Charlotte, N.C.-based private equity firm Falfurrias Capital Partners has invested an undisclosed amount in Dorsey Wright & Associates. Richmond, Va.-based Dorsey Wright provides technical investment research and money management services. Terms were not released.
Falfurrias Capital Partners, a Charlotte-based private equity firm, today announced it has invested as a strategic partner in Dorsey Wright & Associates, a Richmond, Va.-based provider of technical investment research and money management products.
Falfurrias Capital, founded by former Bank of America Chairman and CEO Hugh McColl Jr. and former Bank of America CFO Marc D. Oken, has been actively targeting investments in the financial services industry.
“My partners and I have spent most of our careers in the financial services industry, so it didn’t take long for us to realize that Dorsey Wright & Associates is truly a special company,” said Hugh McColl Jr. “DWA’s innovative culture, passion for excellence, and loyal customer base are impressive, and we are excited about the potential to partner with the Dorsey Wright team. We believe that combining the proven business model of DWA with our capital, financial services industry relationships, and operational expertise will position the company for continued success.”
DWA’s decision to accept Falfurrias as an investor is driven by many factors, among them the benefit of expanded resources, access to a broad network of industry contacts, and the opportunity to grow the ways in which it serves its clients.
While there will be a change of ownership and control resulting from the Falfurrias investment, Tom Dorsey will continue in his role as President of DWA. “Joining forces with Falfurrias will enable DWA to broaden our reach within the financial community as we continue to keep our same investment management philosophies in place as well as the entire DWA team. We are confident that the partnership will enable us to better serve our very loyal client base,” said Mr. Dorsey.
Falfurrias focuses on investing in companies with experienced management teams and stable operations and assists in growing those companies through strategic support, capital investment and access to relationships with executives and thought leaders.
Falfurrias, which also has investments in equipment lender Commercial Credit Group and bank holding company North American Financial Holdings, continues to actively pursue investments in the financial services market.
Goldman Sachs Specialty Lending Group provided financing for the transaction.
Dorsey, Wright & Associates was advised by Boxwood Partners, LLC.
About Dorsey Wright & Associates
Dorsey Wright & Associates was founded in 1987 and is a world leader in supplying technical research services to the financial services industry and individuals. DWA strives to supply the resources, technology and support necessary for a stock broker, money manager or individual investor to become a true craftsman in investing, while maintaining the highest principles and integrity. The company also provides advisory and sub-advisory services to various exchange traded funds and mutual funds. For more information, visit www.dorseywright.com.
About Falfurrias Capital Partners
Falfurrias Capital Partners is a Charlotte-based private equity investment firm founded in 2006 by Hugh McColl Jr., former chairman and CEO of Bank of America, and Marc Oken, former CFO of Bank of America. The firm is focused on acquiring or investing in a diverse portfolio of growth-oriented middle-market companies. By leveraging the extensive strategic and operational experience and business relationships of the firm’s principals, Falfurrias Capital Partners is positioned to be a value-added partner for both its portfolio companies and its limited partners.