Gallatin Point acquires First Investors

Gallatin Point Capital has acquired FIFS Holdings Corp, parent company to First Investors.

Gallatin Point Capital has acquired FIFS Holdings Corp, parent company to First Investors. No financial terms were disclosed. Credit Suisse Securities (USA) LLC served as financial advisor to First Investors while Wells Fargo Securities LLC did likewise for Gallatin Point. Based in Houston, First Investors is a consumer finance company.

PRESS RELEASE

HOUSTON, Oct. 12, 2020 /PRNewswire/ — FIFS Holdings Corp., parent company to First Investors Financial Services Group (“First Investors”, or the “Company”), today announced the acquisition of the Company by funds affiliated with Gallatin Point Capital (“Gallatin Point”). No other terms of the transaction were disclosed. The transaction will close upon receipt of regulatory approvals.

Gallatin Point, a private investment firm with a focus on investments in financial institutions, services, and assets, plans to partner with First Investors to grow and expand the Company’s lending businesses as well as to accelerate its portfolio acquisition capabilities and third-party servicing segment.

Tommy Moore, Jr., President and CEO of First Investors, noted: “As a management team, we are very excited to be partnering with Gallatin Point, a firm with an outstanding reputation, valuable industry expertise, and capital resources that will enhance our ability to grow our company.”

Matt Botein, Co-Founder and Managing Partner of Gallatin Point, said: “First Investors has an outstanding financial and operational track record and a distinguished reputation for how it conducts its business. We are very excited to partner with its strong management team to accelerate growth opportunities and enhance First Investors’ capacity to deliver value to its customers.”

Credit Suisse Securities (USA) LLC served as exclusive financial advisor and Willkie Farr & Gallagher LLP acted as legal advisor to First Investors. Wells Fargo Securities LLC served as exclusive financial advisor and Goodwin Procter LLP acted as legal advisor to Gallatin Point.

ABOUT FIRST INVESTORS FINANCIAL SERVICES GROUP, INC.
The Company is a consumer finance company engaged in originating and holding for investment automobile finance receivables and promissory notes originated by franchised automobile dealers or through refinancing transactions with the vehicle owners. The Company specializes in lending to consumers with impaired credit profiles. The Company also purchases receivables through portfolio acquisitions or from third party originators and performs third-party loan servicing for unaffiliated clients. The Company is headquartered in Houston, Texas and has been in business for 32 years. Copies of this press release and other information about the Company are available on the Company’s web site at www.fifsg.com.

ABOUT GALLATIN POINT CAPITAL LLC
Gallatin Point Capital LLC is a private investment firm with a primary focus on making investments in financial institutions, services, and assets. The firm’s approach is to identify opportunities that arise from complexity, dislocation, or changes in technology and regulation. Gallatin Point aims to form highly collaborative partnerships with its investors and with management teams of its portfolio companies, seeking to combine the right capital with the right managerial competencies in order to maximize the outcome for all stakeholders. More information about Gallatin Point can be found at www.gallatinpoint.com.