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MJ Brock Corporation Stage: LBOs and Special Situations Date of Investment: 1986
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M.J. Brock, located in Los Angeles, California, was a major builder of
single family detached homes in Southern California and Sacramento. The
company was also active in Denver, Colorado. In May 1986, Brock was
purchased from CIGNA Corporation for $80 million in a transaction led
by Warburg Pincus. Warburg Pincus initiated and structured the
transaction with the belief that the long recovery in single-family
housing would continue at least through 1987 and that California home
builders like M.J. Brock would outpace the national market.
