Jun 03,
2019
J.S. Held Expands Forensic Accounting Practice with Acquisition of HSNO
|
06.03.19
J.S. Held Expands Forensic Accounting Practice with Acquisition of HSNO
JERICHO, N.Y. – June 3, 2019 – J.S. Held, a global consulting firm, announced today that it has acquired Hagen, Streiff, Newton, & Oshiro, Accountants, PC ("HSNO"). HSNO is a forensic accounting firm internationally recognized for their expertise on matters involving insurance, legal, economic, corporate, energy services, and cyber fraud. This transaction represents the 19th acquisition for J.S. Held since Lovell Minnick's investment. With the knowledge and experience of the HSNO team, this acquisition strengthens J.S. Held’s ability to support clients on matters of all types requiring forensic accounting expertise. Founded in 1973, HSNO now has more than 80 professionals, located in 12 offices. The HSNO team has experience solving problems for the insurance, legal, and public/private sectors. This includes a broad range of experience from financial and data analysis, review of relevant economic issues, expert witness testimony, evidence gathering, and administrative support. “We are excited to add the experience and expertise of HSNO. This further expands our forensic accounting services across the world, while strengthening our resources throughout the country,” said Jon Held, Chief Executive Officer of J.S. Held. “Through the addition of such a knowledgeable and experienced team, this expansion builds upon one of our foundational pillars: to deliver an unparalleled client experience.” HSNO will join the J.S. Held team of more than 600 consultants around the globe. Existing HSNO clients will now have access to J.S. Held’s suite of specialized services including construction consulting; property damage assessment; water and fire restoration consulting; surety services; project and program management; equipment consulting; forensic architecture and engineering; forensic accounting; and environmental, health, and safety services. “HSNO is excited to become part of the J.S. Held team and gain additional resources and expertise that will better serve our clients,” said Peter Hagen, Chief Executive Officer of HSNO. “We are respected for our accounting expertise, service, and integrity in many of the same industries and share the same values, which will be paramount to our joint success.” www.jsheld.com
|
May 29,
2019
Tortoise Acquires Advisory Research’s Complementary Midstream Energy Business
|
05.29.19
Tortoise Acquires Advisory Research’s Complementary Midstream Energy Business
LEAWOOD, Kan. – May 29, 2019 – Tortoise today announced it has reached a definitive agreement to acquire the midstream energy asset management business of Advisory Research Inc. from parent company Piper Jaffray Companies (NYSE: PJC). The Advisory Research midstream energy infrastructure team has approximately $3 billion in assets under management in both balanced and equity strategies, through mutual funds, sub-advised closed-end funds and separate accounts. The transaction brings together two highly experienced and tenured midstream energy pioneers with strong track records and complementary investment philosophies anchored in fundamental research. The Advisory Research midstream energy infrastructure team, including Senior Portfolio Managers Jim Cunnane, Jr. and Quinn Kiley, will join Tortoise. The existing team will maintain oversight of Advisory Research’s current midstream energy infrastructure business and client relationships. “We have a shared history with Jim and Quinn as early investors in midstream energy,” said Tortoise Chief Executive Officer, Kevin Birzer. “The Advisory Research team is well-known and highly regarded as forward-thinking midstream energy asset managers. We anticipate that our similar leadership styles and culture will ensure a seamless transition.” “We are thrilled to bring our combined experience and shared commitment to serving clients to the Tortoise organization,” said Advisory Research’s Senior Portfolio Manager, Jim Cunnane. “We see opportunities to continue to grow with the support of Tortoise’s deep and experienced distribution team.” The transaction is expected to close during the second half of 2019, subject to customary regulatory and closing conditions, including fund board/shareholder approval. Advisory Research currently manages separate accounts, mutual funds and also serves as sub-adviser to the Fiduciary/Claymore Energy Infrastructure Fund (NYSE: FMO), the Nuveen Energy MLP Total Return Fund (NYSE: JMF) and the Nuveen All Cap Energy MLP Opportunities Fund (NYSE: JMLP). Morgan Stanley & Co. LLC served as financial adviser to Tortoise. About Tortoise Tortoise invests in essential assets – those assets and services that are indispensable to the economy and society. With a steady wins approach and a long-term perspective, Tortoise strives to make a positive impact on clients and communities. For additional information, please visit tortoiseadvisors.com.
