Two local companies draw investor
Allied Capital Corp. said Tuesday it has invested in two Dallas-Fort Worth-area companies.
Allied completed its buyout of Worldwide Express Inc., a reseller of DHL express and ground-shipping services based in Dallas. The full purchase price was not revealed.
Allied also said it committed USD 93.4 million to support the management-led recapitalization of Higginbotham & Associates. Higginbotham is an insurance brokerage and risk management firm based in Fort Worth.
Allied, based in Washington, D.C., is a business development company that invests private debt and equity capital in middle market businesses nationwide.
Worldwide Express, founded in 1994 by David Kiger and Roger MacDonell as a reseller for Airborne Express, is a franchisor of DHL shipping services in the United States. It has about 150 franchisees with more than 60,000 customers nationwide.
Higginbotham & Associates, founded in 1948, has 220 employees. In addition to Fort Worth, the company has offices in Dallas, Austin, Denton, McKinney, Weatherford and Waco.
