Year: 2021
Flexpoint Ford, a private equity investment firm specializing in the financial services and healthcare industries, announced today several key promotions across the firm.
Benjamin Blum, who focuses on investments in our Asset Opportunities Fund, has been promoted to Managing Director
Stephane Essama, who is a member of our financial services private equity team, has been promoted to Principal
Elliot Lauzen, who is a member of our healthcare private equity team, has been promoted to Principal
“We are excited to announce the promotions of these talented investment professionals. As Flexpoint grows in size and scope, continuing to develop our world class team of experienced investors is important to the long-term success of the firm,” said Don Edwards, CEO and Founder of Flexpoint Ford. “These promotions reflect the important contributions that these individuals have made to the performance of the firm, as well as the impact they will have on Flexpoint in the future.”
Benjamin Blum joined the Flexpoint Ford’s asset opportunities team in 2016 as a Vice President. He has played an instrumental role in the development of Flexpoint Ford’s asset opportunities investment strategy, leading a number of investments across financial services subsectors and assets. Prior to joining Flexpoint, Ben was a Vice President at Morgan Stanley in the Fixed Income Division. He received a B.S.B.A. in finance, summa cum laude, from Washington University in St Louis.
Stephane Essama joined the Flexpoint Ford financial services team in 2018 as a Vice President. He is currently involved in several Flexpoint portfolio companies, including AFH Financial Group. Prior to joining Flexpoint, Stephane worked for Goldman Sachs, Kirkland & Ellis and DRW Trading Group. He received a B.S. in Aeronautics and Astronautics from the Massachusetts Institute of Technology, a J.D. from the University of Pennsylvania Law School, and an M.B.A. from the Wharton School at the University of Pennsylvania.
Elliot Lauzen joined the Flexpoint Ford healthcare team in 2017 as a Vice President. He is currently involved in several Flexpoint portfolio companies in the healthcare sector, including YPrime. Prior to joining Flexpoint, Elliot worked for Altaris Capital Partners and William Blair. He received an A.B. with honors in biology from Harvard University and an M.S. in biomedical engineering from the University of Southern California.
Flexpoint Ford, LLC (“Flexpoint Ford”) today announced that its Flexpoint Asset Opportunity Fund II (“Asset Opportunity Fund”) provided a preferred equity investment to support Estancia Capital Partners’ (“Estancia”) strategic investment in Reich & Tang Deposit Networks, LLC (“Reich & Tang” or “R&T”). Reich & Tang is a New York City-based provider of balance sheet liquidity solutions and technology to banks and broker-dealers.
On December 20, 2021, Estancia announced that it had signed definitive agreements to acquire a majority stake in Reich & Tang, with Reich & Tang’s management team continuing to own a meaningful equity stake in the business going forward. Estancia plans to work with R&T’s management team to accelerate the company’s continued expansion within the fast-growing and dynamic cash management market.
“We are excited to partner with Estancia, with whom we have had a long-term relationship, on the Reich & Tang transaction” said Daniel Edelman, Managing Director of Flexpoint Ford. “R&T has a long and storied history in the balance sheet liquidity market and Estancia’s investment bolsters the company’s management team with the backing of a strong, like-minded financial sponsor to execute on its next phase of growth. We look forward to continuing to work with Estancia and R&T as both a capital provider and thought partner, particularly via additional investments to facilitate R&T’s growth initiatives.”
Takashi Moriuchi, Co-Founder and Managing Director of Estancia, added “Flexpoint’s deep sector knowledge, ability to creatively structure investments, and our confidence that they will be a value-added, collaborative partner were key factors in our decision to work with them.”
Flexpoint Ford’s preferred equity investment comes from Flexpoint Asset Opportunity Fund II. Asset Opportunity Fund leverages the firm’s focus and expertise in financial services private equity to invest in opportunistic investments across financial services subsectors and assets.
Flexpoint Ford (“Flexpoint”), a private equity investment firm specializing in the financial services and healthcare industries, announced today it entered into a definitive agreement to acquire a majority stake of Clearstead Advisors, LLC (“Clearstead”), a Cleveland, Ohio-based RIA. The transaction is subject to regulatory approval and expected to close by the end of the year.
