Irvine, CA – Portfolio Group appointed Brent E. Griggs as the company’s president. He joins Portfolio Group from Lyndon Property Insurance Co., where he served as Chairman and CEO. Griggs also joins the Board of Directors, which is chaired by Thomas A. Dattilo, a 37 year automotive industry executive who formerly served as CEO of Cooper Tire, and includes Steve Burke, founder and CEO of Portfolio Group, along with Ron Kuehl and Paul Carbery of Frontenac Co.
Founded in 1990, Portfolio Group provides its more than 900 dealer clients management of all facets of dealers’ aftermarket, extended warranty and vehicle service contract programs, including establishing and administering dealer-owned risk transfer and reinsurance companies. Frontenac Co., a middle-market private equity firm, recently completed a majority investment in Portfolio Group.
“Portfolio Group is highly respected in the automotive finance and insurance industry for its passionate focus on enhancing the value of every dealer customer and I am excited to join the Portfolio team,” said Griggs. “We believe there is significant growth potential from combining Portfolio’s outstanding people and proven business model with the strength and resources of a trusted, value-added partner like Frontenac.”
“Brent’s industry experience, coupled with his proven leadership skills, will enable the company to accelerate its marketing efforts, take advantage of new opportunities and enhance operational efficiencies to elevate the company’s growth to the next level,” said Burke. “Part of the reason we formed our partnership with Frontenac was to have the resources and ability to invest in human capital talent for the future; bringing Brent to the team positions us for the long-term growth of our business.”
“Frontenac’s investment in Portfolio Group and the addition of Brent’s strong leadership is another good example of our long history of executive partnerships aimed at assisting high potential companies to achieve their full capabilities,” added Kuehl.
In addition to his service at Lyndon Property Insurance Company, Griggs led Protective Life Corporation’s Asset Protection Division. This division included the company’s dealer finance and insurance business, which he helped grow into an industry leader in the vehicle service contract, GAP and credit insurance markets. Before joining Protective, Griggs co-founded AutoQuest Administrative Services, a national vehicle service contract marketer and administrator. Griggs began his career with Chevron Corporation in San Francisco where he served in various finance leadership positions.
