April 05, 2011 at 11:24 AM EDT
LMC Capital LLC Rebrands as Sherman & Company Holdings LLC Walter Sherman named Chairman Emeritus

LMC Capital LLC, an investment banking firm focused exclusively on the insurance industry, today announced that the firm has changed its name to Sherman & Company Holdings LLC (“Sherman & Company Holdings”). The new name more accurately represents the company’s foundation while recognizing the team spirit required in delivering high quality investment banking services to its clients. The company, our professionals, and the services we provide remain unchanged. In conjunction with the name change and introduction of a new logo, the company has launched a new website www.Sherman-Company.com.

Sherman & Company Holdings will continue to provide financial advisory services and capital raising solutions to companies in the property & casualty, life/health, insurance brokerage, and insurance technology/service sectors. The firm’s merger & acquisition advisory business has been growing significantly. Some 2010 accomplishments include:

  • Sole financial advisor to Ukpeagvik Iñupiat Corporation on the sale of Umialik Insurance Company to Western National Insurance Group
  • Sole financial advisor to Ebix, Inc. (NASDAQ: EBIX) on its merger with A.D.A.M., Inc. (NASDAQ: ADAM)
  • Rendered a fairness opinion to the Board of Directors and the Special Transaction Committee of Majestic Capital Ltd. (NASDAQ: MAJC) in connection with Majestic’s proposed sale to Bayside Capital Partners LLC
  • Sole financial advisor to PDMA, Inc. on its sale to ExlService Holdings, Inc. (NASDAQ: EXLS)
  • Sole financial advisor to Cover-All Technologies Inc. (OTCQB: COVR) on its acquisition of Moore Stephens Business Solutions LLC

Sherman & Company Holdings also welcomed two experienced insurance industry professionals into the firm in 2010: Ronald J. Fry and Elizabeth B. Reinhardt. Prior to joining the firm, Ron was an 11 year banker with Wachovia serving the insurance industry. Elizabeth, who recently received an MBA from Darden School of Business at the University of Virginia, has prior insurance brokerage and underwriting experience with Lloyd’s of London and Liberty Mutual.

Sherman & Company Holdings was founded as LMC Capital in April 2004 by Laughton Sherman and his father, Walter Sherman, on the belief that clients seek high quality advice from bankers with decades of experience who have a deep understanding of their company and the insurance industry. Since then, the firm has achieved significant growth, thanks to relationships with key clients and an expanding industry presence.

As Walter Sherman transitions into his new role as Chairman Emeritus, he says “I am very proud of what we have accomplished during the past seven years. I’m even prouder of this team of proven professionals we have assembled to serve the insurance industry. They are our greatest asset and their collective expertise is our finest product. They ensure the firm’s continuing reputation for providing extraordinary results for each and every client. Sherman & Company Holdings is, indeed, very well positioned to compete with larger investment banking firms now and in the future.”

Laughton Sherman added, “Since the founding of our firm, Walter has provided leadership, wise counsel, and the highest dedication to our business, employees, and clients. He has advised key clients on significant merger & acquisition transactions including the divestitures of Haulers Insurance Company and Leicht General Agency as well as Sagicor in its acquisition of American Founders Life Insurance Company. All were extremely important transactions for our clients and helped build the foundation of our firm. We are all grateful for his contributions and strategic guidance. “

He further noted, “As we continue to expand our team of industry-focused professionals, we look forward to ongoing strengthening of our advisory services in the insurance industry while maintaining our focus on client service.”

Contacts:

Sherman & Company Holdings LLC
Laura D. Nestico, 704-943-2660
Fax: 704-943-2666
LNestico@Sherman-Company.com
Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here