Eaton completes acquisition of Fibrebond

Eaton completes acquisition of Fibrebond

  • Expands Eaton’s presence in growing market for modular solutions for multi-tenant and hyperscale data center customers
  • Acquisition provides differentiated offering in fast-growing markets

DUBLIN–(BUSINESS WIRE)–
Intelligent power management company Eaton (NYSE:ETN) today announced it has completed the acquisition of Fibrebond, a designer and builder of pre-integrated modular power enclosures. Under the terms of the agreement, Eaton paid $1.4 billion for Fibrebond, which is expected to generate $110 million of estimated 2025 adjusted EBITDA. Eaton expects the deal will be neutral from an earnings per share standpoint in 2025.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250401369562/en/

Fibrebond’s single electrical module unit

Fibrebond’s single electrical module unit

“Acquiring Fibrebond’s innovative and customer-focused business is a game-changing move that positions Eaton as a one-stop shop to rapidly deploy power infrastructure where it’s needed,” said Mike Yelton, president, Americas Region, Electrical Sector. “Their engineered-to-order power enclosures and service capabilities enhance our offerings, allowing us to move faster for our data center, industrial, utility and other customers. We couldn’t be more excited to add this critical capability for our customers in these growth markets.”

Fibrebond, based in Minden, Louisiana, builds innovative and reliable structures that protect people and mission-critical equipment for data center, fiber, industrial, and utility markets. The company estimates revenues of approximately $378 million for the 12 months ending February 28, 2025.

Eaton is an intelligent power management company dedicated to protecting the environment and improving the quality of life for people everywhere. We make products for the data center, utility, industrial, commercial, machine building, residential, aerospace and mobility markets. We are guided by our commitment to do business right, to operate sustainably and to help our customers manage power — today and well into the future. By capitalizing on the global growth trends of electrification and digitalization, we’re helping to solve the world’s most urgent power management challenges and building a more sustainable society for people today and generations to come.

Founded in 1911, Eaton has continuously evolved to meet the changing and expanding needs of our stakeholders. With revenues of nearly $25 billion in 2024, the company serves customers in more than 160 countries. For more information, visit www.eaton.com. Follow us on LinkedIn.

This press release contains forward-looking statements concerning, among other matters, the estimated financial performance of Fibrebond for 2025 and the transaction’s impact on Eaton’s expected 2025 earnings per share. These statements should be used with caution and are subject to various risks and uncertainties, many of which are outside Eaton’s control. The following factors, among others, could cause actual results to differ materially from those in the forward-looking statements: potential global pandemics; unanticipated declines in the markets for Eaton’s or Fibrebond’s business segments; unanticipated downturns in either Eaton’s or Fibrebond’s customer relationships or customer purchases; competitive pressures on sales and pricing; supply chain disruptions; unanticipated, non-recoupable increases in the cost of material, labor and other production costs; competitor, customer, or supplier introduction of disruptive or competing technologies; unexpected technical or marketing difficulties; unexpected or adverse determinations with respect to claims, charges, audits, investigations, court or administrative proceedings, litigation, arbitrations, judgments, or dispute resolutions; strikes or other labor unrest, or at our customers or suppliers; attrition of key personnel; challenges to optimizing manufacturing footprint; challenges to the performance and integration of any recent acquisitions, including Fibrebond; unanticipated difficulties closing any acquisitions; unexpected difficulties completing any divestitures; the effect, interpretation, or application of new or existing laws, regulations, legal proceedings, or accounting pronouncements impacting Eaton’s business segments; tariffs; interest rate changes; stock market and currency fluctuations; geo-political tensions, war, civil or political unrest or terrorism; and unanticipated deterioration of economic and financial conditions in the United States and globally. We do not assume any obligation to update these forward-looking statements.