Clearstead is an independent financial advisory firm serving high net worth private and institutional clients at its offices in Cleveland, OH and Portland, ME. The firm was founded in 1989 and has approximately $29 billion in assets under management and advisement. For over 30 years, Clearstead has been providing prominent endowments, foundations, hospitals, and other institutions with objective and high-quality investment advisory services. In 2011, Clearstead combined its investment advisory acumen with tax and financial planning capabilities to broaden its services to private clients.
Clearstead’s services today include wealth advisory, financial planning, research, tax planning and compliance, investment management, family office administration, OCIO and non-discretionary investment advisory services. Within its investment management capabilities, Clearstead also provides its clients with open-architecture access to a broad range of alternative strategies. In 2021, Clearstead expanded its service suite with an acquisition of a trust business to provide fiduciary trust services to its clients.
Clearstead has grown by over $10 billion in assets under management and advisement over the past five years, through a combination of strong organic growth and tuck-in acquisitions. Flexpoint’s investment will enable Clearstead to expand services, continue to drive robust organic growth, and accelerate the pace of strategic acquisitions.
“This is a new chapter for Clearstead and we are thrilled by the opportunity to accelerate growth and continue to provide our clients with superior services through our partnership with Flexpoint Ford” said Dave Fulton, Chief Executive and Chairman of Clearstead. “We are fortunate to have found a like-minded partner who supports our values and has a strong track record of driving success through partnership with management teams.”
“We are extremely excited to partner with Clearstead, which has established itself as a prominent private and institutional client financial advisory firm,” commented Daniel Edelman, Managing Director at Flexpoint Ford. “Clearstead’s emphasis on independent fiduciary advice and holistic wealth management capabilities aligns with our vision for the future of the wealth management industry. We look forward to partnering with the team at Clearstead to continue its transformation into a market leading platform and accelerate growth both organically and through acquisitions.”
“Clearstead has built a first-class reputation for its comprehensive and holistic wealth management capabilities. We have developed a deep relationship with the management team and have found a strong alignment in the way the firm operates and services its clients, including its robust alternatives offerings,” said Steve Begleiter, Managing Director at Flexpoint Ford. “We could not have found a better partner in this space and we believe the firm is incredibly well positioned to continue its successful trajectory and become a major player in the wealth management industry.”
Current investor Rosemont Investment Partners will exit its minority interest in the firm following the transaction. Clearstead’s management will remain significant shareholders.
Flexpoint Ford, a private equity investment firm specializing in the financial services and healthcare industries, announced today the final closing of its second asset investment fund, Flexpoint Asset Opportunity Fund II, L.P. (“Asset Fund II”), at $825 Million.
Asset Fund II will build on the strategy established in the predecessor fund, Flexpoint Special Assets Fund, L.P. (“Asset Fund I”), leveraging the firm’s focus and expertise in financial services private equity to invest in opportunistic asset-driven investments across financial services subsectors and assets. Asset Fund II will seek to construct a portfolio of diversified financial assets and structured investments.
“We are delighted with the success of the fundraising for Asset Fund II,” said Don Edwards, Chief Executive Officer of Flexpoint Ford. Noting that over 90% of Asset Fund II’s commitments came from existing investors in what was a limited fundraising process, he added, “We are very fortunate to have the support of many of the leading limited partners in the investment community. We attribute this support to the outstanding investment returns of our prior funds and, importantly, the consistent execution of Flexpoint’s strategy.”
Kirkland & Ellis LLP served as legal counsel for Asset Fund II. Flexpoint Ford did not use a placement agent.
Alera Group, Inc., a top 20 largest independent, national insurance and financial services firm, announced it has signed a definitive agreement to merge with Propel Insurance Agency (Propel), one of the nation’s top 50 largest privately held insurance brokers. Headquartered in Tacoma, Washington, Propel’s leading property and casualty capabilities will bolster Alera Group’s presence in the Northwest and Southeast regions, complementing the company’s current insurance and financial services offerings.
