A.D. Frazier

Adolphus Drewry "A.D." Frazier Jr. (June 23, 1944 - September 23, 2024) was a prominent American business executive, investor, and civic leader based in Atlanta, Georgia. Born in Rocky Mount, North Carolina, Frazier earned both his undergraduate degree (1965) and law degree (1968) from the University of North Carolina, working his way through college. He began his career as a lawyer at C&S Bank in Atlanta, and quickly rose to prominence through his involvement in national affairs -- managing the 1977 inauguration of President Jimmy Carter and subsequently heading the team that reorganized the White House and Executive Office of the President under the Carter administration.

Frazier is perhaps best known for his role as Chief Operating Officer of the Atlanta Committee for the Olympic Games (ACOG), where he oversaw all operational aspects of the 1996 Centennial Olympic Games in Atlanta. The Games were a $1.7 billion initiative that essentially broke even -- a financial success widely credited to Frazier's leadership. His corporate career was equally distinguished: he served as President and CEO of INVESCO (a global investment management firm), Chairman and CEO of Danka Business Systems, Chairman of Gold Kist Inc., President and COO of Caremark Rx Inc., and Chairman and CEO of the Chicago Stock Exchange. He also served on corporate boards including Apache Corporation, Gevity Inc., Rock Tenn Corp., and R.J. Reynolds Tobacco Co.

In 2011, Frazier co-founded Georgia Oak Partners with Michael Lonergan, establishing a private equity firm focused on investing in small and medium-sized founder- and family-owned companies in the Southeast. He also served as owner and chairman of WolfCreek Broadcasting, a radio broadcasting company in North Georgia, and was co-founder and COO of BOTH USA, LLC. In 2018, he was nominated by President Donald Trump to the Board of Directors of the Tennessee Valley Authority, where he was sworn into office on January 9, 2018. Frazier passed away peacefully at his home in Mineral Bluff, Georgia on September 23, 2024, at the age of 80.

Georgia Oak Partners, under Frazier's leadership, pursued a value-added private equity approach focused on the following principles:

• Southeast-focused: Targeted founder- and family-owned companies primarily in Georgia and the broader Southeast US.
• Flexible deal structures: Offered the flexibility to complete full buyouts or invest as a significant minority equity partner, accommodating the needs of business owners seeking either succession solutions or growth capital.
• Hands-on partnership: Worked side-by-side with management teams on-site multiple times per month, assisting with strategy, operations, M&A, and other growth initiatives.
• Lower middle market: Focused on companies with $15M-$150M in revenue and up to $10M in EBITDA, with investment sizes of $5M-$20M.
• Sector breadth: Invested across manufacturing, home services, business services, consumer products, transportation, franchising, and software.
• Legacy preservation: Emphasized partnerships with owners focused on growing and preserving their business legacies, rather than short-term financial engineering.