Jennifer Tolhurst

+1 (440) 523-4006

[email protected]

KEYWORDS: Europe Ireland United States North America Louisiana

INDUSTRY KEYWORDS: Other Energy Machinery Utilities Sustainability Environmental Health Energy Environment Other Manufacturing Green Technology Automotive Manufacturing Aerospace Manufacturing

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Fibrebond’s single electrical module unit
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Fibrebond’s campus including new 300,000 square foot electrical integration facility, customer equipment warehouse and main manufacturing plant.
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W. R. Berkley Corporation Names Michael G. MacMullin President of Berkley Luxury Group

W. R. Berkley Corporation Names Michael G. MacMullin President of Berkley Luxury Group

GREENWICH, Conn.–(BUSINESS WIRE)–W. R. Berkley Corporation (NYSE: WRB) today announced the appointment of Michael G. MacMullin as president of Berkley Luxury Group. He succeeds Shadi Albert, who remains a key member of the W. R. Berkley Corporation team. The appointment is effective immediately.

W. Robert Berkley, Jr., president and chief executive officer of W. R. Berkley Corporation, commented on the appointment, “We thank Shadi for his leadership of Berkley Luxury Group and look forward to his further contributions to Berkley as he takes on new responsibilities. We are excited to welcome Mike to the group. His proven leadership and depth of experience will complement the expertise of the Berkley Luxury Group team. BLG has a long history of delivering exceptional service to our brokers and clients and we look forward to Mike continuing this tradition.”

Mr. MacMullin joins Berkley Luxury Group with more than 25 years of wide-ranging property and casualty insurance industry experience. He has held multiple leadership positions in the commercial insurance space, most recently leading all aspects of strategic portfolio initiatives and the product management lifecycle at a large U.S. insurance group. He has a long, accomplished history of driving sustained strong performance and positioning operations for profitable growth.

Berkley Luxury Group is the premier insurance provider for commercial hospitality, premium real estate and excess property clients. For further info about products and services available from Berkley Luxury Group, please visit www.berkleyluxurygroup.com.

Founded in 1967, W. R. Berkley Corporation is an insurance holding company that is among the largest commercial lines writers in the United States and operates worldwide in two segments of the property casualty insurance business: Insurance and Reinsurance & Monoline Excess. For further information about W. R. Berkley Corporation, please visit www.berkley.com.

This is a “Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein, including statements related to our outlook for the industry and for our performance for the year 2025 and beyond, are based upon the Company’s historical performance and on current plans, estimates and expectations. The inclusion of this forward-looking information should not be regarded as a representation by us or any other person that the future plans, estimates or expectations contemplated by us will be achieved. They are subject to various risks and uncertainties, including but not limited to, the success of our new ventures or acquisitions and the availability of other opportunities, our ability to attract and retain key personnel and qualified employees, and other risks detailed from time to time in the Company’s filings with the Securities and Exchange Commission. These risks could cause actual results of the industry or our actual results for the year 2025 and beyond to differ materially from those expressed in any forward-looking statement made by or on behalf of the Company. Any projections of growth in the Company’s revenues would not necessarily result in commensurate levels of earnings. Forward-looking statements speak only as of the date on which they are made, and the Company undertakes no obligation to update publicly or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.

Products and services are provided by one or more insurance company subsidiaries of W. R. Berkley Corporation. Not all products and services are available in every jurisdiction, and the precise coverage afforded by any insurer is subject to the actual terms and conditions of the policies as issued.

Karen A. Horvath

Vice President – External Financial Communications

(203) 629-3000

KEYWORDS: United States North America Connecticut

INDUSTRY KEYWORDS: Insurance Professional Services

MEDIA:

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MFS Announces Closed-End Fund Distributions

MFS Announces Closed-End Fund Distributions

BOSTON–(BUSINESS WIRE)–
MFS Investment Management® (MFS®) announced today monthly distributions of the following closed-end funds, all with declaration dates of April 1, 2025, ex-dividend dates of April 15, 2025, record dates of April 15, 2025, and payable dates of April 30, 2025:


Fund (ticker)

Income/

Share

Other

Sources/

Share*

Total

Amount/

Share

MFS® Charter Income Trust

(NYSE: MCR)^

$0.0000

$0.044790

$0.044790

MFS® Government Markets Income Trust

(NYSE: MGF)^

$0.0000

$0.019460

$0.019460

MFS® High Income Municipal Trust

(NYSE: CXE)

