WASHINGTON, DC, October 31, 2024 –HCI Equity Partners (“HCI”), a leading lower middle market private equity firm that focuses on partnering with founder-owned service, distribution, and manufacturing companies, announced today the promotions of Nate Novak to Managing Director and Michael Allen to Vice President.

Mr. Novak joined HCI in 2014 and currently leads the firm’s investments in Tech24 and LawnPRO Partners. He has led firm initiatives in proactive thesis development, M&A consolidation best practices (leading 35 add-on transactions), and an expanded focus on technical service business models. Mr. Novak is also an active deal team member on current portfolio investments in WF Cabinetry and Regent cabinets as well as prior investments in The Delaney Hardware Company, Naumann Hobbs Material Handling, and Dynamic Systems, Inc. Previously, he worked at Robert W. Baird in both investment banking and equity research.

Mr. Allen joined HCI in 2021 and is responsible for evaluating, executing, and monitoring current and prospective investments made by the firm. He is an active deal team member on current portfolio investments in ACR (AmerCareRoyal, LLC), and Highland Commercial Roofing, and significantly contributes to the firm’s business development and deal origination activities. Mr. Allen began his career as an analyst at J.P. Morgan before moving to Adams Street Partners in the private credit group.

“The strength of our team is critical to HCI’s success, and both Nate and Michael have distinguished themselves as valuable contributors,” said Doug McCormick, HCI Managing Partner. “I’m proud to recognize their dedication and hard work with these promotions, and I look forward to their continued growth in these expanded roles.”