To further position the combined company for future growth and in support of the merger, Alera Group will also undergo a recapitalization. Alera Group has secured new capital from its existing private equity partner, Genstar Capital, which helped form the company in 2017, as well as from Propel’s current capital partner, Flexpoint Ford, a Chicago-based private equity firm specializing in the financial services and healthcare industries.
“Fueled by our culture of collaboration, we’ve built a formidable national organization providing an enhanced client experience through products and services delivered at the local level,” said Alan Levitz, CEO of Alera Group. “The merger with Propel marks the next step in our explosive growth journey. We believe that we are truly better together and that we have the opportunity to positively impact the experience of our clients and our colleagues as we become one company.”
Founded in 1923, Propel is a recognized leader in providing innovative insurance solutions. The agency brings considerable expertise in the senior living and construction verticals and will augment Alera Group’s already robust P&C practice with industry-leading competencies in commercial insurance, workers’ compensation and personal lines, in addition to surety solutions and employee benefits. The Propel merger adds 485 employees and eight new locations, bringing Alera Group’s workforce to nearly 3,000 colleagues.
“This merger will join two key players in the insurance industry and will not only enhance both companies, but also build a solid foundation for future growth and success,” said Kurt Carlson, President and CEO at Propel Insurance. “With Propel and Alera Group joining forces, we expect to continue to expand nationally, building an inclusive and diverse team while we enhance the client experience.”
“Alera Group’s growth and scale have exceeded the expectations we set in 2017 when we helped form the company. This success, along with a talented management team, collaborative culture, and positive reputation in the marketplace, are why we are excited to recommit as Alera Group’s financial partner. We look forward to working with the Alera Group and Propel employee shareholders and Flexpoint Ford as Alera Group continues on its transformative journey,” said Ryan Clark, President and Managing Director at Genstar Capital.
“For the past three years, we have partnered with the Propel team and watched how the unmatched level of service they provide to clients has led to impressive organic growth and a national reach,” said Chris Ackerman, Managing Director at Flexpoint Ford. “We are looking forward to this next chapter and we’re confident that Propel and Alera Group together are more equipped than ever to serve clients with innovative insurance solutions,” added Dominic Hood, Managing Director at Flexpoint Ford.
The transaction is expected to close in 2021 and is subject to customary closing conditions and regulatory approvals. Evercore is serving as financial advisor to Alera Group and Barclays is serving as financial advisor to Flexpoint Ford and Propel. In addition, Ropes & Gray is serving as legal counsel to Genstar, Kirkland & Ellis and Levenfeld Pearlstein are representing Flexpoint Ford and Propel, and Harrington & McCarthy and K&L Gates are representing Alera. Following consummation of the transaction, the Propel team will continue serving its existing clients in its existing roles. Financial terms of the transaction were not disclosed.
PayFacto Payments Inc. (“PayFacto” or “the Company”), a leading provider of payment solutions and point-of-sale technologies, is pleased to announce an equity investment of up to C$150 million, to accelerate PayFacto’s growth, led by private equity firm Flexpoint Ford with participation from BMO Capital Partners.
PayFacto, one of Canada’s largest non-bank payment processors, is a leading provider of high-quality, fully integrated payment processing technologies and hospitality technology solutions for over 30,000 merchants in Canada, the U.S., and the UK. The growth equity investment will be used to finance PayFacto’s significant expansion in the U.S. market, leveraging its acquiring bank partnership with Community Federal Savings Bank (“CFSB”). The investment follows PayFacto’s acquisition of the Maitre’D and Veloce point-of-sale (“POS”) software systems and will accelerate the Company’s growth strategy including further enhancing PayFacto’s suite of payment products, launching PayFacto’s new cloud-based point-of-sale system, and funding future acquisitions.
“With its impressive track record and experience in the financial services sector, Flexpoint Ford is the ideal partner to help drive PayFacto’s growth,” said Martin Leroux, President and CEO of PayFacto. “We’re incredibly proud of everything we’ve accomplished as a Canadian company; now we’ve reached an exciting inflection point and our new financial partners will help take us to the next level in our company’s evolution. Flexpoint Ford not only has a deep knowledge of the payments sector, but they also share our values and vision for success. We’re pleased that BMO, which debt financed our two POS acquisitions, will continue to be part of our growth story, now as an equity investor.”
