SAP Buys hybris Software from HGGC

Gary Crittenden presently holds the positions of Chairman and managing partner at HGGC, LLC. Prior to joining HGGC, Gary Crittenden served as chief financial officer at Citigroup, the American Express Company, the Monsanto Company, Sears Roebuck & Company, and two other corporations.

HGGC handles middle-market private equity transactions, including leveraged buyouts and recapitalizations. On August 1, 2013, it announced that it had concluded a deal with SAP for its portfolio company hybris Software. The sale marked a key stage in the life cycle of HGGC’s $1.1 billion debut capital fund, as the firm has now returned all capital committed out of the fund after the sales of hybris, Grand Isle Shipyard, Power Holdings, and Sunquest Information Systems. HGGC retains eight of the fund’s platform investments.

hybris provides omni-channel commerce technology, and its acquisition played to HGGC’s strength in technology services. Commenting on the sale of the company, HGGC executives described it as a win for all three businesses involved, as SAP has a history of preserving brands and offering its acquisitions the resources they need to continue expanding.

iQor’s TeQ21 Platform

In addition to serving as Chairman and managing partner of HGGC, LLC, Gary Crittenden has advised several of its portfolio companies as chairman of the board. In the past, Gary Crittenden chaired the board of Power Holdings. His present board commitments include chairmanships of iQor and Citadel Plastics Holdings, Inc.

From its headquarters in New York City, iQor delivers outsourcing and smart customer interactions through a network of contact centers and homes all over the globe. The company does so by relying on a proprietary, award-winning technology platform it calls TeQ21.

TeQ21 combines cloud-based infrastructure and desktop virtualization to deliver compliance and security while improving customer service. The platform uses thin client workstations that connect to iQor through the cloud, allowing the company to store all data and handle all processing centally. The move to thin clients has allowed it to become much more nimble, and it can now add or remove bulk quantities of terminals from its system in just hours.

To handle security, TeQ21 has done away with passwords and moved toward biometrics. All access to the TeQ21 system relies upon a finger swipe from a contact center agent. The company has also put together several cutting-edge software packages to make its agents more efficient. For more information, visit iQor online at http://www.iqor.com.

HGGC Portfolio Spotlight: Hybris Software

In 2009, Gary Crittenden joined middle-market private equity firm HGGC, LLC. He had previously worked for corporations including Monsanto, Sears Roebuck & Company, and Citigroup as chief financial officer. Today, Gary Crittenden serves as HGGC’s chief executive officer and as one of its managing partners.

HGGC’s portfolio features two companies focused on digital commerce, including on-demand solution and enterprise software provider hybris software. hybris uses a single, scalable, and flexible platform to provide unified commerce processes and data management. It offers its software through managed hosting, as well as on demand and on premise, providing its clients with flexibility in terms of implementation

As a result of its rapid growth and leadership in its industry, hybris was acquired by SAP AG in 2013. The deal, announced in July, will combine hybris’ platform with several platforms already owned by SAP, providing the larger company with a more complete portfolio of software and services to offer its clients and their customers.

iQor Grows by Acquisition

In addition to fulfilling his responsibilities as the CEO and managing partner of HGGC, LLC, Gary Crittenden serves on the boards of several HGGC portfolio companies. Gary Crittenden’s current board positions include chairman of the board at iQor.

iQor has recently expanded by acquiring another business. In late 2012, iQor announced its acquisition of the CCT Group, which provides business customer care services (in-bound telephone customer service) in contact centers around the world.

Speaking around the occasion of the acquisition, iQor’s CEO said that the company had decided to acquire CCT as part of an overall strategy to broaden the platform for its analytics and technology-enabled solutions. iQor’s core business areas lie in interventions like collections and bankruptcy, processes like data entry and credit-card charge-backs, enablers like business intelligence and customer analytics, and customer care, including technical and product support.

CCT had a particularly strong presence in several verticals that iQor had targeted, including telecommunications and business services, as well as a broad footprint in the Philippines and Latin America. For more information about the deal, visit www.iqor.com.

Thermoplastics at Citadel Plastics Holdings

As a member of the management team at private equity firm HGGC, LLC, Gary Crittenden chairs the boards of two of its portfolio businesses, including iQor and Citadel Plastics Holdings, Inc. Within HGGC, Gary Crittenden serves as the chief executive officer and as one of the firm’s managing partners. He also sits on the company’s investment committee and executive and policy committee. Previously, he worked for a variety of corporations including Citigroup, Sears Roebuck & Company, and Monsanto as chief financial officer.

Citadel is a global plastics compounding business that has two primary product lines: Thermoplastics and thermoset plastics. Thermoset plastic is compounded from proprietary formulae for uses that required the plastic to be stable as very high temperatures such as the reflector behind headlights in automobiles.

Thermoplastics are compounded for a wide variety of consumer products including the such familiar items as the plastic housing for lawn mower engines.

iQor Crafts High-Quality Business Solutions

Intelligent Solutions Outsourcing

Intelligent Solutions Outsourcing

Gary Crittenden serves as a managing partner and CEO at HGGC, LLC. Additionally, he is chairman of the board of directors at two companies within HGGC’s investment portfolio, Citadel Plastics and iQor. The latter firm, a New York City-based outsourcing solutions and customer contact business that specializes in real-time data analytics, provides its services to a select set of vertical markets including financial service, utilities and health care. Through its operating centers in 39 locations around the world that are staffed by more than 17,000 specialists, iQor has the capability to help any business develop innovative ways to care for and understand customers, helping to drive revenue growth while strengthening clients’ brand and marketing image.