$0.0160

$0.0000

$0.0160

MFS® High Yield Municipal Trust

(NYSE: CMU)

$0.01450

$0.0000

$0.01450

MFS® Intermediate High Income Fund

(NYSE: CIF)^

$0.0000

$0.014490

$0.014490

MFS® Intermediate Income Trust

(NYSE: MIN)^

$0.0000

$0.019670

$0.019670

MFS® Investment Grade Municipal Trust

(NYSE: CXH)

$0.02750

$0.0000

$0.02750

MFS® Multimarket Income Trust

(NYSE: MMT)^

$0.0000

$0.033470

$0.033470

MFS® Municipal Income Trust

(NYSE: MFM)

$0.02150

$0.0000

$0.02150

^The fund has adopted a managed distribution plan. Under a managed distribution plan, to the extent that sufficient investment income is not available on a monthly basis, the fund will distribute long-term capital gains and/or return of capital in order to maintain its managed distribution level. You should not draw any conclusions about the fund’s investment performance from the amount of the fund’s distributions or from the terms of the fund’s managed distribution plan. The Board of the fund may amend the terms of the plan or terminate the plan at any time without prior notice to the fund’s shareholders. The amendment or termination of a plan could have an adverse effect on the market price of the fund’s common shares. The plan will be subject to periodic review by the Board. With each distribution that does not consist solely of net investment income, the fund will issue a notice to shareholders and an accompanying press release which will provide detailed information regarding the amount and composition of the distribution and other related information. The amounts and sources of distributions reported in the notice to shareholders are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the fund’s investment experience during its full fiscal year and may be subject to changes based on tax regulations. The fund will send shareholders a Form 1099-DIV for the calendar year that will tell them how to report these distributions for federal income tax purposes. The fund may at times distribute more than its net investment income and net realized capital gains; therefore, a portion of the distribution may result in a return of capital. A return of capital may occur, for example, when some or all of the money that shareholders invested in the fund is paid back to them. A return of capital does not necessarily reflect a fund’s investment performance and should not be confused with ‘yield’ or ‘income’. Any such returns of capital will decrease the fund’s total assets and, therefore, could have the effect of increasing the fund’s expense ratio. In addition, in order to make the level of distributions called for under its plan, the fund may have to sell portfolio securities at a less than opportune time. For estimated source information for distributions paid in prior periods, please see MFS.com and click on the following links: Products & Strategies, Closed-End Funds, Dividend Source Information.

*Distribution from “Other Sources” may contain sources of income other than ordinary income, such as short term capital gains, long term capital gains, or return of capital, which can not be determined until the close of the fund’s fiscal year end. Distributions that are treated for federal income tax purposes as a return of capital will reduce a shareholder’s tax basis in his or her shares and, to the extent the distribution exceeds a shareholder’s adjusted tax basis, will be treated as a gain to the shareholder from a sale of shares. Please see the fund’s most recent dividend source information available from payable date at MFS.com for the breakdown of the distribution.

Investors who want to make changes to their accounts should contact their financial advisor, brokerage firm, or other nominee with whom the shares are registered. If shares are registered with the funds’ transfer agent, Computershare, the transfer agent may be contacted directly at 800-637-2304, or www.computershare.com.

About MFS Investment Management

In 1924, MFS launched the first US open-end mutual fund, opening the door to the markets for millions of everyday investors. Today, as a full-service global investment manager serving financial advisors, intermediaries and institutional clients, MFS still serves a single purpose: to create long-term value for clients by allocating capital responsibly. That takes our powerful investment approach combining collective expertise, thoughtful risk management and long-term discipline. Supported by our culture of shared values and collaboration, our teams of diverse thinkers actively debate ideas and assess material risks to uncover what we believe are the best investment opportunities in the market. As of February 28, 2025, MFS manages US $622.9 billion in assets on behalf of individual and institutional investors worldwide. Please visit mfs.com for more information.

The funds are closed-end investment products. Common shares of the funds are only available for purchase/sale on the NYSE at the current market price. Shares may trade at a discount to NAV.