Arjun Thimmaya, Managing Director at Flexpoint Ford, commented, “We’re excited about PayFacto’s growth potential and the opportunity to further expand its presence in the U.S. by combining payment and POS technologies. PayFacto is a true Canadian success story, and we’re eager to help replicate that success in the U.S. We were particularly impressed with the depth of PayFacto’s management team—they have the experience and capabilities to make their vision a reality.”
“We look forward to working with management to accelerate PayFacto’s strong organic growth and remain focused on collaborating with the team to further the Company’s inorganic growth strategy in both payments and POS software systems,” added Vilas Nair, Principal at Flexpoint Ford. “Given PayFacto’s history of acquiring and integrating companies in both markets, we believe they are well-positioned as an acquiror of choice.”
Alex Baniczky, Head, BMO Capital Partners, added, “Bank of Montreal has enjoyed a longstanding partnership with PayFacto as a lender, and we’re pleased to participate in the PayFacto story as a shareholder and to work with Flexpoint Ford. We see a lot of upside potential with PayFacto as they grow their presence in the U.S.”
RBC Capital Markets served as the exclusive financial advisor and BCF served as legal counsel to PayFacto. Stikeman Elliott LLP and Kirkland & Ellis LLP served as legal counsel to Flexpoint Ford. Oliver Wyman acted as a strategic advisor to Flexpoint Ford. Miller Thomson LLP served as legal counsel to BMOCP.
LERETA, LLC (“LERETA” or “the Company”), a leading national provider of real estate tax and flood services for mortgage servicers, and its equity holders, including funds managed by Tarsadia Investments, LLC, announced today that they have reached an agreement to sell the Company to private equity firms Flexpoint Ford and Vestar Capital Partners. The transaction is expected to close within 30 days.
LERETA’s chief executive officer, John Walsh, and the current senior management team will continue to lead the Company.
LERETA serves more than 4,000 customers nationwide. The Company processes more than $17 billion in tax payments annually and monitors more than 25 million loans for flood determinations. Over the past two years, the Company has met 99.9% of its service level agreements for all customers.
Commenting on the transaction, Walsh said, “Flexpoint Ford and Vestar Capital Partners represent an ideal partnership for LERETA. The combination of these two well-regarded firms provides deep experience in financial services and a wealth of knowledge around scaling and enhancing technology. LERETA has distinguished itself by providing a high level of customer service in our markets. As a result, we’ve been successful in adding new customers and building market share. This transaction will enable us to accelerate our already strong growth, step up our investments in technology and scale our operations to address the changing needs of the mortgage servicing industry.”
“We found that LERETA’s customers really valued its flexibility, attentiveness and white-glove customer service. The Company’s planned increase in technology investments will continue to further enhance its customers’ experience,” said Steve Begleiter, Managing Director at Flexpoint Ford. “We are thrilled to partner with John, the LERETA team and Vestar in the next chapter of LERETA’s success. The Company’s focus on providing best-in-class service and the planned investment in its technology positions the business for an exciting future,” added Arjun Thimmaya, Managing Director, Flexpoint Ford.
“LERETA’s robust systems and service-oriented, client-first approach have enabled the Company to deliver high-quality, regulatory-compliant solutions for its customers’ most complex needs for over 35 years,” said Nikhil Bhat, Managing Director and Co-Head of Business & Technology Services at Vestar Capital Partners. “We are excited to support management as they accelerate the Company’s technology investments, further enhancing the speed, accuracy, and reliability of LERETA’s products while facilitating seamless integration with customers’ mission-critical workflows.”
Financial details of the transaction were not disclosed.
Rothschild & Co served as the lead financial advisor to LERETA and its board of managers, and Kirkland & Ellis, LLP served as legal counsel to LERETA. American Discovery Capital also served as a financial advisor to LERETA and its board of managers. Raymond James served as financial advisor to Flexpoint Ford and Vestar Capital Partners. Wachtell, Lipton, Rosen & Katz served as legal counsel to Flexpoint Ford. Kirkland & Ellis, LLP served as legal counsel to Vestar Capital Partners.