|
May 20,
2019
Lovell Minnick Partners Reaches Agreement for Sale of J.S. Held
|
05.20.19
Lovell Minnick Partners Reaches Agreement for Sale of J.S. Held
RADNOR, PA and JERICHO, NY – May 20, 2019 – Lovell Minnick Partners, a private equity firm specializing in financial and related business services companies, today announced the signing of a definitive agreement in which J.S. Held LLC, a global consulting firm focused on the construction industry and insurance claim management, will be acquired by private equity firm Kelso & Co. Financial terms of the private transaction were not disclosed. “It has been our pleasure to partner with Jon Held and his team over the past four years as the Company significantly expanded its practice areas, geographic coverage and consultant base,” said Robert Belke, a Managing Partner at Lovell Minnick Partners. “With a robust and growing platform, and a strong track record of acquisitions, J.S. Held is now the acquirer of choice in the industry and has done a remarkable job institutionalizing an integration process that is proven and repeatable,” added Jason Barg, a Partner at Lovell Minnick Partners. Founded in 1974, J.S. Held is the global leader in providing specialized consulting services to address complex and high value insurance claims and construction-related matters. J.S. Held’s growth has included 18 acquisitions and expansion to over 600 professionals in more than 60 offices across the U.S., Canada, Latin America, Europe, and the Middle East. “Our mission for the last 40 years has been to provide the best service to our clients and to support the continued professional growth of our people,” said Jon Held, Chief Executive Officer of J.S. Held. “We are committed to connecting our clients with subject matter experts so they can solve the strategic and tactical business challenges they face every day. Lovell Minnick has played an instrumental role in helping us think strategically about our growth opportunities, and we look forward to our partnership with Kelso which will allow us to continue to add resources to our team, expand solutions to new verticals, and continue our growth on a global scale.” “We are thrilled to partner with Jon and his team. J.S. Held’s leadership position in the insurance industry is a testament to the world-class expertise and unparalleled client service demonstrated by the consulting team,” said Chris Collins, Managing Director of Kelso. “We look forward to supporting the J.S. Held team as they accelerate their strategic plan to offer best-in-class solutions to an expanded client base spanning new vertical and global markets,” added Steve Dutton, Managing Director of Kelso. The transaction is expected to close in the third quarter of 2019 and is subject to customary closing conditions. William Blair & Company and Morgan, Lewis & Bockius LLP advised Lovell Minnick and J.S. Held in connection with the transaction. Debevoise & Plimpton LLP advised Kelso in connection with the transaction. About Lovell Minnick Partners Lovell Minnick Partners is a private equity firm focused on investments in the global financial services industry, including related technology and business services companies. Lovell Minnick provides developing companies with equity capital to support private company recapitalizations, execute majority buyouts, and pursue growth initiatives. Since its inception in 1999, Lovell Minnick Partners has raised over $3 billion in committed capital and has completed investments in over 50 platform companies. Targeted investment areas include asset management, financial product distribution, insurance, banks, specialty finance, and related technology and business services. Over its twenty-year history, Lovell Minnick has built a steady track record of investment returns through a consistent investment process that focuses on driving portfolio company growth, strategic activity, and operational improvement, without relying upon excessive financial leverage. About J.S. Held LLC J.S. Held is a global consulting firm with expertise in construction, environmental health & safety, water & fire restoration, equipment, and forensic architectural & engineering matters. Established in 1974, J.S. Held brings together years of unrivaled technical expertise and unparalleled service to deliver reliable, comprehensive solutions to its clients. J.S. Held is renowned for recruiting and cultivating distinguished experts and being a trusted partner on the world’s most complex environmental and construction matters. www.jsheld.comAbout Kelso & Company Kelso is one of the oldest and most established firms specializing in private equity investing. Since 1980, Kelso has invested approximately $14 billion of equity capital in over 125 transactions. Kelso was founded by the inventor of the Employee Stock Ownership Plan (“ESOP”) and, as a result, the principles of partnership and alignment of interest serve as the foundation of the firm’s investment philosophy. Kelso benefits from a successful investment track record, deep sector expertise, a long-tenured investing team, and a reputation as a preferred partner to management teams and corporates. Kelso has significant experience investing in financial services, having deployed over $2 billion of equity capital in the sector over the past decade. For more information, please visit www.kelso.com.
