Friedman Fleischer & Lowe

FFL Partners (formerly Friedman Fleischer & Lowe) was founded in 1997 by Tully Friedman, Spencer Fleischer, David Lowe, and Christopher Masto. Tully Friedman had previously co-founded the global private equity giant Hellman & Friedman, but established FFL to focus specifically on smaller, middle-market deals. The firm operates out of San Francisco and is managed by a team with extensive experience in operational management, investment banking, and consulting.

The firm focuses its investment efforts on four core target industries: healthcare services, financial services, business services, and consumer products. Since its inception, FFL has raised approximately $4.6 billion in investor commitments across several dedicated funds. The firm's investment performance has been highly rated, previously ranking as the top-performing private equity firm globally in the 2012 HEC-Dow Jones Private Equity Performance Ranking.

Operating with a team of over 20 investment professionals and several operationally-focused partners, FFL identifies companies where they can apply strategic and operational enhancements. Their historical portfolio includes notable consumer and service brands such as Church's Chicken and Tempur-Pedic. The firm's investor base is comprised of a variety of institutional investors, including pension funds and endowments.