HGGC is a private equity firm that puts a significant amount of emphasis on technology-focused investments, and which has recently undergone a variety of changes and advancements. On October 15, the firm announced that it would be merging its MyWebGrocer (MWG) subsidiary with Mi9 Retail, with two of Mi9’s investors also taking part in the move.
According to reports, MWG will be bringing its order management and e-commerce solutions to the new coalition, while Mi9 Retail will be utilizing its promotions management, analytics solutions, and much more. As a result of the merger between the two, HGGC notes that the company will be able to offer a more comprehensive software solution to retailers across the globe.
Reports have also suggested that the merger, once finalized, could generate several billion dollars in revenue, with this being the result of a combined 500 clients, including Nike and Levi’s. The news of the merger comes not long after HGGC announced the hiring and promotion of various professionals within the company.
One of the more notable promotions is Les Brown, who joined the company in 2007. For the past several years, Brown has served as a Board of Director member for the firm’s Fund II investment in Dynata. With the new promotion, he will now serve as Chairman of the Board of Directors for the business’ Nutraceutical International Corporation investment.
Alongside this, Harv Barenz has been promoted to lead HGGC’s global business development efforts after serving with the company since 2008. Lance Taylor, John Block, and Steven Leistner have all also received various promotions. Outside of this, there have been a variety of new hires for the firm, with there being six new team members in total.
Prominent among these are Greg Caltabiano and Lindsay Sparks, who joined the company as executive directors and who will be charged with leading many of HGGC’s portfolio companies. Alongside this, Mo Gulamhusein has joined the firm as vice president while Holland Reynolds will serve as an investment associate. Chandni Shah comes on board as a fund accountant for the operations team, while Greg Caltabiano will also be working with the company going forward.