Flexpoint Ford (“Flexpoint”), a private equity investment firm specializing in the financial services and healthcare industries, is pleased to announce the completion of its acquisition of AFH Financial Group plc (“AFH”), a leading UK financial planning-led wealth management firm.
Since its IPO in 2014, AFH has been providing wealth management and financial advisory services to over 20,000 clients in the UK. The firm seeks to deliver on its strategy focused on increasing shareholder value through a combination of organic growth via greater productivity of advisers and by value accretive acquisitions financed on an earn-out model.
“We could not be more excited to announce the completion of our acquisition of AFH, our very first platform investment in the UK,” said Daniel Edelman, Managing Director of Flexpoint Ford. “We look forward to working with AFH’s management team, who share our values, and remain confident in the continued success of AFH and its next phase of growth in the private domain.”
“With a highly fragmented market, there was a clear opportunity to consolidate in order to better serve customers and create increased value,” said Steven Begleiter, Managing Director of Flexpoint Ford. “We are confident this partnership will strengthen and reaffirm the company’s current growth trajectory.”
“We are pleased to officially join the Flexpoint family and are excited for the opportunities yet to come as we benefit from their team’s expertise and client-centric mentality,” said Alan Hudson, Chief Executive Officer of AFH Financial Group plc. “There is a strong strategic and cultural fit for all stakeholders and we are confident that our partnership will enable us to service growing client needs and grow market share, reflecting our strong track record of increasing shareholder value.”
Raymond James Financial International Limited acted as exclusive financial advisor, and Kirkland & Ellis International LLP acted as legal advisor to Flexpoint Ford.
Propel Insurance (“Propel” or the “Company”), one of the nation’s largest privately-owned insurance agencies and a portfolio company of Flexpoint Ford (“Flexpoint”), announced today it has acquired South Carolina-based South Risk Management (“SRM”), a leading construction-focused insurance consulting firm.
The acquisition of SRM expands Propel’s presence into South Carolina and adds to the Company’s existing Southeast footprint, which includes Knoxville, Charlotte, Atlanta, and Orlando. The SRM team will be a valuable addition to Propel’s industry-leading construction risk practice.
“We are pleased to welcome SRM into the Propel family, underscoring our commitment to growing our specialties nationwide by welcoming strategic partnerships and top industry talent,” said Kurt Carlson, President and CEO of Propel. “Propel is recognized as a leader in providing creative insurance solutions for our clients. Our long-standing partnerships with many of the nation’s leading carriers, combined with our value services, translate into a competitive edge for our clients.”
“We are thrilled to be joining Propel, a highly-respected and innovative leader in the insurance industry,” said Patrick McKain, a founding partner of SRM. “We have shared values and a like-minded approach to delivering unparalleled advice and solutions to our clients.”
SRM founding partners David Wells, Tripp Hafner, and W.D. Morris look forward to expanding Propel’s existing construction practice with John Babson taking on a leadership role. The team will leverage the broader pool of resources available at Propel in order to continue providing risk management services to help their clients address complex issues and support their business growth.
Richard Todd, Regional Director in Propel’s Charlotte office, added, “This transaction will complement our footprint in the Southeast. We remain excited about our growth and will continue to provide a compelling opportunity for insurance advisors who are looking to join a national leader.”
Canadian Hospital Specialties Ltd. (“CHS”), a leading specialty distributor and manufacturer of medical and surgical products, announced today it has received a strategic investment from Flexpoint Ford (“Flexpoint”), a private equity investment firm specializing in the healthcare and financial services industries. Previously majority-owned by affiliates of Cortec Group, CHS will continue operating as an independent company led by CEO Mike Canzoneri and the company’s current management team, who will continue to be owners in the business. The company will remain headquartered in Oakville, Ontario.
Founded in 1967, CHS is one of the most well-respected providers of innovative medical products and customized patient care solutions for customers throughout the healthcare market in Canada and internationally. CHS serves healthcare providers and patients with a wide range of specialty solutions and locally manufactured products and works to introduce the most advanced medical technology in a mission to improve patient care and outcomes.
