Former President and Co-Founder of Haas Wheat & Partners Starts New Investment Firm
Market Wire, October, 2006
Douglas D. Wheat announced today the formation of Foxbridge Partners, LLC, a new investment firm. Wheat has launched this new firm with Todd D. Robichaux, formerly of Haas Wheat & Partners.
"I'm pleased to begin this new venture," said Wheat, chairman and co-founder of Foxbridge Partners. "I started Haas Wheat in 1992 and had a wonderful, highly successful run. However, I felt it was time to create something new. This is a very amicable departure from Haas Wheat, and all parties are looking forward to the future."
Joining Wheat as a co-founder is Todd D. Robichaux, a former managing director and principal of Haas Wheat & Partners. While at Haas Wheat, the two successfully navigated transactions for Playtex Products, Inc., AMN Healthcare Services, Inc., Nebraska Book Company and Smarte Carte Corporation. Wheat was on the Board of Directors of each of these companies, and although Haas Wheat no longer has an investment in AMN Healthcare or Playtex Products, he continues to serve on those boards.
From 1989 to 1992, prior to his co-founding Haas Wheat & Partners, Doug Wheat was co-chairman of the investment firm Grauer & Wheat, and from 1984 to 1989, a member of the merchant banking group at Donaldson, Lufkin & Jenrette Securities Corporation (DLJ) where he specialized in leverage buyout financing. Mr. Wheat is one of a select group of individuals inducted into the DLJ Hall of Fame. While at DLJ, he played a key role in the development of the firm's merchant banking and leveraged buyout business, particularly in transactions involving The Seven-Up Company, Dr Pepper/Seven-Up Companies, Inc., Dr Pepper Bottling of the Southwest, Alliance Imaging (mobile MRI service), ALC Communications Corporation (provider of long distance telephone services), Thermadyne Industries, Inc., and Sybron International Corporation. For each of these companies, Mr. Wheat served as director.
Foxbridge co-founder, Robichaux, was a vice president at Wells Fargo Bank before joining Haas Wheat & Partners. He worked closely with Wheat in the acquisition financing of numerous Haas Wheat investments and served on the boards of directors of Playtex Products, Smarte Carte Corporation, Walls Industries, and Nebraska Book Company.
"It is only natural that Todd's next step would be to start an investment firm," said Wheat. "He is particularly gifted in analyzing and financing acquisitions, and we have worked many deals together over the past several years. I'm very pleased to enter into this new venture with him."
Wheat and Robichaux intend to continue pursuing transactions with companies that possess the same characteristics as those in which they previously participated.
"We are looking for a few great companies that can provide excellent returns to our investors," said Wheat. "We are not out to re-invent the wheel or stray from sound investment practices."
Wheat said they are currently analyzing several opportunities that will be financed on a deal-by-deal basis. In addition, they intend to begin raising a dedicated private equity fund in the near future.
Foxbridge Partners is an investment firm founded by Doug Wheat and Todd Robichaux. The offices are located at 2001 Ross Avenue - Suite 3100, Lock Box 140, Dallas, Texas 75201. Additional information is available at www.foxbridgepartners.com or by phone at 214.239.8636.
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