|
May 01,
2019
‘FORESIDE LETTER’ Offers Industry-Leading FINRA Guidance Expansion for Mutual Funds
|
05.01.19
‘FORESIDE LETTER’ Offers Industry-Leading FINRA Guidance Expansion for Mutual Funds
Mutual funds continue to face headwinds that require nimble reactions and flexibility – neither of which are easy feats given the ever-shifting regulatory landscape. Continued pressure on fees, industry consolidation, and increased demand for transparency from investors all present challenges but also opportunities to innovate. When partnered with the right regulatory consultant, mutual funds have the authority to forge new pathways and create value for investors that to date has been unheard of. Foreside is proud to have partnered with ABR Dynamic Funds to introduce a new level of transparency for institutional investors, called the Foreside Letter. This interpretive guidance, drafted with FINRA’s oversight, allows open-end mutual funds to disclose pre-inception index performance data, an allowance previously only made to passively managed ETFs. This guidance gives mutual funds a new and improved way to demonstrate value to potential investors, while meeting investors’ demands for increased transparency. This type of regulatory innovation is critical to compete in today’s crowded landscape, according to Dave Whitaker, president of Foreside. “We’re seeing a higher demand from institutional investors for more data, including for pre-investment performance data, so they can properly evaluate their investment decisions. The funds that bring in the right partners to navigate their clients’ and prospects’ changing demands will be the ones to win in the end.” The Foreside Letter applies to open-end mutual funds that are seeking to replicate pre-defined rules that cannot be altered except under extraordinary market, political or macroeconomic conditions, similar to passively managed ETFs. The guidance does not change FINRA’s long-standing position that the presentation of hypothetical back-tested performance in the retail material is prohibited. Collaboration was key to this industry-leading achievement. Foreside partnered with ABR Dynamic Funds, the law firm DLA Piper, and FINRA to complete the expansion of this guidance. No single party could have completed the task alone, and each brought value to the process. Key to this guidance, and to future innovation that navigates today’s regulatory landscape, is keeping the focus on the investor. “Oftentimes, institutional investors and compliance consultants can become too caught up in sticking to the old way, that they miss opportunities to add value for clients,” said Whitaker. “At Foreside, we never just say ‘no’ – we always seek opportunities to make things work.” www.Foreside.com
|
Apr 17,
2019
Global Financial Acquires Omni Holdings
|
04.17.19
Global Financial Acquires Omni Holdings
CHARLOTTE, N.C. and ATLANTA, Ga., April 17, 2019 /PRNewswire-PRWeb/ -- Global Financial, a leading national provider of financial solutions to healthcare providers and patients, announced today it has completed the acquisition of Omni Holdings. Financial terms of the private transaction were not disclosed. Founded in 2012, Omni Holdings is the leading medical lien funding company operating in the Southeastern U.S. Through its subsidiary companies, Omni helps finance essential medical treatment for individuals in need of physical therapy, surgery, chiropractic care, pain management, radiology, and other diagnostics and forms of treatment. Omni's funding solutions provide immediate working capital to healthcare providers administering such procedures, enabling patients to access care immediately, often in circumstances in which traditional funding sources, including health insurance, are insufficient or unavailable. Through affiliates, Omni also provides pre-settlement advances, which provide financing solutions to patients to help cover essential needs and other living expenses as they undergo care. "We are excited to welcome the Omni team to our organization," said Wensley McKenney, Founder and Chief Executive Officer of Global Financial. "Omni has built a strong reputation with medical providers and the legal community and has exhibited robust growth over its seven-year history. Its high-touch client service model is highly additive to our business, providing us with an exciting way to better serve our clients." "Global's experienced leadership team, scale, and access to capital enable us to further expand Omni's services to new medical providers and geographies," said Rich Rescigno, who will