We are actively executing on our business strategy. Some of our recent acquisitions include:
On January 7, 2011, we completed the acquisition of a majority of the common stock of Spectrum Brands Holdings, Inc. Spectrum Brands continues as a stand-alone company with its common stock traded on the New York Stock Exchange under the symbol “SPB”. Spectrum Brands has a portfolio of market-leading consumer brands and, we believe, is well positioned to generate stockholder value. With nearly 6,000 employees in 43 countries, Spectrum Brands generated net sales of approximately $3.2 billion in HGI’s fiscal 2011. For more information on Spectrum Brands, please visit www.spectrumbrands.com.
On April 6, 2011, we completed the acquisition of Old Mutual plc’s U.S. Life operations. Under new ownership, the companies have adopted a new corporate identity, Fidelity & Guaranty Life, as well as new insurance company names: Fidelity & Guaranty Life Insurance Company and Fidelity & Guaranty Life Insurance Company of New York. Headquartered in Baltimore, MD, Fidelity & Guaranty Life focuses their efforts on serving middle market consumers. Their products are distributed though Fidelity & Guaranty Life’s established, independent network of master general agents. Fidelity & Guaranty Life has approximately $16.4 billion of cash and investment assets under management as of HGI’s 2011 fiscal year-end. For more information on Fidelity & Guaranty Life, please visit www.fglife.com.
Additionally, in the first quarter of HGI’s fiscal year 2012, we completed the formation of Salus Capital Partners. Salus Capital provides secured asset-based loans to the middle market across a variety of industries with additional complementary financing throughout the capital structure. For more information on Salus Capital, please visit www.saluscapital.com.