HKW has hired Rick Ammar as a vice president to assist the firm with its expanding technology efforts. Mr. Ammar is based in HKW’s New York office.
Mr. Ammar’s responsibilities at HKW include sourcing new investments, evaluating new investment opportunities, performing underwriting and due diligence, and executing platform and add-on transactions.
“Rick’s track record of investing in high-growth technology and technology-enabled businesses will make for a seamless transition to HKW and our growing technology mandate,” said Jeff Bistrong, a partner at HKW. “His industry relationships, along with his insights into the technology and the current deal environment, immediately provides HKW with an incredibly well-rounded perspective.” Mr. Bistrong joined HKW in May 2020 after 17 years at Harris Williams where he founded and led the firm’s technology, media and telecom group.
For the five years prior to joining HKW, Mr. Ammar was with Macquarie Group in its private capital investments group. Earlier in his career he was with a high net worth family office, and active with technology-related special situations at both Perry Capital and Goldman Sachs. Mr. Ammar has his undergraduate degree in economics from Wharton.
“Rick’s experience investing across the capital structure – control buyouts, minority growth equity, structured capital – will allow him to hit the ground running and immediately serve as a valuable resource for our team,” added Daniel Kim, a partner at HKW. “We believe the current deal environment requires a thoughtful and collaborative approach, and we’re confident Rick will help HKW take advantage of today’s opportunities.”
HKW (formerly Hammond, Kennedy, Whitney & Company) invests in companies in the business services and health & wellness sectors that have EBITDAs between $5 million and $30 million. In the software and technology sector, the firm invests both control and minority investments in companies that have more than $10 million of annual revenue. In October 2019, the firm announced a final above-target close of HKW Capital Partners V LP with total commitments of $365 million.
Since 1982, HKW has acquired 63 North America-based lower middle-market platform companies and closed 69 add-on acquisitions. The firm was founded in 1903 and is headquartered in Indianapolis with an additional office in New York City.
© 2020 Private Equity Professional | November 17, 2020