HGGC Grabs AutoAlert
Former San Francisco 49ers quarterback and HGGC co-founder Steve Young (pictured) will become chairman of the board of AutoAlert
Private equity firm HGGC has acquired AutoAlert for an undisclosed amount.
AutoAlert, headquartered in Irvine, Calif., provides cloud-based data mining and portfolio management services to automotive dealers in North America. The company's founders, Boyd Warner and Jeff Cotton, reinvested to take a significant minority stake in the business.
HGGC co-founder and managing director Steve Young, former San Francisco 49ers quarterback, will become chairman of the board of AutoAlert. The Presidio Group acted as AutoAlert's financial adviser.
This is HGGC's second investment from its second fund, following a deal for Serena Software in March. The Palo Alto, Calif.-firm also invested alongside the company founder in that deal – Doug Troxel agreed to increase his 30 percent minority stake in connection with HGGC's investment.
For more on HGGC's technology focus, see our video interview with managing director Rich Lawson "Pent-Up Demand for E-Commerce Technology Drives M&A."
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