DALLAS--(BUSINESS WIRE)--
Hilltop Opportunity Partners (HOP), the merchant banking investment arm
of Dallas-based Hilltop Holdings Inc. (NYSE: HTH), recently completed a
preferred equity investment with an independent sponsor and also exited
its investment in AFN, LLC.
In November of 2018, HOP completed a preferred equity investment in
Stan’s Heating & Air Conditioning, Inc., a company offering premium air
conditioning and heating services in the Austin and Georgetown, Texas
area. The company provides HVAC installation, replacement, repair and
maintenance to large volume home builders, as well as residential
homeowners. HOP partnered with Treaty Oak Equity LLC to complete the
acquisition. Treaty Oak Equity LLC is an Austin-based private equity
firm that invests in lower middle-market companies that occupy leading
positions in viable market niches.
Also during the fourth quarter of 2018, HOP successfully exited its $10
million investment in Illinois-based freight brokerage provider AFN, LLC
with the sale of the business to GlobalTranz. GlobalTranz is owned by
the private equity firm The Jordan Company. Hilltop Opportunity Partners
originally invested in AFN in December 2017.
“Our successful exit from our AFN investment, and our more recent
preferred equity stake in Stan’s Heating & Air Conditioning, represent
opportunities for Hilltop Opportunity Partners to execute on its plans
to invest Hilltop Holdings’ available capital,” said Hilltop Holdings
Executive Vice President Mark Plunkett, who serves as chief investment
officer and head of Hilltop Opportunity Partners. “We continue to seek
out attractive non-bank investments that fit our flexible investment
strategy.”
Hilltop Opportunity Partners targets middle market investments
outside of the banking industry that range from $5 million to $25
million across a variety of sectors and capital structures. HOP focuses
on long- and short-term, non-control investments, with larger or smaller
opportunities considered on a case-by-case basis. To learn more about
Hilltop Opportunity Partners, visit www.Hilltop-Holdings.com/HOP
or email HOP@Hilltop-Holdings.com
for more information.
About Hilltop Holdings Inc.
Hilltop Holdings is a Dallas-based financial holding company. Its
primary line of business is to provide business and consumer banking
services from offices located throughout Texas through PlainsCapital
Bank. PlainsCapital Bank’s wholly owned subsidiary, PrimeLending,
provides residential mortgage lending throughout the United States.
Hilltop Holdings’ broker-dealer subsidiaries, Hilltop Securities Inc.
and Hilltop Securities Independent Network Inc., provide a full
complement of securities brokerage, institutional and investment banking
services in addition to clearing services and retail financial advisory.
Through Hilltop Holdings’ other wholly owned subsidiary, National Lloyds
Corporation, it provides property and casualty insurance through two
insurance companies, National Lloyds Insurance Company and American
Summit Insurance Company. At December 31, 2018, Hilltop employed
approximately 5,200 people and operated approximately 450 locations in
44 states. Hilltop Holdings’ common stock is listed on the New York
Stock Exchange under the symbol "HTH." Find more information at Hilltop-Holdings.com,
PlainsCapital.com,
PrimeLending.com,
Nationallloydsinsurance.com
and Hilltopsecurities.com.
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. These
forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause our actual results,
performance or achievements to be materially different from any future
results, performance or achievements anticipated in such statements.
Forward-looking statements speak only as of the date they are made and,
except as required by law, we do not assume any duty to update
forward-looking statements. Such forward-looking statements include, but
are not limited to, statements concerning such things as our plans,
objectives, strategies, expectations, intentions, growth, strategic
direction and other statements that are not statements of historical
fact, and may be identified by words such as “anticipates,” “believes,”
“could,” “estimates,” “expects,” “forecasts,” “goal,” “intends,” “may,”
“might,” “plan,” “probable,” “projects,” “seeks,” “should,” “target,”
“view” or “would” or the negative of these words and phrases or similar
words or phrases. For a discussion of certain factors that could cause
our actual results to differ materially from those described in the
forward-looking statements, please see the risk factors discussed in our
most recent Annual Report on Form 10-K and subsequent Quarterly Reports
on Form 10-Q and other reports that are filed with the Securities and
Exchange Commission. All forward-looking statements are qualified in
their entirety by this cautionary statement.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190315005035/en/
Ben Brooks | 214.252.4047
ben.brooks@hilltop-holdings.com
Source: Hilltop Holdings Inc.