Strategic Investment Group, which is backed by Friedman, Fleischer & Lowe, is out marketing for its latest private equity fund. Arlington, Virginia-based Strategic Investment is looking to raise $250 million with Strategic Private Equity Fund IV LP, according to sources
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Flexpoint Ford has agreed to buy GeoVera Insurance Group Holdings. Financial terms weren’t announced. The sellers were Friedman Fleischer & Lowe and Hellman & Friedman. GeoVera provides specialty residential property insurance. Aon Benfield Securities and SFRi provided financial advice to GeoVera. PRESS RELEASE GeoVera Insurance Group Holdings, Ltd. (“GeoVera”), a leading provider of specialty residential property [...]
Green Bancorp has agreed to buy Opportunity Bancshares and its wholly-owned subsidiary, Opportunity Bank. Financial terms weren’t announced. Opportunity Bank operates a banking office in Richardson, Texas. Opportunity Bank reported $52 million in total assets as of Dec. 31, total loans of $31 million and total deposits of $43 million. The deal, subject to board [...]
Church’s Chicken, a portfolio company of Friedman Fleischer & Lowe, has appointed Jim Hyatt its new CEO. Hyatt was most recently president and CEO of Cosi. He succeeds Mel Deane, who served as CEO since December 2009.
TriTech Software Systems, which is backed by Friedman Fleischer & Lowe, said Friday that it has acquired VisionAIR. Financial terms weren’t announced. Castle Hayne, N.C.-based VisionAIR provides software for 911 centers, law enforcement, fire service and corrections.
Friedman Fleischer & Lowe said Wednesday that it has completed its buy of C.H.I. Overhead Doors. Terms of the deal weren’t disclosed. JLL Partners acquired the Arthur, Ill. garage door maker in the in fall of 2004. News of the C.H.I. sale was reported by The Deal in July.
Top 10 Stories Include Shakeup at Friedman Fleischer & Lowe, McNamee’s Sudden Interest in Seed Deals and Sale of Chicken Joint Bojangles’
Time to catch up on the blog posts and news items that your peers found most interesting on peHUB this week. Following are the top 10 posts that garnered the most pageviews from regular readers from July 25 to July 29. (We did a separate list for the week’s most popular slideshows.) This week’s hot topics include David Lowe leaving the San Francisco buyout shop he co-founded; Elevation’s Roger McNamee announcing plans to get into seed investing; the sale of fried chicken restaurant Bojangles’; and strong interest among buyout shops to buy brokerage Morgan Keegan.
1. Co-Founder Has Left San Fran Firm, by Bernard Vaughan
2. McNamee Promises to Make Seed Investments from Buyout Shop Elevation Partners (subscribers only), by Mark Boslet
3. The Mystery of Bojangles’s New York Store Is Solved, by Luisa Beltran
4. Blackstone, Carlyle Among Bidders for Morgan Keegan, by Paritosh Bansal and Megan Davies, Reuters
5. Dealtalk: Buyout Firms Target Unloved Corporate Divisions, by Simon Meads, Reuters
It looks like JLL Partners will be exiting C.H.I. Overhead Doors after nearly seven years.
Friedman Fleischer & Lowe is buying C.H.I. Overhead, a garage door maker, according to Standard & Poor’s LCD. Friedman Fleischer is in the market for a $203.5 million loan to back its by of C.H.I., LCD said. GE Capital and Wells Fargo are financing the deal, Thomson Reuters Loan Pricing Corp. said.
The Deal, which reported the C.H.I sale last week, said the transaction was valued at roughly $290 million.
Jeffrey Lane will join Friedman Fleischer & Lowe as an operating partner. He was most recently a SVP and GM of packaging at Boise. Lane Will join FFL on Aug. 15.
Buyout firm Friedman Fleischer & Lowe has added Richard Lenny, former chairman and chief executive of The Hershey Company, as an operating partner. Before Hershey, Lenny held high-profile roles including president of Nabisco Biscuit Co., president of Pillsbury North America, and various roles at Kraft Foods. San Francisco-based Friedman Fleischer & Lowe hase approximately $2.5 billion under management, and focuses on middle-market deals. In his new role at the firm, Lenny will help identify and evaluate new investment opportunities in the consumer products sector, as well as provide guidance to portfolio companies.