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CenterGate Capital invests in Naumann/Hobbs Material Handling

CenterGate Capital has invested in Naumann/Hobbs Material Handling. Financial terms weren’t announced. Naumann/Hobbs Material Handling, of Phoenix, is a material handling equipment platform with a suite of products and services.

PRESS RELEASE

CenterGate Capital Partners with Leading Material Handling Platform, Naumann/Hobbs Material Handling

September 10, 2019 – CenterGate Capital (“CenterGate”), an Austin-based private equity investment firm, announced today that its affiliate has made an investment in Naumann/Hobbs Material Handling (“Naumann/Hobbs”), a leading material handling equipment platform with a comprehensive suite of products and services.

Established in 1949 and headquartered in Phoenix, Arizona, Naumann/Hobbs serves a wide customer base across the southwestern United States, providing a robust product portfolio including class I-V forklifts and related equipment as well as comprehensive service via its large technician fleet. The company also provides distribution operations and systems solutions nationwide. CEO Tom Hobbs will continue to lead Naumann/Hobbs and serve on its Board of Directors.

“We are excited about our partnership with CenterGate and it will allow us to continue to provide exceptional service to our customer base,” commented Hobbs. “CenterGate’s investment will provide us the capital and strategic resources to continue to grow our market presence and geographic reach.”

Jeff Kovick, Principal at CenterGate Capital, added, “We are excited to partner with Tom and the entire Naumann/Hobbs team. The company has a long track record of success, and we look forward to working with the team to execute the vision for the future and continue that trajectory.”

About Naumann/Hobbs Material Handling

Naumann/Hobbs Material Handling is a leading material handling equipment platform with a comprehensive suite of products and services, servicing its customers through a network of seven locations across the southwestern United States. Naumann/Hobbs maintains a robust product portfolio of class I-V forklifts and related equipment with award-winning OEMs. In addition to being a new and pre-owned equipment dealer, Naumann/Hobbs performs routine on-site service and scheduled maintenance work serving entrenched customer partnerships across its territories.

About CenterGate Capital

CenterGate Capital is a private equity firm that helps companies drive meaningful growth and value through dynamic partnerships and supportive capital. CenterGate enables companies to realize their potential by supplementing management’s operational and industry expertise with CenterGate’s diverse business guidance and insight. CenterGate focuses on investing in lower middle market companies with $20 to $250 million of revenue. For more information, please visit www.centergatecapital.com.