HCI Completes Sale of Naumann Hobbs Material Handling, Inc.

Phoenix, AZ, August 2019

HCI Equity Partners is pleased to announce the sale of Naumann Hobbs Material Handling, Inc. (“Naumann Hobbs”) by Thayer Equity Investors V, L.P. (“Thayer V”). HCI completed the sale of Naumann Hobbs to CenterGate Capital on August 30, 2019.

Naumann Hobbs, headquartered in Phoenix, Arizona, is a full service material handling dealership that leases, sells and services a variety of electric and internal combustion forklifts and other commercial products. The Company primarily operates in the western markets of Arizona, Nevada, Utah and California, with additional operations in Mexico. Naumann Hobbs’ operations are organized along five principal lines of business (equipment, parts, service, storage products & systems, rental) which work together to provide the most attractive value proposition to those requiring material handling equipment and services in the Southwest market.

Portage, IN, May 2019

HCI Equity Partners (“HCI”) today announced a recapitalization of Manufacturing Solutions International (“MSI”). MSI has joined forces with HCI portfolio company Express Packaging to meaningfully expand its capabilities and presence in contract packaging and contract manufacturing primarily to human food and pet food markets.

Headquartered in Portage, Indiana, MSI serves leading national brands with a wide breadth of contract packaging services, such as pouching/bagging, stand-up pouching, filling, lidding, bundle wrapping, flow wrapping, blister carding, shrink wrapping, inspections, mixing, kitting, display building, and canister sealing, among others. It also provides a range of contract manufacturing services, including dry and liquid blending of ingredients, heat pasteurization, and batching, among others. Finally, it offers warehousing, distribution, and fulfillment services. MSI is SQF Level 3 certified, as is Express Packaging.

MSI founder Charles Weinberg stated, “We are very excited to partner with Express Packaging and HCI, and we look forward to continually expanding our service offering to better serve our customers.” Charles is now CEO of the combined organization, and MSI co-founder Tom Donnelly is CFO. Both now also serve as board members. Express founder Fred Hartzler, who remains active as a sales leader and a board member, noted, “We are thrilled to partner with a company of MSI’s caliber. Our organizations fit very well from a cultural, organizational, and capability standpoint.” Doug McCormick, Managing Partner at HCI, stated, “MSI is highly complementary to Express in a variety of ways—with respect to team, customer base, service capabilities, systems, and processes. It deepens the platform’s ability to be a strategic partner to its customers.”

Washington, D.C., February 2019

HCI Equity Partners is pleased to announce the sale of Quadel Consulting & Training (“Quadel”) by Thayer Equity Investors V, L.P. (“Thayer V”). HCI completed the sale of Quadel to Bluestone Investment Partners on February 8, 2019.

Quadel, headquartered in Washington, DC, provides outsourced program management, contract administration, disaster recovery, consulting, training and educational services. These services are provided to various federal, local and state agencies. Quadel is a national expert in the HUD-Assisted Multifamily, Public Housing, Housing Choice Voucher, and Low Income Housing Tax Credit programs.

Liverpool, NY, December 2018

HCI Equity Partners is pleased to announce its acquisition of JGB Enterprises, a value-added assembler and supplier of industrial and hydraulic hose and hose accessories, as well as a variety of other industrial products. Based in Liverpool, NY, JGB’s products are used in a variety of end-markets, including oil and gas, agriculture, mining, construction, marine, chemical, food, commercial and government (the Department of Defense and the Defense Logistics Agency). The Company serves over 4,000 customers annually and its products facilitate the conveyance of liquids, gases and dry bulk materials for end-users. JGB offers one of the broadest portfolios of hose and hose assembly products in the industry. The Company’s hoses are selected and assembled to meet specific size, pressure, temperature and material requirements in critical applications.

Anaheim, CA,  December 2018

HCI Equity Partners is pleased to announce that current portfolio company, Summit Interconnect, acquired Streamline Circuits on December 7, 2018. Headquartered in Santa Clara, California, Streamline manufactures printed circuit boards for the attractive prototyping segment. The Company is focused on high-mix, low volume production for a variety of end markets. In addition to rigid PCBs, Streamline’s technological capabilities include flex and rigid-flex PCBs. The acquisition provides Summit with meaningful scale and the opportunity to cross-sell complementary product offerings, add overseas sourcing capabilities and further enhances the Company’s presence in the aerospace and defense end market.

Alexander City, AL, November 2018

HCI Equity Partners is pleased to announce its acquisition of Wellborn Forest, a designer and manufacturer of semi-custom cabinets serving the single-family residential market exclusively through the dealer channel. Wellborn provides kitchen and bathroom cabinetry to the new construction and remodeling markets directly through independent sales agencies to a large network of kitchen and bath dealers.

Newcomerstown, OH, August 2018

HCI Equity Partners is pleased to announce its acquisition of Express Packaging, a provider of outsourced contract packaging primarily for manufacturers of dry human and pet foods, and to a lesser extent, consumer products. The Company’s capabilities extend across a wide variety of dry food categories, such as candy, gum, sunflower/pumpkin seeds, sweeteners and pet treats.

Lakewood, NJ, May 2018

HCI Equity Partners is pleased to announce its investment in Regent Cabinetry, a rapidly growing provider of custom cabinets, countertops and related hardware to the multi-family construction industry. The Company has aligned with strategic partners in Asia that manufacture custom, high-end cabinets, which are shipped in a flat-pack to Regent’s U.S. facilities where they are assembled and prepared for final installation. The Company also imports pre-cut stone, marble and quartz countertops that are sold with their cabinets. Regent is currently focused on the premium, 100+ unit segment of the multi-family market in the Northeastern and Mid-Atlantic regions of the U.S., however has been asked by its national customers to expand into the South and Southwest regions of the U.S.

Charleston, SC, April 2018

HCI Equity Partners IV, L.P. (the “Partnership”) is pleased to announce that existing portfolio company AmerCareRoyal acquired PrimeWare by PrimeLink Solutions, Inc. on April 20, 2018.

Headquartered outside of San Francisco, California, PrimeWare is a leading provider of eco-friendly disposable products for the foodservice industry. The Company offers compostable and recyclable disposable plates, bowls, cups, trays, cutlery, lids and other tableware made from natural and sustainable materials including sugar cane, bamboo and other recyclable materials. The acquisition significantly expands AmerCareRoyal’s “green” or eco-friendly products category, which is one of the fastest growing segments in the market and represents the addition of another new highly complementary product offering for the existing customer base. The transaction represents the sixth acquisition in the consolidation strategy.

Charleston, SC, December 2017

HCI Equity Partners IV, L.P. (the “Partnership”) is pleased to announce that AmerCareRoyal acquired 511 Foods, LTD. (d.b.a 511 Foodservice) on December 15.

511 Foodservice, located outside of Toronto, Ontario, is a leading supplier of private label and branded disposable products to major Canadian foodservice distributors, retailers and restaurants. 511 provides over 800 unique SKUs to over 200 customers across nine distinct product categories. It has developed a strong niche in serving foodservice redistributors and to a lesser extent national food chains throughout Canada. 511 represents a complementary acquisition for AmerCareRoyal from a customer, geographic and product perspective. This transaction represents the fifth acquisition in the consolidation strategy.