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.
JLL Partners acquired the Arthur, Ill. garage door maker in the in fall of 2004. JLL invested about $72 million into the deal, the story said. The PE firm is expected to post a $111 million gain on its investment, which includes a $56 million dividend JLL took from C.H.I. in February, The Deal said.
The sale of C.H.I. Overhead is the latest for JLL, a New York PE firm. Earlier this month, JLL sold PharmaNet Development Group to inVentiv Health, which is backed by Thomas H. Lee Partners.
San Francisco-based Friedman Fleischer is currently investing out its third fund which raised $1.5 billion in 2008. The PE firm currently owns Church’s Chicken, Green Bank and Midwest Dental. FF&L typically invests $50 million to $500 million per deal.
Friedman Fleischer declined comment. JLL couldn’t be reached for comment.