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.