Hilltop Holdings Inc.’s Hilltop Opportunity Partners Successfully Completes Preferred Equity Transactions
March 15 2019 - 8:00AM
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.
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Ben Brooks | 214.252.4047ben.brooks@hilltop-holdings.com
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