FOR IMMEDIATE RELEASE
HYDE PARK CAPITAL ANNOUNCES SALE OF HOBBS & TOWNE TO TRUE
Tampa, Florida – December 14, 2021 - Hyde Park Capital Advisors, LLC (“HPC”) is pleased to announce that its client Hobbs & Towne (“HTI”), a leading executive search firm serving the clean energy, climate technology and sustainability categories, has been acquired by True (“True”), a portfolio company of LLR Partners (“LLR”). Hyde Park Capital served as the exclusive investment banker to Hobbs & Towne and initiated this transaction.
Andy Towne, CEO and Founding Partner of Hobbs & Towne said, “We couldn’t be more pleased by the result of the process that Hyde Park Capital managed for us. Joining forces with True will provide HTI, now the True Climate Practice, with the resources necessary to meet the growing demands of the market.”
"The climate tech space is a perfect example of the disruptive areas True thrives in,” said Brad Stadler, co-CEO and co-founder of True. “HTI has set the industry standard for placing leaders at cutting-edge tech companies that are crucial to building a better world.” True’s climate tech practice is new, he said, “but will be powered by experts with decades of experience,” he noted. a
John Hill, Senior Managing Director of Hyde Park Capital commented, “Andy Towne and a Bob Hobbs created the leading and fastest growing executive search and human capital management company in the green, sustainable and clean tech sector. This transaction with True, backed by LLR, rewards them and their partners for building such an outstanding company and sets them up for significant future growth and additional new opportunities looking forward. We appreciated the opportunity to work as their investment banker and financial advisor on this significant transaction for them.”
Matt Gladdish, Vice President at HPC added, “We are excited to have found such strong strategic alignment between True and HTI. We anticipate that HTI willmake a significant contribution to the True platform in the coming years as they continue to solidify their pole position in recruiting across the cleantech and sustainability categories.”
About Hobbs & Towne (HTI)
HTI is an executive search and advisory services firm with a mission of building amore sustainable future. The Company was founded in 1997 and specializes in the greening of all industries with focuses on energy, mobility, food, agriculture and water. HTI has worked with more than 600 companies, including climate intelligence company, Cervest; plant-based meat substitute business, Impossible Foods; and Proterra, an electric vehicle technology manufacturer. HTI’s team of more than 30 recruiters and employees works from San Francisco, Los Angeles, New York City, Toronto, Philadelphia and London.
The firm specializes in working with transformational growth companies, and it has partnered with many of the premier investors around the world, including Breakthrough Energy Partners, Khosla Ventures, Kleiner Perkins, Oaktree Capital and Platinum Equity, to build top-tier leadership and investment teams for transformative companies. For additional information, please visit www.hobbstowne.com.
The True platform is a global suite of products and services driving the intelligence behind talent management. True consists of five business units:True Search, Thrive, Synthesis, AboveBoard and True Equity.
Global recruitment for board members, C-suite executives, VPs, directors and other strategic talent. True Search focuses on investment firms, their portfolio companies, and public companies seeking transformative growth.
Collaborative, real-time talent relationship management software and information services for search firms, in-house recruiters, and VC/PE firms looking to make better hiring decisions.
A multi-layered approach to leadership assessment and development which combines the evaluation methods of elite military units, executive coaching techniques and agile methodology principles.
A diversity-focused startup bringing unparalleled solutions to the critical need to bring more women and executives of color to leadership roles. With AboveBoard’s two-way platform, members get unique visibility to hundreds of opportunities while companies get access to qualified candidates.
TrueEquity makes direct investments in high growth companies backed by elite venture capital firms. For additional information, please visit www.trueplatform.com.
About LLR Partners
LLR is a lower middle market private equity firm investing in technology and healthcare businesses. LLR collaborates with their portfolio companies to define high-impact growth initiatives, turn them into action and create long-term value. Founded in 1999 and with more than $5 billion raised across six funds, LLR is a flexible provider of equity capital for growth, recapitalizations and buyouts. For additional information, please visit www.llrpartners.com.
About Hyde Park Capital
Hyde Park Capital is an institutionally focused investment banking firm specializing in mergers and acquisitions and serving the corporate finance needs of middle market public and private companies. Its principals have extensive investment banking experience executing merger and acquisition engagements, including purchase and sale of company assignments, recapitalizations, financial advisory, fairness opinions and raising growth capital and acquisition financing for companies, including equity, mezzanine, and senior debt. Hyde Park’s bankers have significant experience in the human capital management and professional and business services sector. Hyde Park Capital is headquartered in Tampa, Florida and is a member of FINRA and SIPC. For additional information, please visit www.hydeparkcapital.com.