Under Gary Crittenden’s leadership as Chairman of the Board and a team of outstanding operating executives, iQor offers extensive resources to its clients. The company provides services such as outsourced management of accounts receivable, comprehensive IT solutions for back office processing, and its signature customer care solutions. In addition, the company formed the iQor Innovations Lab, which is comprised of a team of professionals and analysts who can provide comprehensive information about customers to the firm’s clients, enabling more targeted marketing. By focusing on what it calls “Customers’ DNA,” iQor leverages large data sets to discover plans and models that allow businesses to thrive while providing satisfaction to its customer base.

Gary Crittenden – iQor Participates in Online Summit

The chairman of the board of iQor, Gary Crittenden serves as the CEO of HGGC, LLC, a private equity firm that has invested heavily in the customer contact management company. Gary Crittenden brings more than three decades of experience these ventures; previously he worked with such companies as American Express, Monsanto, Citigroup, and Sears Roebuck & Company.

Recently, Customer Management IQ organized “Big Data for Customer Management,” a free online summit for industry professionals. This opportunity featured presentations from customer management leaders such as Norman Merritt, the president and CEO of iQor. A global firm that specializes in developing outsourcing solutions for clients, iQor prides itself on “understanding each customer’s DNA.” During his talk at the Big Data for Customer Management Summit, Mr. Merritt encouraged attendees to map their customers’ genomes, explaining how customer service operations can increase value with applied analytics. Several other speakers also offered advice on how companies can strategically incorporate Big Data into their business plans to boost efficiency, profits, and overall customer satisfaction.

This innovative summit took place on May 22 and May 24, beginning at noon Eastern Time each day. Attendees joined the online dialogue from workstations around the globe.

Gary Crittenden of Salt Lake City – What Is an Area Seventy?

A successful Utah businessman, Gary Crittenden heads HGGC, LLC, a middle market private equity firm whose holdings include such companies as Citadel Plastics and iQor. Previously, he served as the chief financial officer of Citigroup and was the architect of the institution’s current Citicorp/Citi Holdings structure. Outside his professional achievements, Gary Crittenden fulfills a number of philanthropic roles in his native Utah, including the position of Area Seventy with the Church of Jesus Christ of Latter-day Saints.

A position of leadership within the Church of Jesus Christ of Latter-day Saints, a Seventy is a priesthood office in the Melchizedek Priesthood. Adult men who have been designated as Seventies fall into one of eight quorums. Those in full time church service are part of the First or Second Quorums, which are designated General Authorities. The remaining Seventies, or Area Seventies, hold membership in the Third, Fourth, Fifth, Sixth, Seventh, or Eighth Quorums. These officers only have authority in their respective regions or areas, while Seventies of the First and Second Quorums may lead around the globe. The Church calls all Seventies to share the gospel and to promote the overall growth and expansion of the Mormon faith. Together with other Church leaders, Area Seventies often help coordinate stake, or regional, conferences; train new stake officials; and oversee regional councils of stake presidents.

Gary Crittenden – HBS Hosts Annual Faculty Symposium

Now a managing partner of the private equity firm HGGC, LLC, which focuses on middle market leveraged buyouts, Gary Crittenden launched his career at Bain & Company, where he worked throughout the 1980s, ultimately becoming a partner. Gary Crittenden prepared for his career in financial services at Brigham Young University in Provo, Utah, and Harvard Business School in Boston, Massachusetts, earning his BS from the former and his MBA from the latter.

Every spring, the Harvard Business School (HBS) invites internal faculty members to present on their research before an audience of colleagues, staff, and doctoral students. This year, HBS scholars shared their findings on topics ranging from crowd sourcing to private equity buyouts of public firms. Reporting on more than a decade of formal research, Josh Lerner, the Jacob H. Schiff professor of investment banking at HBS, gave a talk entitled “Private Equity: Financial Capital, Real Consequences?” After following 3,200 target firms over 15 years and studying hundreds of leveraged buyout transactions, he and his colleagues discovered that private equity buyouts neither slow innovation nor significantly affect original employment.

For more information on Harvard Business School, visit www.hbs.edu.

Palo Alto CEO, Gary Crittenden – Citadel Plastics and Sustainability

A financial services professional with a successful record in middle market private equity buyouts, Gary Crittenden served as the chief financial officer of Citigroup before joining HGGC, LLC in 2009. This Palo Alto, California, firm has a portfolio of successful technology, consumer and industrial businesses, including Citadel Plastics. Today, Gary Crittenden chairs the board of Citadel while simultaneously serving as the CEO of HGGC.

A global leader in the composite plastics industry, Citadel Plastics specializes in developing thermoset and thermoplastic compounds for the industrial sector. Headquartered in Chicago, the company has operations around the globe. Citadel has a particular focus on the development of environmentally friendly plastic compounds. The company uses molding materials, such as talc and clay, to extend hydrocarbon function.

In addition to incorporating these abundant resources, the firm is researching the possibility of drawing the resin oils and additives it needs from crops such as soy beans and corn. Moreover, Citadel has developed techniques to recycle previously molded plastics and has found that many products derived from post-industrial plastics perform equally as well as their virgin plastic counterparts.

Learn more about this important sustainability initiative, as well as information about Citadel’s holdings, locations, and technologies by visiting www.citadelplastics.com.