# Hanover Partners

Hanover Partners is a Private Equity based in San Francisco, United States.

## Overview

- **Organization type:** Private Equity
- **Headquarters:** San Francisco, United States
- **Region:** North America
- **Address:** San Francisco, CA, United States
- **Founded:** 1994
- **Assets under management:** Undisclosed
- **Website:** www.hanoverpartners.com
- **LinkedIn:** https://www.linkedin.com/company/hanover-partners

## Regulatory record

- **Reports private funds:** No

## About

Hanover Partners is a San Francisco, California-based private equity firm founded in 1994. The firm has made 4 investments, including Lumenari in Series A on October 10, 2018. Hanover Partners has facilitated 7 portfolio exits, with Powertronix being their most recent exit on January 10, 2024.

## Sectors

- Industrial Tech
- Robotics & Automation
- Media & Entertainment
- Energy Transition & Renewables
- Real Estate

## People

- Andrew Ford — Founding Partner
- John Palmer — Co-Founder
- Aaron Aiken — Managing Partner
- Vineet Varma — Partner

## Questions

### Who runs investment decisions at Hanover Partners?

Day-to-day investment decisions sit with the partnership group: Founding Partner Andrew Ford, Managing Partner Aaron Aiken, Partner Vineet Varma, and Co-Founder John Palmer. The firm operates by consensus as a small, owner-operated private equity house, and the principals appear directly on portfolio-company boards. No formal investment committee structure is disclosed.

### What investment stage and size does Hanover Partners target?

Hanover targets profitable, cash-flow-positive companies with at least $8 million in revenue and $1.5 million in operating income. The majority of its initial investments involve businesses generating under $30 million in sales — squarely lower middle-market manufacturing and engineered-products companies. It does not pursue pre-revenue startups.

### Which sectors does Hanover Partners explicitly avoid?

Hanover does not invest in services-only businesses, retail, consumer brands, biotechnology, or pure-play software without a hardware or engineered-equipment component. Its portfolio shows consistent avoidance of asset-light models, concentrating instead on companies that own proprietary engineering, manufacturing IP, or specialized equipment fleets.

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Last updated: 2026-06-03T20:00:00.000Z

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