become President of the combined company. "We look forward to the opportunities this will create for our customers and employees." This acquisition builds upon a significant period of growth for Global Financial. In 2017, Lovell Minnick Partners, a private equity firm focused on financial services companies, acquired a majority stake in Global Financial. Since the Lovell Minnick investment, Global Financial has grown considerably and expanded its service, technology, and product offerings. About Global Financial Credit Global Financial Credit provides financing solutions to healthcare providers and individuals following personal injury events. Founded in 2002, Global is headquartered in Charlotte, NC. Through its subsidiary brands, the Company provides medical lien funding and pre-settlement advances to clients across the entire United States. The Company sources business through direct marketing and has an extensive business referral network that includes healthcare providers and law firms. About Omni Healthcare Injury Funding, LLC ("Omni") provides medical lien funding and pre-settlement advances. The business operates through its two branded subsidiaries, Omni Healthcare and Peak Funding Group, to deliver best in class medical funding and pre-settlement advance solutions to medical providers and injured plaintiffs involved in clear-liability litigation. Omni was founded in 2012 and has built a strong reputation with attorneys, medical providers and plaintiffs for delivering high-quality service.
|
Apr 15,
2019
J.S. Held Expands EH&S and Forensic Engineering Practices with Acquisition of Veritox, Inc. & GT Engineering, A Division of Veritox
|
04.15.19
J.S. Held Expands EH&S and Forensic Engineering Practices with Acquisition of Veritox, Inc. & GT Engineering, A Division of Veritox
JERICHO, N.Y. – April 15, 2019 – J.S. Held, a global consulting firm, announced today that it has acquired Veritox, Inc. and GT Engineering, a division of Veritox. Veritox (VTOX), a toxicology and industrial hygiene consulting firm with offices in Washington, Texas, South Carolina, and Florida, provides services in exposure assessment, industrial hygiene, human and environmental toxicology, forensic toxicology, and risk assessment. Headquartered in Washington state, GT Engineering (GTEN) provides technical consulting, forensic engineering, failure analysis, and fire investigation services. This acquisition amplifies J.S. Held’s portfolio of professional services in EHS and forensic engineering. The addition of these two firms provides a complimentary depth of consulting talent, with experts who have training and experience in occupational health, product registration, health risk assessment, and personal injury claims relating to exposure; as well as professionals in materials science and metallurgy, mechanical engineering, and chemistry. Both groups have more than 20 years of experience solving problems for individuals, private and public companies, schools, and governmental and non-governmental organizations. This includes expert courtroom testimony. “We are excited to add the experience and expertise of Veritox and GT Engineering to our already outstanding team of professionals and specialists,” said Tracey Dodd, Executive Vice President – Environmental, Health, & Safety of J.S. Held. “This expansion builds upon one of our foundational pillars of providing high-quality technical expertise through the addition of PhD toxicologists and industrial hygienists, material scientists, and engineers.” VTOX and GTEN will join the J.S. Held team of over 600 consultants around the globe. Their existing clients will now have access to J.S. Held’s suite of specialized services including construction consulting; property damage assessment; surety services; project and program management; equipment consulting; forensic architecture and engineering; forensic accounting; and environmental, health, and safety services. “Joining J.S. Held is a natural progression to provide the best service to our clients and support the continued professional growth of our people. J.S. Held’s commitment to client service, as well as training and development, fits with what our mission has been over the past 20 years,” said Bruce Kelman, PhD, DABT, ATS, ERT, President and Principal Toxicologist of Veritox. Founded in 1974, J.S. Held has provided specialized consulting to better address complex construction and environmental matters globally. Following its continued growth trajectory and commitment to unparalleled client service, Veritox, Inc. is its 18th