MFS Investment Management

111 Huntington Ave, Boston, MA 02199

15812.175

MFSShareholders or Advisors (investment product information):

Jeffrey Schwarz, 800-343-2829, ext. 55872

Media Only:

Dan Flaherty, 617-954-4256

KEYWORDS: United States North America Massachusetts

INDUSTRY KEYWORDS: Banking Professional Services Finance

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Industrial Logistics Properties Trust First Quarter 2025 Conference Call Scheduled for Wednesday, April 30th

Industrial Logistics Properties Trust First Quarter 2025 Conference Call Scheduled for Wednesday, April 30th

NEWTON, Mass.–(BUSINESS WIRE)–Industrial Logistics Properties Trust (Nasdaq: ILPT) today announced that it will issue a press release containing its first quarter 2025 financial results after the Nasdaq closes on Tuesday, April 29, 2025. On Wednesday, April 30, 2025 at 10:00 a.m. Eastern Time, President and Chief Operating Officer Yael Duffy, Chief Financial Officer and Treasurer Tiffany Sy and Vice President Marc Krohn will host a conference call to discuss these results.

The conference call telephone number is (877) 418-4826. Participants calling from outside the United States and Canada should dial (412) 902-6758. No pass code is necessary to access the call from either number. Participants should dial in about 15 minutes prior to the scheduled start of the call. A replay of the conference call will be available through 11:59 p.m. on Wednesday, May 7, 2025. To access the replay, dial (877) 344-7529. The replay pass code is 8454464.

A live audio webcast of the conference call will also be available in a listen-only mode on the company’s website, which is located at www.ilptreit.com. Participants wanting to access the webcast should visit the company’s website about five minutes before the call. The archived webcast will be available for replay on the company’s website after the call.

About Industrial Logistics Properties Trust

ILPT is a real estate investment trust focused on owning and leasing high quality distribution and logistics properties. As of December 31, 2024, ILPT’s portfolio consisted of 411 properties containing approximately 59.9 million rentable square feet located in 39 states. Approximately 77% of ILPT’s annualized rental revenues as of December 31, 2024 are derived from investment grade tenants, tenants that are subsidiaries of investment grade rated entities or Hawaii land leases. ILPT is managed by The RMR Group (Nasdaq: RMR), a leading U.S. alternative asset management company with over $40 billion in assets under management as of December 31, 2024 and more than 35 years of institutional experience in buying, selling, financing and operating commercial real estate. ILPT is headquartered in Newton, MA. For more information, visit www.ilptreit.com.

A Maryland Real Estate Investment Trust with transferable shares of beneficial interest listed on the Nasdaq.

No shareholder, Trustee or officer is personally liable for any act or obligation of the Trust.

Kevin Barry, Senior Director, Investor Relations

(617) 219-1489

KEYWORDS: United States North America Massachusetts

INDUSTRY KEYWORDS: REIT Finance Professional Services Commercial Building & Real Estate Construction & Property

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RenaissanceRe Schedules First Quarter 2025 Financial Results Conference Call

RenaissanceRe Schedules First Quarter 2025 Financial Results Conference Call

PEMBROKE, Bermuda–(BUSINESS WIRE)–
RenaissanceRe Holdings Ltd. (NYSE: RNR) (the “Company” or “RenaissanceRe”) will conduct an investment community conference call on Thursday, April 24, 2025, at 10:00 a.m. ET to discuss its financial results for the first quarter of 2025, as well as the Company’s outlook. RenaissanceRe will release its results following the close of market on Wednesday, April 23, 2025.

A live webcast of the conference call will be available through the Investors section of RenaissanceRe’s website at www.renre.com. An archive of the call will be available from approximately 1:00 p.m. ET on April 24, 2025, through midnight ET on May 1, 2025.

About RenaissanceRe

RenaissanceRe is a global provider of reinsurance and insurance that specializes in matching desirable risk with efficient capital. The Company provides property, casualty and specialty reinsurance and certain insurance solutions to customers, principally through intermediaries. Established in 1993, RenaissanceRe has offices in Bermuda, Australia, Canada, Ireland, Singapore, Switzerland, the United Kingdom and the United States.

Investor Contact:

RenaissanceRe Holdings Ltd.

