M&A Deal Summary

LegacyTexas Financial Group Acquires Highlands Bancshares

On December 14, 2011, LegacyTexas Financial Group acquired financial services company Highlands Bancshares from Hersh Family Investments for 71M USD

Acquisition Highlights
  • This is LegacyTexas Financial Group’s 1st transaction in the Financial Services sector.
  • This is LegacyTexas Financial Group’s largest (disclosed) transaction.
  • This is LegacyTexas Financial Group’s 1st transaction in the United States.
  • This is LegacyTexas Financial Group’s 1st transaction in Texas.

M&A Deal Summary
Date 2011-12-14
Target Highlands Bancshares
Sector Financial Services
Buyer(s) LegacyTexas Financial Group
Sellers(s) Hersh Family Investments
Deal Type Add-on Acquisition
Deal Value 71M USD
Advisor(s) Commerce Street Holdings LLC (Financial)
Fulbright & Jaworski LLP (Legal)

Target

Highlands Bancshares

Dallas, Texas, United States
website
Highlands Bancshares, Inc. is the holding company for Dallas based Highlands Bank and the First National Bank of Jacksboro, Texas. Highlands is focused on providing individualized client service and high-quality, flexible products in a uniquely personal banking environment.

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Buyer(S) 1

Buyer

LegacyTexas Financial Group

Plano, Texas, United States

website

Category Company
Founded 1952
Sector Financial Services
Employees851
Revenue 415M USD (2018)
DESCRIPTION

LegacyTexas Financial Group is a bank holding company based in Plano, Texas. The company's holdings will include LegacyTexas Bank, which will also operate as ViewPoint Bank and First National Bank of Jacksboro. LegacyTexas Financial Group was founded in 1952 and is based in Plano, Texas.

DEAL STATS #
Overall 1 of 2
Sector (Financial Services) 1 of 2
Type (Add-on Acquisition) 1 of 2
State (Texas) 1 of 2
Country (United States) 1 of 2
Year (2011) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-11-25 LegacyTexas Group

Plano, Texas, United States

LegacyTexas is a commercial bank headquartered in Plano, Texas, that operates 20 branches in Collin, Dallas, Tarrant and Parker counties.

Buy -

Seller(S) 1

SELLER

Hersh Family Investments

Irving, Texas, United States

Investor Investor Investor Investor

website

Category Family Office
Founded 2004
PE ASSETS 100M USD
Size Small
Type Sector Agnostic
DESCRIPTION

NLM Capital is a private investment firm focused on acquiring mid-sized businesses in the water resources/infrastructure services, education, healthcare, and real estate sectors. NLM seeks profitable businesses with experienced management and strong market positions with growth prospects. NLM's looks to commit $3 to $30 million of equity per deal, with a total target transaction size of $15 to $150 million. NLM will not invest in businesses with limited revenues or that are engaged in direct retail, restaurants, or oil/natural gas. NLM was formed in 2004 and is based in Irving, Texas.

DEAL STATS #
Overall 1 of 3
Sector (Financial Services) 1 of 1
Type (Add-on Acquisition) 1 of 2
State (Texas) 1 of 2
Country (United States) 1 of 3
Year (2011) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-09-11 Sapling Learning

Austin, Texas, United States

Sapling is a provider of online learning platforms and integrated digital solutions for the Science, Technology, Engineering, and Mathematics (“STEM”) marketplace. Sapling provides online homework and assessment solutions to both the higher education and high school markets.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-11-07 Sapling Learning

Austin, Texas, United States

Sapling is a provider of online learning platforms and integrated digital solutions for the Science, Technology, Engineering, and Mathematics (“STEM”) marketplace. Sapling provides online homework and assessment solutions to both the higher education and high school markets.

Sell -
Mergr

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Company

Legal