acquisition since 2015. J.S. Held now has over 50 offices across the U.S. and Canada, Latin America, Europe, and the Middle East. About J.S. Held LLC J.S. Held is a global consulting firm with expertise in construction, environmental health & safety, forensic accounting, water & fire restoration, equipment, and forensic architecture & engineering matters. Established in 1974, J.S. Held brings together years of unrivaled technical expertise and unparalleled service to deliver reliable, comprehensive solutions to its clients. J.S. Held is renowned for recruiting and cultivating distinguished experts and being a trusted partner on the world’s most complex environmental and construction matters. www.jsheld.com
|
Apr 01,
2019
ATTOM Data Solutions Selected by HousingWire as 2019 Tech100 Winner
|
04.01.19
ATTOM Data Solutions Selected by HousingWire as 2019 Tech100 Winner
IRVINE, Calif. – April 1, 2019 — ATTOM Data Solutions, curator of the nation’s premier property database and first property data provider of Data-as-a-Service (DaaS), is pleased to announce it has been named once again by HousingWire as a Tech100 winner. The HW Tech100 awards program recognizes the most innovative technology companies in the U.S. housing economy, spanning the real estate and mortgage industries. ATTOM was selected to be included in the 2019 Tech100 awards program for its development of ATTOM DaaS. In the DaaS solution, the customer does not have to download and load data files, rather, the customer simply accesses the database directly in the cloud. DaaS also relieves the customer of the burden of managing the infrastructure required to host the data including security, disaster recovery and scalability. ATTOM DaaS manages the data and the platform on which members of the housing industry can build their real estate solutions, allowing the customer to focus on their business. HousingWire created the Tech100 in 2013 to recognize the increasingly important role of technology companies serving the mortgage space. The number of applicants for the 2019 awards increased from previous years and the final list of 100 companies demonstrates the depth and range of technology solutions that are available for those operating in the housing economy. “This year’s Tech100 list is stronger than ever! We leveraged a highly-qualified selection committee to review all nominations and guide the selection process. This extra layer of expertise and practical exposure to selected companies was influential in helping HousingWire recognize the 100 fintech companies that deserve the honor of being named the greatest players in the game,” said HousingWire Editor-in-Chief Jacob Gaffney. About ATTOM Data Solutions ATTOM Data Solutions provides premium property data to power products that improve transparency, innovation, efficiency and disruption in a data-driven economy. ATTOM multi-sources property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, and neighborhood data for more than 155 million U.S. residential and commercial properties covering 99 percent of the nation’s population. A rigorous data management process involving more than 20 steps validates, standardizes and enhances the data collected by ATTOM, assigning each property record with a persistent, unique ID — the ATTOM ID. The 9TB ATTOM Data Warehouse fuels innovation in many industries including mortgage, real estate, insurance, marketing, government and more through flexible data delivery solutions that include bulk file licenses, APIs, market trends, marketing lists, match & append and introducing the first property data deliver solution, a cloud-based data platform that streamlines data management – Data-as-a-Service (DaaS).
|
Mar 01,
2019
J.S. Held LLC Expands Into Forensic Accounting with the Acquisition of Magnan Graizzaro and Associates CPAs, LLC
|
03.01.19
J.S. Held LLC Expands Into Forensic Accounting with the Acquisition of Magnan Graizzaro and Associates CPAs, LLC
JERICHO, N.Y. – March 1, 2019 – J.S. Held, a global consulting firm, announced today that it has acquired Magnan Graizzaro and Associates (MG&A). Headquartered in New York, MG&A is a national accounting firm that provides insurance claims investigation, forensic accounting and investigation, litigation and dispute consulting, and expert testimony.
The acquisition enhances J.S. Held’s portfolio of professional services and strengthens the firm’s ability to support clients in claims disputes with the knowledge and experience of the MG&A accounting team, including Louis Magnan and Bruno Graizzaro, Managing Partners of MG&A.
