Guinn, executive director. The firm chose the additional members, all from blue-chip company backgrounds, to strengthen its talent pool for expected growth.
The announcement focuses on Colin Phinisey, the appointed capital markets expert. Phinisey comes most recently from Deutsche Bank Securities Inc., where he spent more than eight years. The firm expects Phinisey to guide them in developing best practices to further their financing efforts. Phinisey specializes in mergers and acquisitions, debt finance, and leveraged buyouts.
The interview reports that Lawson states his firm, HGGC LLC, has been involved in financing $4.3 billion in transactions, and he expects transactions to surpass that amount in 2019. Founded in 2007, the Palo Alto-based firm has additional offices in West Palm Beach, Florida, Salt Lake City, Utah, and Foxborough, Massachusetts
https://www.hggc.com/portfolio
Talos Energy is a small company based in Texas. It operates in the United States Gulf of Mexico as well as offshore coast of Mexico. It has 93 employees and specializes on offshore exploration, acquisition as well as oil production. The leader in the energy and oil sector, Talos Energy, has gained recognition for its good work place.
Top place to work in
It has been voted one of the best places to work in Houston. Founded in 2012, the company has topped the top work place chart. If you are looking to work in a company in the energy sector with a conducive working environment and a great employee culture, Talos Energy is the right fit for you.
The employees of the company are entitled to comprehensive medical coverage, dental as well as vision coverage, a medical savings account, 401k retirement plans, basic as well as voluntary life insurance and paid vacations. Additionally, they have a flexible and balanced schedule to cater for the varying needs of employees day-in day-out.
Talos Energy, Stone Energy Merger
Recently, Talos Energy acquired Stone Energy Corp a move that saw it start trading on the New York Exchange. According to Timothy S. Duncan, the company’s CEO, the merger was a winner combination as it is going to benefit shareholders because there will be increased scale and liquidity.
The CEO continued to say that Talos is now in a better place to utilize its high quality asset portfolio well and take advantage of potential development and growth opportunities. He was also grateful to everyone who contributed to their efforts to reach this point.
Discovery Award
Few years since its conception, the company has strived to excel in the industry and recently, their efforts were recognized by being awarded with “Discover of the Year 2017” during WoodMac’s annual exploration awards ceremony. Specifically, it was a recognition for its Zama oil discovery in 2017. Timothy Duncan, CEO and President, described the discovery as a historic as well as significant discovery.
WoodMac’s award is given to a company which has been voted for coming up with the most exciting discovery by over 200 senior executives and experts.
To know more click: here.
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