“We are delighted to welcome Flexpoint Ford as a highly strategic investor to CHS and are excited to leverage their deep expertise across our focus markets,” said Mike Canzoneri, CEO of CHS. “With this new partnership, we remain well-positioned for growth and will continue to provide customers and suppliers with the innovative, essential products and value-added solutions they’ve come to expect from our team for over 50 years.”
“We have followed CHS closely for many years and see numerous opportunities to grow the business over the long term,” said Jonathan Oka, Managing Director at Flexpoint Ford. “The company has a leading market position and well-established reputation within the medical device industry, and we are proud to partner with Mike and his team. The addition of CHS to the Flexpoint portfolio underscores our commitment to investing in high-quality healthcare companies in partnership with their management teams and employees.”
The Flexpoint team included Jonathan Oka, Dan Grigorescu, and Blake Heyde. As part of the transaction, Flexpoint received financial advice from Cain Brothers, a division of KeyBanc Capital Markets. The company’s financial advisors were Harris Williams LLC and TM Capital Corp. Terms of the transaction were not disclosed.
DASH Financial Technologies (“DASH”), the leading options technology and execution provider in the U.S., today announced that ION Investment Group (“ION”) has entered into a definitive agreement to acquire the company from Flexpoint Ford, LLC (“Flexpoint Ford”).
“This is a very exciting moment for our firm as we embark on the next chapter of growth. Under ION’s ownership, we will continue to invest in product innovation that drives value for our clients while also benefiting from ION’s global reach and established network of relationships,” said co-founder Peter Maragos, who will continue to serve as CEO of DASH. “We are incredibly grateful for the contributions and support we received from Flexpoint Ford and are thrilled about what this new partnership allows us to do for our clients.”
Andrea Pignataro, ION’s CEO said: “DASH’s solutions optimize and improve execution quality and transparency for both the buy-side and sell-side. DASH was built on the ethos of great technology, deep domain expertise and strong customer service. DASH’s team is additive to the DNA of our ION Markets division, particularly with their domain expertise in options and customer-centric approach.”
Steve Begleiter and Daniel Edelman, both Managing Directors at Flexpoint Ford, said: “DASH has built the leading technology and execution platform in the options space. We very much enjoyed working with them; they did a tremendous job of executing on both organic growth initiatives as well as accelerating growth through acquisition efforts.”
Jefferies served as financial advisor to DASH and Kirkland & Ellis LLP served as legal counsel to Flexpoint Ford and DASH.
The transaction is subject to customary regulatory approvals.
Flexpoint Ford, a private equity investment firm specializing in the financial services and healthcare industries, announced that it has entered into an agreement to acquire AFH Financial Group plc (“AFH”), a leading UK financial planning-led wealth management firm.
“We believe that the UK wealth management market is currently undergoing an important transition, as regulatory and demographic trends are driving increasing demand for high quality financial advice that can be met by IFA firms with a long-term and client-centric view. In addition, the market is highly fragmented, which provides an opportunity to service customers better and create value through consolidation,“ said Steven Begleiter, Managing Director of Flexpoint Ford.
“We are pleased to announce our first platform investment in the UK,” added Daniel Edelman, Managing Director of Flexpoint Ford. “Since its founding more than 20 years ago, AFH’s management team has demonstrated long-term growth both organically and through acquisitions. Flexpoint shares the management team’s vision for growth and believes the next phase of AFH’s development would be better conducted in the private domain. We believe our partnership will strengthen the business and look forward to supporting management in the future.“
“Since our IPO in 2014, AFH has grown to become a leading brand in the financial planning-led wealth management market,” said Alan Hudson, Chief Executive Officer of AFH Financial Group plc. “The Executive Directors and I have always sought to deliver on our strategy of organic and M&A-led growth, but in recent years this has been curtailed by being an AIM-quoted company. We believe the offer reflects our strong track record of increasing shareholder value, Flexpoint’s endorsement of our strategy and confidence in the continued success of AFH, as well as further investment required in the business.”