“Since our inception, Magnan Graizzaro and Associates has led the industry in service excellence and the building of unmatched customer loyalty. Our experience and the service that we provide set us apart from other accountants,” said Magnan. “As a part of J.S. Held, we are able to bring additional benefits to clients on complex engagements.”
MG&A will join the J.S. Held team of over 600 consultants around the globe. Existing MG&A clients will now have access to J.S. Held’s suite of specialized services including construction consulting, property damage assessments, surety services, project and program management, forensic engineering, and environmental, health, and safety services.
“We have worked alongside the MG&A team for many years on numerous complex assignments. Their entire organization operates with the utmost professionalism, and it shows in their work. Their reputation for excellence is well deserved,” said Jon Held, Chief Executive Officer of J.S. Held. “MG&A brings extensive experience in claims assessment, and accounting related disputes, which aligns perfectly with the needs of J.S. Held and its clients. This is an exciting day for J.S. Held because this new business solution addresses a growing demand from many of our valued clients.”
Founded in 1974, J.S. Held has provided specialized consulting to better address complex construction and environmental matters globally. Following its continued growth trajectory and commitment to unparalleled client service, MG&A is its 16th acquisition since 2015. J.S. Held now has over 50 offices across the U.S. and Canada, Mexico, Europe, and the Middle East.
About J.S. Held LLC
J.S. Held is a global consulting firm with expertise in construction, environmental health & safety, water & fire restoration, equipment, and forensic architectural & engineering matters.
Established in 1974, J.S. Held brings together years of unrivaled technical expertise and unparalleled service to deliver reliable, comprehensive solutions to its clients. J.S. Held is renowned for recruiting and cultivating distinguished experts and being a trusted partner on the world’s most complex environmental and construction matters.
|
Feb 11,
2019
Lovell Minnick Partners Reaches Agreement for the Sale of Commercial Credit to BDT Capital Partners
|
02.11.19
Lovell Minnick Partners Reaches Agreement for the Sale of Commercial Credit to BDT Capital Partners
RADNOR, PA (February 11, 2019) – Lovell Minnick Partners, a private equity firm specializing in financial and related business services companies, today announced the signing of a definitive agreement in which Commercial Credit, Inc., an equipment and accounts receivable finance company and the parent company of Commercial Credit Group Inc. and Commercial Funding Inc., will be acquired by BDT Capital Partners, a merchant bank that provides family- and founder-led businesses with long-term, differentiated capital, who will be making a majority equity investment in the company. With this transaction, Commercial Credit, Inc., one of the largest independent commercial finance companies, will continue to expand its equipment and accounts receivable financing businesses. President and CEO Dan McDonough states, “We’re thrilled to partner with BDT. Their culture, way of doing business and long-term perspective mirror ours and their patient capital will support the growth of our company, the development of our people and our ability to deliver superior customer service in the years to come. We thank Lovell Minnick for their support over the past seven years and appreciate their dedication and loyalty to our business and employees.” John Cochran, Partner at Lovell Minnick, commented, “We are extraordinarily proud of Commercial Credit and its accomplishments, not just during our long and productive partnership together, but over a history that spans nearly 15 years. The Company’s steady growth and consistent execution demonstrate the resilience of their business model, the strength of their team, and their commitment to serving their clients.” Brad Armstrong, Partner at Lovell Minnick, added, “Commercial Credit exemplifies the type of successful independent specialty finance company we strive to find and build, one that is positioned to navigate an ever-evolving marketplace. This marks an important milestone, not just for Lovell Minnick and our limited partners, but for Commercial Credit, which is aligning itself with BDT, a premier organization with deep expertise and extensive resources available to perpetuate the company’s success.” “We are excited to partner with founder and CEO Dan McDonough and his highly-experienced management team,” said Dan Jester, President of BDT Capital Partners. “Commercial Credit’s specialized equipment finance expertise, focus on credit quality and superior customer service have contributed