Keith McCue

Senior Vice President, Finance & Investor Relations

441-239-4830

Media Contacts:

RenaissanceRe Holdings Ltd.

Hayden Kenny

Senior Vice President, Investor Relations & Communications

441-239-4946

Kekst CNC

Nicholas Capuano

917-842-7859

KEYWORDS: Caribbean United States Bermuda North America

INDUSTRY KEYWORDS: Insurance Professional Services

MEDIA:

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Equity Commonwealth Declares Its Final Cash Liquidating Distribution of $1.60 Per Common Share and Its Plan to Delist from NYSE

Equity Commonwealth Declares Its Final Cash Liquidating Distribution of $1.60 Per Common Share and Its Plan to Delist from NYSE

CHICAGO–(BUSINESS WIRE)–
Equity Commonwealth (NYSE: EQC) (the “Company”) announced today that its Board of Trustees has authorized the Company’s final cash liquidating distribution of $1.60 per common share (the “Final Cash Liquidating Distribution”) which will be paid on April 22, 2025 to shareholders of record on April 11, 2025. This brings the aggregate cash liquidating distributions to $20.60 per common share, inclusive of the $19.00 per share paid in December.

The Company also intends to file a Form 25, or Notification of Removal from Listing, with the Securities and Exchange Commission (“SEC”) and the New York Stock Exchange (“NYSE”) relating to the delisting of the common shares on or about April 11, 2025. The Company’s last day of trading on NYSE will be April 21, 2025. After payment of the Final Cash Liquidating Distribution and delisting from NYSE, the Company will continue the process of winding down, transfer any remaining assets and liabilities to a Maryland liquidating trust and deregister with the SEC, which is likely to occur before the end of the second quarter of 2025. EQC’s common shares will then be converted into beneficial interest units in the liquidating trust, on a one for one basis. Distributions from the liquidating trust, if any, would be nominal.

Because the payment of the Final Cash Liquidating Distribution represents more than 25% of the price of the Company’s common shares, NYSE has advised the Company that its common shares will trade with “due bills” representing an assignment of the right to receive the Final Cash Liquidating Distribution from the record date of April 11, 2025 through the closing of trading on NYSE on April 21, 2025, the last day of trading (this period of time representing the “Dividend Right Period”).

Shareholders who sell their common shares during the Dividend Right Period will be selling their right to the Final Cash Liquidating Distribution, and such shareholders will not be entitled to receive the Final Cash Liquidating Distribution. Due bills obligate a seller of common shares to deliver the Final Cash Liquidating Distribution payable on such common shares to the buyer and holder of the common shares as of the payment date (the “Dividend Right”). The record date of April 11, 2025 will be used as the date for establishing the due bill tracking of the Dividend Right to the holder of common shares.

Due bill obligations are customarily settled between the brokers representing the buyers and the sellers of shares. The Company has no obligation for either the amount of the due bill or the processing of the due bill. Buyers and sellers of the Company’s common shares should consult their brokers before trading to be sure they understand the effect of NYSE’s due bill procedures.

The U.S. federal income tax consequences of the cash liquidating distributions, as well as the Plan of Sale and Dissolution of the Company, are summarized in the Definitive Proxy.

About Equity Commonwealth

Equity Commonwealth (NYSE: EQC) is a Chicago based, internally managed and self-advised real estate investment trust (REIT).

Regulation FD Disclosures

We use any of the following to comply with our disclosure obligations under Regulation FD: press releases, U.S. Securities and Exchange Commission (“SEC”) filings, public conference calls, or our website. We routinely post important information on our website at www.eqcre.com, including information that may be deemed to be material. We encourage investors and others interested in the Company to monitor these distribution channels for material disclosures.

Forward-Looking Statements

This press release may contain forward-looking statements and information within the meaning of the federal securities laws. These statements, including statements relating to the expected tax treatment of distributions, are based on current expectations, estimates, projections and assumptions made by management. While Equity Commonwealth management believes the assumptions underlying its forward-looking statements are reasonable, such information is inherently subject to uncertainties and may involve certain risks. Other risks and uncertainties are described under the heading “Risk Factors” in our Annual Report on Form 10-K and subsequent periodic reports filed with the SEC and available on our website, www.eqcre.com. Many of these uncertainties and risks are difficult to predict and beyond management’s control. Forward-looking statements are not guarantees of future performance, results or events. Equity Commonwealth assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.

