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Green Manning & Bunch Announces Sale
of Century Fire Protection
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DENVER — February 22, 2007 — The Construction Industry Practice at Green Manning & Bunch, Ltd. (GMB), one of the nation’s leading middle-market investment banks, announced today the sale of Atlanta-based Century Fire Protection, LLC (CFP), a portfolio company of Brighton Partners, to New York City-based private equity firm Wafra Partners. Wafra teamed with Scott Tutterow, the President of CFP, and other members of senior management at the Company, to successfully complete the transaction.
CFP is the leading independent non-union fire & life safety services company serving the Southeast region of the United States. The Company designs, fabricates, installs, repairs, services and inspects fire suppression systems for commercial, industrial, institutional, and multi-family residential customers throughout the Southeast, from offices in Florida, Georgia, North Carolina, South Carolina, and Tennessee. “I really believe this is just the beginning for Scott Tutterow and the rest of his management team. They are all young, talented and highly experienced. In only five years they built the most dominant fire and life safety services company in all of the Southeast. I can’t imagine what they will accomplish over the next five years with Wafra as a
partner,” said Aaron Bachik, managing director and head of the Construction Industry Practice at GMB.
As the exclusive advisor to Brighton and the management team in this transaction, GMB managed the entire sales process, including the identification and communication with both strategic and private equity acquirers, which led to CFP receiving numerous offers for the business. GMB assisted Brighton and the management team in their assessment of these offers and ultimately the successful structuring and negotiating of a completed transaction.
"We selected Aaron Bachik and his team at GMB for their industry expertise and they exceeded our expectations,” said Dan Broos, managing partner at Brighton. “While orchestrating a broad marketing process, GMB set and met an aggressive timetable for the transaction. Aaron and his team earned the respect of our management team and ultimately helped negotiate and close a transaction at the high end of our valuation expectations. We are very pleased with the outcome and believe that GMB played a critical role in our successful exit.”
This was GMB’s second successful advisory assignment in the fire & life safety services industry after advising Caltius Capital and their portfolio company, Consolidated Fire Protection, in its sale to Gryphon Investors in February of 2005.
Green Manning & Bunch, Ltd. is a middle market investment bank specializing in mergers and acquisitions, private placements of equity and debt, and strategic financial advisory services for clients nationwide out of offices in Denver, CO and Phoenix, AZ. GMB combines over $15 billion in transactional experience with industry specific expertise in Business Services, Construction, Consumer/Retail, Healthcare and Industrials, to deliver superior results for its clients. GMB’s corporate parent, CoBiz Inc.
(Nasdaq: COBZ), is a $2.1 billion financial holding company that offers commercial banking services; trust and fiduciary services; property and casualty insurance brokerage and risk management consulting services; and employee and executive benefits consulting and wealth transfer services.
Brighton Partners is an Atlanta-based private equity firm focused on making control equity investments in middle market companies located in the Southeast, Mid-Atlantic and Midwest.
Wafra Partners LLC Wafra Investment Advisory Group, Inc. is a New York City-based private equity firm focused on making control and significant minority investments in middle market companies located nationwide. |
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