HGGC, a leading middle-market equity firm, employs their repertoire of savvy, expertise, and proficiency to empower companies. Versed in portfolio investments, leveraged buyouts, and growth equity, this PE firm seeks to set a new standard for corporate excellence. Developed in 2007, HGGC was founded by Rich Lawson, Lance Taylor, and Steve Young. Young, a retired NFL player, has brought the company into notable repute. As the managing director, Young ensures that operations are streamlined and up to snuff. These great responsibilities bring with them added pressure to maintain an honorable reputation.
It’s for this reason why Young found himself in hot water following an accusation that challenged HGGC’s integrity. According to A. Schulster, the parent company of Citadel Plastics, Young and his colleagues knowingly skewed test results in hopes of fulfilling industry requirements. As a subsidiary of HGGC, Citadel Plastics is governed by the same executives that oversee the private equity firm. When A. Schulster acquired Citadel in 2015, they became privy to these ignoble actions. Naturally, Young denied the claims, denouncing such ill-founded assumptions as deplorable. A. Schulster didn’t entertain Young’s attempt to absolve the organization of any transgression and promptly sued them for $275 million.
Congrats to @dansaulter and the @Davies_Group on the TMS deal. Davies now numbers more than 1,700 professionals delivering digital solutions to more than 400 insurance, highly regulated and global companies across the UK, Ireland, Bermuda and the US #software #privateequity
— HGGC (@HGGC_LLC) January 22, 2019
Though the civil trial is still underway, Young, Lawson, and Taylor continue to thrive at the helm. Their mantra, to “drive change through fundamental value creation,” is what keeps them focused on the tasks at hand. While the company is currently embroiled in controversy, the PE firm remains a pillar in the investment domain. These days, Young aims to thrust his enterprise into a positive light as an attempt to diminish the problematic clouds that invariably loom. In fact, Young spoke with CNBC recently, stating that HGGC is looking forward to future growth and forging business relations with like-minded partners.