to its strong results. Our long-term capital, combined with Commercial Credit’s differentiated approach to commercial lending, will provide a solid foundation for the company to continue helping its customers navigate business cycles, acquire equipment and scale their own businesses.” The transaction is expected to close in the first quarter of 2019 and is subject to customary closing conditions. Keefe, Bruyette & Woods, Inc. and Ardea Partners LP advised the Company in connection with the transaction. About Commercial Credit, Inc. Commercial Credit, Inc., through its wholly owned subsidiaries Commercial Credit Group Inc. and Commercial Funding Inc., provides equipment loans and leases to small and mid-sized businesses in the construction, fleet transportation, machine tool and manufacturing, and waste industries, and accounts receivable factoring in a variety of industries. Since its inception in 2004, the Company has originated over $4 billion of finance receivables. The company’s sales force is located throughout North America, is headquartered in Charlotte, NC and operates full-service offices in Buffalo, NY, Naperville, IL, Hamilton, ON and Salt Lake City, UT. For more information, please visit www.commercialcreditgroup.com, and www.commercialfund.com. About BDT Capital Partners BDT Capital Partners provides family- and founder-led businesses with long-term, differentiated capital. The firm manages more than USD 9 billion across its investment funds and an additional USD 4.6 billion of co-investments from its global limited partner investor base. The firm’s affiliate, BDT & Company, is a merchant bank that works with family- and founder-led businesses to pursue their strategic and financial objectives. BDT & Company provides solutions-based advice and access to a world-class network of business owners and leaders. About Lovell Minnick Partners Lovell Minnick Partners LLC is a private equity firm focused on investing in middle market companies in the global financial services and related business services industries. Lovell Minnick provides developing companies with equity capital to support private company recapitalizations, execute majority buyouts, and pursue growth initiatives. Since its inception in 1999, Lovell Minnick Partners has raised over $3 billion in committed capital and has completed investments in over 50 platform companies. Targeted investment areas include asset management, financial product distribution, insurance, banks, specialty finance, and related technology and business services. Over its twenty-year history, Lovell Minnick has built a steady track record of investment returns through a consistent investment process that focuses on driving portfolio company growth, strategic activity, and operational improvement, without relying upon excessive financial leverage.
|
Jan 08,
2019
Lovell Minnick Partners Acquires ATTOM Data Solutions, Leading Provider of Real Estate Data and Analytics
|
01.08.19
Lovell Minnick Partners Acquires ATTOM Data Solutions, Leading Provider of Real Estate Data and Analytics
New Partnership Positions Market-Leading Property Data Expert for Sustained Growth PHILADELPHIA, LOS ANGELES and NEW YORK, January 8, 2019 – Lovell Minnick Partners, a private equity firm specializing in financial and related business services companies, today announced it has completed the acquisition of ATTOM Data Solutions (“ATTOM” or “the Company”), a leading provider of national real estate data and analytics. Lovell Minnick acquired ATTOM from Renovo Capital and Rosewood Private Investments. Financial terms of the private transaction were not disclosed. Headquartered in Irvine, California, ATTOM manages a comprehensive data platform that draws upon a wide range of sources to provide property tax, deed, mortgage, foreclosure, environmental risk, natural hazard and neighborhood data for more than 155 million U.S. residential and commercial properties covering 99 percent of the nation’s population. ATTOM licenses its data to companies in the real estate, mortgage, insurance, marketing and adjacent industries. “ATTOM’s data provides mission-critical insights to enterprise clients who seek to make well-informed business decisions with the benefit of historic, rich and near real-time data,” said Jason Barg, Partner, Lovell Minnick Partners. “We’re excited to partner with CEO Rob Barber and his team who have an excellent reputation for leadership and innovation in the real estate data and information services market.” “ATTOM remains focused on expanding our seamless end-to-end data platform to deliver greater value for our customers as we continue to grow our market share in our core markets and build out our footprint in new end-markets across the U.S.,” said Barber. “We look forward to the next chapter of our growth, supported by the experience and