Investor Contact

Bill Griffiths, (312) 646-2801

KEYWORDS: United States North America Illinois

INDUSTRY KEYWORDS: Professional Services Other Construction & Property Commercial Building & Real Estate Finance Construction & Property REIT

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Badger Meter Schedules First Quarter 2025 Earnings Call

Badger Meter Schedules First Quarter 2025 Earnings Call

MILWAUKEE–(BUSINESS WIRE)–
Badger Meter, Inc. (NYSE: BMI) today announced that it will issue its first quarter 2025 earnings release before the market opens on Thursday April 17, 2025. Following the release, Badger Meter will hold its earnings conference call at 10:00am CT.

A live listen-only webcast will be accessible the day of the call from the Investor section of the Company’s website. Those wishing to actively participate in the conference call can pre-register utilizing the following link: https://www.netroadshow.com/events/login?show=7857e434&confId=79909. After registering, instructions will be provided on how to join the call. The webcast will be archived on the Company’s website until May 1, 2025.

About Badger Meter

With more than a century of water technology innovation, Badger Meter provides comprehensive water management solutions through its BlueEdge™ suite. This tailorable portfolio of smart measurement hardware, reliable communications, data visualization and analytics software and ongoing support and industry expertise give customers the edge in optimizing their operations and contributing to the sustainable use and protection of the world’s most precious resource. For more information, visit www.badgermeter.com.

Karen Bauer

(414) 371-7276

[email protected]

KEYWORDS: United States North America Wisconsin

INDUSTRY KEYWORDS: Other Energy Utilities Agriculture Natural Resources Sustainability Environment Energy Other Natural Resources

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UMH PROPERTIES, INC. DECLARES PREFERRED DIVIDEND

FREEHOLD, NJ, April 01, 2025 (GLOBE NEWSWIRE) — On April 1, 2025, the Board of Directors of UMH Properties, Inc. (NYSE:UMH) (TASE:UMH) declared a quarterly dividend of $0.3984375 per share for the period from March 1, 2025, through May 31, 2025, on the Company’s 6.375% Series D Cumulative Redeemable Preferred Stock payable June 16, 2025, to shareholders of record at the close of business on May 15, 2025. Series D preferred share dividends are cumulative and payable quarterly at an annual rate of $1.59375 per share.

UMH Properties, Inc., which was organized in 1968, is a public equity REIT that owns and operates 141 manufactured home communities, containing approximately 26,500 developed homesites, of which 10,300 contain rental homes, and over 1,000 self-storage units. These communities are located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Maryland, Michigan, Alabama, South Carolina, Florida and Georgia. Included in the 141 communities are two communities in Florida, containing 363 sites, that UMH has an ownership interest in and operates through its joint venture with Nuveen Real Estate.

Contact: Nelli Madden
732-577-9997

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City Office REIT Announces First Quarter 2025 Earnings Release and Conference Call

PR Newswire


VANCOUVER
, April 1, 2025 /PRNewswire/ — City Office REIT, Inc. (NYSE: CIO) (“City Office” or the “Company”) announced today it will release its financial results for the quarter ended March 31, 2025, before the market opens on Friday, May 2, 2025.

City Office’s management will hold a conference call at 11:00 am Eastern Time on May 2, 2025 to discuss the Company’s financial results.  Additionally, a supplemental financial package to accompany the discussion of the results will be posted on www.cioreit.com.

Webcast

Click on the webcast link under the “Investor Relations” section of the Company’s website at www.cioreit.com.

Telephone Conference Call

Domestic: 1-833-470-1428
International: 1-404-975-4839
Passcode: 926092

Please dial in at least 10 minutes before the scheduled start time.

Conference Call Replay

Domestic: 1-866-813-9403
International: 1-929-458-6194
Passcode: 647190

A replay of the call will be available later in the day on May 2, 2025, continuing through July 31, 2025.  A replay will also be available at “Webcasts & Events” in the “Investor Relations” section of the Company’s website.

