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CenterGate Capital Acquires Naumann Hobbs Material Handling, Inc.

Washington, D.C., 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.