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Founders Advises on the Disposition of Net Leased Industrial Properties
Founders Investment Banking, LLC is pleased to announce that it has successfully advised on the disposition of two net leased industrial properties—one located in Atlanta and the other in Birmingham—that are 100% occupied by Ferguson Fire and Fabrication, a division and wholly-owned subsidiary of Wolseley, plc of the United Kingdom. The properties were sold in a modified sale leaseback transaction by a group of shareholders that included Ray and Tim Bice.
The Bice family made this transaction the final piece of their liquidity and diversification strategy, which also included the previous sale of their manufacturing and distribution company, Guntersville Fabrication and Sprinkler Co. Inc., to Ferguson Fire and Fabrication. Founders acted as the exclusive advisor on the disposition of the real estate holdings as well as the operating company. “We have been very happy with the results that Founders has delivered over the past year,” said Tim Bice. “They were uniquely positioned to understand our needs and their experience and expertise helped us construct our leases in a way that enabled us to realize the full value of our real estate once we sold our business. We were pleased to work with Founders on both occasions.
Ferguson Fire and Fabrication (FFF) supplies high quality fire-protection products across the United States. The majority of the Company’s products are marketed predominately to fire-sprinkler contractors and are used in the construction of commercial and industrial projects. FFF has a geographic presence in 25 U.S. states and operates from 65 fabrication and distribution facilities.
Founders Investment Banking is an independent investment banking firm, headquartered in Birmingham, Alabama, that is dedicated to providing a comprehensive range of customized solutions for its clients, including merger & acquisition, corporate and strategic finance advisory services, as well as real estate investment services for owners of, and investors in, income producing commercial real estate. For more information on our firm, please visit our newly redesigned website at www.foundersib.com, call John H. Turner at 205-949-2043, or write Founders Investment Banking, LLC, 2204 Lakeshore Drive, Suite 425 Birmingham, AL 35209.