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Sunday, April 11, 2021

Bank and Finance Notes: Crestline honored

Bank Boards

Simmons First National Corporation (Nasdaq: SFNC) has added Julie Stackhouse to its board of directors. Stackhouse has also been added to the board of directors of the company’s wholly-owned subsidiary bank, Simmons Bank.

Stackhouse is a former executive vice president at the Federal Reserve Bank of St. Louis, where she was responsible for, among other things, bank regulation, including supervision of bank holding companies and state member banks.

Simmons is a financial holding company headquartered in Pine Bluff, Arkansas, with total consolidated assets of approximately $22.4 billion as of Dec. 31, 2020. The company operations in Arkansas, Illinois, Kansas, Missouri, Oklahoma, Tennessee and Texas.

Veritex Community Bank has added Arcilia Acosta, founder, CEO and President of CARCON Industries and Construction, to its board of directors. Acosta is a celebrated 30-year business veteran. Her company, CARCON Industries and Construction, is a full-services construction firm based in Dallas with offices throughout Texas. CARCON is a 100% Minority/Woman-Owned Business Enterprise that specializes in transportation, industrial, commercial and education construction. Acosta is also the President and controlling principal of Southwestern Testing Laboratories, a geotechnical engineering and construction materials testing firm also based in Dallas.

Crestline recognized

Fort Worth-based Crestline Investors Inc., an institutional alternative asset manager, has announced that its Fund Liquidity Solutions  team was recognized as the 2020 Fund Financier of the Year in the Americas by Private Debt Investor magazine.

These awards acknowledge leaders across an array of categories and are the culmination of a broad-based voting process among industry participants, including peers and institutional investors.

Amit Mahajan and David Philipp, Managing Directors and co-heads of the Crestline FLS team accepted the award on behalf of the Crestline FLS team at a virtual ceremony on March 1, 2021.

“We are honored to be recognized by Private Debt Investor magazine and appreciate the continued support from our investors, sponsors and borrowers and other industry partners,” said Philipp. “This award reflects the numerous contributions and unwavering commitment by our team to provide bespoke financing solutions to mature private equity funds.”

“We are very proud to be able to partner with a growing number of financial sponsors and help them address liquidity needs at the fund and portfolio company levels,” said Mahajan. 

Throughout 2020, the Crestline FLS team used a variety of structures to expand its global portfolio of custom financing and capital solutions which allowed financial sponsors to support, grow and protect underling portfolio companies and provide liquidity to investors.

Hilltop adds to Dallas office

Hilltop Securities Inc. recently welcomed Brian Connery to its Fixed Income Capital Markets division in Dallas as director and municipal trader, reporting to Todd Bleakney, senior managing director, co-head of Debt Capital Markets. 

Connery brings 14 years of financial services experience to his role. He joins from Morgan Stanley where he served as vice president and high yield trader for their Municipal Fixed Income group. Prior to his time there, Connery worked with Citigroup as vice president of municipal fixed income, specializing in credit analytics and structured products.

HONORS/AWARDS

U.S. Energy Development Corporation of Arlington, an exploration and production firm which provides direct investments in energy, announced the firm has won the Best Oil & Gas Investment Company in North America in World Finance Oil & Gas Awards 2020.

Since 2007, World Finance has celebrated achievement, innovation and brilliance in its annual awards. The judging panel has more than 230 years of combined financial and business journalism experience.

“Congratulations to U.S. Energy for winning the Best Investment Company category in North America,” said Terrence Johnson, senior oil and gas awards coordinator at World Finance. “This year’s awards highlight the companies and organizations that are best equipped to thrive in the marketplace today, while meeting the highest international standards. We believe this year’s winners are best positioned for long-term success.”

Novaria acquisition

Fort Worth-based Novaria on March 9 announced the acquisition of The Young Engineers Inc. TYE is an expert in the design and manufacturing of aircraft and aerospace hardware, with a primary focus on fasteners and inserts. The terms of the deal were not disclosed.

This acquisition continues Novaria’s expansion into aerospace fasteners.

 “We have made several acquisitions since April 2020, all of which are unique contributors to our evolving business model,” said Novaria CEO Bryan Perkins. “The acquisition of TYE is an integral part of our strategy to expand our portfolio of proprietary and qualified products we offer customers.”

The company’s extensive product range consists of industry-standard and proprietary potted, mechanically attached, floating nut and panel fasteners.

TYE operations will continue at its Southern California facility with its tenured, skilled employees, including former owner and president Pat Wells.

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