IRVINE, Calif. — Portfolio Group announced this week the appointed of Brent E. Griggs as the company’s new president. Griggs joins Portfolio Group from Lyndon Property Insurance Company, where he served as chairman and CEO.
Founded in 1990, Portfolio Group currently works with more than 900 dealer clients, managing all aspects of their aftermarket, extended warranty and vehicle service contract programs. Fontenac Co., a middle-market private equity firm, recently completed a majority investment in the company.
“Portfolio Group is highly respected in the automotive finance and insurance industry for its passionate focus on enhancing the value of every dealer customer, and I am excited to join the Portfolio team,” said Griggs. “We believe there is significant growth potential from combining Portfolio’s outstanding people and proven business model with the strength and resources of a trusted, value-added partner like Frontenac.”
Griggs also joins the company’s board of directors, which is chaired by Thomas A. Dattlio, former CEO of Cooper Tire, and includes Steve Burke, founder and current CEO of Portfolio Group. Also on the board are Ron Kuehl and Paul Carbery of Frontenac Co.
“Frontenac’s investment in Portfolio Group and the addition of Brent’s strong leadership is another good example of our long history of executive partnerships aimed at assisting high potential companies to achieve their full capabilities,” said Kuehl.
In addition to his service at Lyndon Property Insurance Company, Griggs led Protective Life Corp.’s Asset Protection Division, where he oversaw the company’s F&I business. Before joining Protective, Griggs co-founded AutoQuest Administrative Services, a national vehicle service contract marketer and administrator.