Hudson continued, “Through its portfolio of leading financial services investments, Flexpoint has demonstrated its strong track record of partnering with entrepreneurial businesses, and the Executive Directors and I believe there is a great strategic and cultural fit for clients, staff and wider stakeholders. With the backing of Flexpoint’s expertise and access to capital, we believe that we will be able to accelerate the delivery of our strategy. The Executive Directors and I believe that the demand for professional financial planning-led investment services will continue to grow and that AFH partnered with Flexpoint will be able to service growing client needs and grow market share.”
The acquisition has been unanimously approved by the Independent Directors of AFH and is pending both regulatory and shareholder approval. AFH will continue to serve its clients, as usual, without interruption.
It is intended that the transaction will be implemented by means of a Court-sanctioned scheme of arrangement under Part 26 of the Companies Act.
The transaction is conditional on, amongst other things, approval of the Financial Conduct Authority of the change of control of AFH Financial Group plc.
Raymond James Financial International Limited is acting as exclusive financial advisor, and Kirkland & Ellis International LLP is acting as legal advisor to Flexpoint Ford.
For full details of the offer please see the Rule 2.7 announcement at: https://afhwm.co.uk/investor-relations/announcements/
Flexpoint Ford, a private equity investment firm specializing in the financial services and healthcare industries, announced today the promotions of Michael Fazekas and Dominic Hood to Managing Director, and Dan Grigorescu, Vilas Nair and Thomas Shi to Principal.
“We are excited to announce the promotions of these talented investment professionals. As Flexpoint grows in size and scope, continuing to develop our world class team of experienced investors is important to the long-term success of the firm,” said Don Edwards, CEO and Founder of Flexpoint Ford. “These promotions reflect the important contributions that these individuals have made to the growth and performance of the firm, as well as the impact they will have on Flexpoint going forward.”
Michael Fazekas joined the Flexpoint Ford healthcare team in 2007 as an Associate. He is currently a board member of MobilityWorks and TopRx and has played an instrumental role in a number of Flexpoint Ford’s past investments in the healthcare sector. Prior to joining Flexpoint, Michael worked for J.P. Morgan. Mr. Fazekas received an A.B. in economics with honors from the University of Chicago and an M.B.A. with honors from the Wharton School at the University of Pennsylvania, where he was a member of the Health Care Management program.
Dominic Hood joined the Flexpoint Ford financial services team in 2010 as an Associate. He is currently a board member of TigerRisk Partners, MobilityWorks, Propel Insurance and Purchasing Power and has played an instrumental role in a number of Flexpoint Ford’s past investments in the financial services sector. Prior to joining Flexpoint, Dominic worked for Wachovia Securities. He received an A.B. from Harvard College and an M.B.A. with honors from the University of Chicago Booth School of Business.
Dan Grigorescu joined the Flexpoint Ford healthcare team in 2015 as a Vice President. He is currently involved in a number of Flexpoint portfolio companies in the healthcare sector including SouthEast Eye Specialists, Select Rehabilitation and MGA Homecare. Prior to joining Flexpoint, Dan worked for Health Enterprise Partners, Frazier Healthcare, Barclays Capital and Bear Stearns. He received a B.S.B.A with honors from Ohio State University and an M.B.A. from Harvard Business School.
Vilas Nair joined the Flexpoint Ford financial services team in 2015 as an Associate. He is currently involved in a number of Flexpoint portfolio companies in the financial services sector including Sticky.io and Dash Financial Technologies. Prior to joining Flexpoint, Vilas worked for TA Associates and Moelis & Company. He received a B.B.A. with high distinction from the Ross School of Business at the University of Michigan.
Thomas Shi joined the Flexpoint Ford financial services team in 2016 as a Vice President. He is currently involved in a number of Flexpoint portfolio companies in the financial services sector including TRAKAmerica and Great Ajax. Prior to joining Flexpoint, Thomas worked for GIC, Warburg Pincus and Evercore. He received a B.S. in Economics, concentrating in Finance and Accounting, magna cum laude, from the Wharton School at the University of Pennsylvania.