Carlyle Group Sells Remaining Stake in Georgia's Brand Group

Carlyle Group has liquidated its remaining stake in Brand Group Holdings in Lawrenceville, Ga.

The $2.4 billion-asset parent of BrandBank did not disclose how many shares were sold by the New York private-equity firm. Carlyle was among the firms that invested $200 million in 2011 to recapitalize Brand.

Brand also disclosed that Eccles family – descendants of Utah banker and industrialist David Eccles – had become an investor. Keith Taylor, Carlyle's former director appointee, will rejoin the board to represent the new investor.

For reprint and licensing requests for this article, click here.
Community banking M&A
MORE FROM AMERICAN BANKER