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CenterGate Capital invests in material handling equipment company

An affiliate of private equity firm CenterGate Capital LP has invested in Naumann/Hobbs Material Handling Inc., according to a news release published on the PE Hub Network.

Tom Hobbs will retain his role as CEO and board member at Naumann/Hobbs.

Naumann/Hobbs plans to use the proceeds to further grow its market presence and geographical reach.

Phoenix-based Naumann/Hobbs' portfolio includes class I-V forklifts and related equipment and a large technical fleet.

CenterGate Capital is a lower-middle-market private equity firm that invests in companies with $20 million to $250 million in revenue.