About City Office REIT, Inc.

City Office REIT is an internally-managed real estate company focused on acquiring, owning and operating office properties located predominantly in Sun Belt markets. City Office currently owns or has a controlling interest in 5.4 million square feet of office properties. The Company has elected to be taxed as a real estate investment trust for U.S. federal income tax purposes.

Contact

City Office REIT, Inc.
Anthony Maretic, CFO
+1-604-806-3366
[email protected] 

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/city-office-reit-announces-first-quarter-2025-earnings-release-and-conference-call-302417510.html

SOURCE City Office REIT, Inc.

Colony Bankcorp, Inc. Expands Insurance Division With Acquisition of the Ellerbee Agency

Colony Bankcorp, Inc. Expands Insurance Division With Acquisition of the Ellerbee Agency

FITZGERALD, Ga.–(BUSINESS WIRE)–
Colony Bankcorp, Inc. (NYSE: CBAN) (“Colony” or the “Company”) today announced it has acquired The Ellerbee Agency, an Allstate appointed consumer property and casualty insurance agency. The agency will become part of Colony Insurance, the Company’s wholly-owned insurance subsidiary.

This acquisition expands Colony Insurance’s footprint and customer base with two new office locations in Monroe, Georgia (120 W Highland Avenue) and Greensboro, Georgia (1061 Parkside Commons, Suite 201).

Commenting on the announcement, T. Heath Fountain, Chief Executive Officer, said, “We are pleased to welcome The Ellerbee Agency to Colony. This acquisition supports our strategy of efficient growth and scalable expansion while staying true to our purpose of enabling progress in the communities we serve and delivering long-term value to our shareholders. The addition of experienced talent, strong customer relationships, and new markets positions us well for continued success.”

The Ellerbee Agency is led by Sean Ellerbee, a well-known industry professional with over two decades of experience. Sean will join Colony Insurance’s leadership team, where he will focus on sales and coaching efforts. The acquisition also includes the addition of eleven experienced agents, further strengthening Colony Insurance’s team.

Jason Barnes, President of Colony Insurance, added, “Sean and his team bring deep experience and a commitment to personalized service that aligns seamlessly with our culture. Their addition enhances our capabilities and creates new opportunities to improve our offerings as we continue to grow Colony Insurance.”

An investor presentation with additional details about the acquisition is available on the Investor Relations section of the Company’s website, www.colony.bank.

About Colony Bankcorp

Colony Bankcorp, Inc. is the bank holding company for Colony Bank. Founded in Fitzgerald, Georgia in 1975, Colony operates locations throughout Georgia as well as in Birmingham, Alabama; Tallahassee, Florida; and the Florida Panhandle. Colony Bank offers a range of banking solutions for personal and business customers. In addition to traditional banking services, Colony provides specialized solutions including mortgage lending, government guaranteed lending, consumer insurance, wealth management, credit cards and merchant services. Colony’s common stock is traded on the New York Stock Exchange (“NYSE”) under the symbol “CBAN.” For more information, please visit www.colony.bank. You can also follow the Company on social media.

Forward-Looking Statements

This press release contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. In general, forward-looking statements usually use words such as “may,” “believe,” “expect,” “anticipate,” “intend,” “will,” “should,” “plan,” “estimate,” “predict,” “continue” and “potential” or the negative of these terms or other comparable terminology, including statements related to the future performance of the Company. Forward-looking statements represent management’s beliefs, based upon information available at the time the statements are made, with regard to the matters addressed; they are no guarantees of future performance. Forward-looking statements are subject to numerous assumptions, risks and uncertainties that change over time and could cause actual results or financial condition to differ materially from those expressed in or implied by such statements. You should not place undue reliance on such forward-looking statements. The Company undertakes no obligation to update such forward-looking statements to reflect events or circumstances occurring after the issuance of this press release.

For additional information, contact:

T. Heath Fountain

Chief Executive Officer

(229) 426-6000 (Ext 6012)

KEYWORDS: United States North America Georgia

INDUSTRY KEYWORDS: Banking Professional Services Insurance Finance

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