Friedman Fleischer & Lowe said on Wednesday it had raised $2 billion for its fourth private equity fund, its largest to date, Reuters News reported.Continue
The London Stock Exchange is conducting a “broad sales process” for Russell Investments, four sources [...]Continue
Friedman Fleischer & Lowe has set out a “well-thought out” succession plan, said co-founder Tully [...]Continue
Transtar Industries Inc, a U.S. distributor of replacement car parts, is exploring a sale that it hopes could value the company at as much as $1 billion, including debt, sources told Reuters.Continue
Green Bancorp Inc, a Texas bank owned by three private equity firms, filed with U.S. regulators on Tuesday in an initial public offering of its common stock, Reuters reported.Continue
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 sourcesContinue
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 […]Continue
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 […]Continue
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.Continue
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.Continue
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.Continue
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.Continue
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.Continue
Middle-market buyout shop Friedman Fleischer & Lowe has completed its acquisition of Midwest Dental, a dental practice management company. Financial terms of the deal were not released. Midwest Dental’s senior management team, which has worked together at the company for nearly 10 years, is investing alongside FFL, and will continue to manage the business, the company said in a written statement. Midwest Dental is based in Mondovi, Wisc.Continue
We have some dividend news today.
Gryphon Investors has completed its third dividend recap of Intelligrated, an automated materials handling company based in Mason, Ohio.
Intelligrated, in February, was in the market for a $125 million term loan plus a $30 million revolver. Bank of America Merrill Lynch led the deal, reported Thomson Reuters Loan Pricing Corp. Proceeds of the transaction were used to refinance debt, LPC said at the time.Continue
Windsor Foods, which produces frozen foods, has acquired Discovery Foods from Friedman Fleischer & Lowe. Financial terms weren’t announced. Discovery Foods, of Hayward, Calif., makes frozen Asian snacks, appetizers and entrees. Friedman Fleischer is a San Francisco PE firm.Continue