The Industry's Leading Source For F&I, Sales And Technology

Top News

First Investors to Merge With Equity Firm

September 27, 2012

HOUSTON — First Investors Financial Services Group Inc. has entered into a definitive merger agreement with FIFS Holdings Corp., a company controlled by Aquiline Capital Partners LLC, a New York-based private equity firm investing in the financial services sector.

Under the merger agreement, FIFS Holdings will acquire all of the outstanding shares of First Investors common stock in an all-cash transaction valuing First Investors at $100 million. Stockholders of First Investors will receive $13.87 for each share of First Investors common stock they hold.

"The acquisition by Aquiline is the result of a thorough and competitive process focused on maximizing value for our stockholders," said Tommy A. Moore, Jr., president and CEO of the company. "Our board unanimously supports this transaction and believes that the acquisition will continue to expand the company's leadership position in the market it serves."

Jeff Greenberg, chief executive of Aquiline, stated, "We are excited to partner with Tommy Moore and his management team. They have an impeccable reputation and the track record at First Investors is outstanding throughout their 23-year history."


Your Comment

Please note that comments may be moderated. 
Leave this field empty:
Your Name:  
Your Email:  



KBB Predicts Industry Will Roll 1.14 Million Units in September

Kelley Blue Book predicts overall annual sales gains of between 7 and 10 percent for the rest of the year.