resources of Lovell Minnick Partners, as we further strengthen our position as the premier one-stop shop for high-quality real estate data.” Lovell Minnick Partners has strong experience investing in technology-enabled service providers in the financial services sector, such as Engage People Inc., an innovative, market-leading solutions provider for the global loyalty and incentive industry, and more recently, SRS Acquiom, a market-leading provider of technology-enabled solutions to facilitate private market M&A transactions. Lovell Minnick Partners also has deep industry knowledge and relationships in the property sector developed through proprietary research and through prior investments in the space such as J.S. Held, a specialty advisory firm that provides property loss consulting among other services, and CenterSquare Investment Management, a global investment manager focused on actively managed real estate and infrastructure strategies. “ATTOM’s management team has generated strong organic growth and successfully pursued accretive strategic opportunities such as their acquisition of neighborhood data provider Onboard Informatics in early 2018,” said John Cochran, Partner, Lovell Minnick Partners. “We believe the Company’s innovative technology platform, focus on superior data quality and customer service, and its recurring license revenue model position ATTOM extremely well for continued success in the space. We are eager to support management in executing their strategic plan to build the leading technology platform in the real estate data industry.” ATTOM’s extensive property database is also used to power consumer-facing websites such as RealtyTrac.com, Homefacts.com and HomeDisclosure.com. Morgan Lewis served as LMP’s legal counsel. GCA Advisors acted as financial advisor to ATTOM, while Venable LLP served as ATTOM’s legal counsel. Monroe Capital provided debt financing for the transaction. About Lovell Minnick Partners LLC Lovell Minnick Partners LLC is a private equity firm with expertise in investing in the financial and related business services sectors. With offices in Philadelphia, Los Angeles and New York, Lovell Minnick provides developing companies with equity capital to support private company recapitalizations, leveraged buyouts and pursue growth initiatives. Since its inception in 1999, Lovell Minnick Partners has raised $3 billion in committed capital and has completed investments in 50 companies. Targeted investment areas include asset management, wealth management, investment product distribution, specialty finance, insurance brokerage and services, financial and insurance technology and business services. For more information, please visit www.lmpartners.com. About ATTOM Data Solutions ATTOM Data Solutions provides premium property data to power products that improve transparency, innovation, efficiency and disruption in a data-driven economy. ATTOM multi-sources property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, and neighborhood data for more than 155 million U.S. residential and commercial properties covering 99 percent of the nation’s population. A rigorous data management process involving more than 20 steps validates, standardizes and enhances the data collected by ATTOM, assigning each property record with a persistent, unique ID — the ATTOM ID. The 9TB ATTOM Data Warehouse fuels innovation in many industries including mortgage, real estate, insurance, marketing, government and more through flexible data delivery solutions that include bulk file licenses, APIs, market trends, marketing lists, match & append and more. www.attomdata.com
|
Jan 03,
2019
Foreside Announces Acquisition of NCS Regulatory Compliance
|
01.03.19
Foreside Announces Acquisition of NCS Regulatory Compliance
PORTLAND, Maine – January 3, 2019 – Foreside Financial Group, LLC (“Foreside”), a provider of distribution and compliance services to clients in the global asset management industry, today announced the acquisition of NCS Regulatory Compliance (“NCS”), a comprehensive provider of outsourced compliance and regulatory solutions to the Registered Investment Adviser (“RIA”) and Broker-Dealer (“BD”) markets. The combination of Foreside and NCS provides a full-suite of best-in-class outsourcing solutions to companies across the financial services industry, as clients increasingly demand a one-stop shop for their business processes, including broker-dealer solutions, consulting services and adviser compliance. Further, the acquisition will expand Foreside’s scope through increased market share, proprietary technology, enhanced regulatory and SEC compliance services, senior-level leadership, and a larger geographic footprint, which includes offices in New York City. “We’re committed to providing our clients with a comprehensive and holistic set of solutions to streamline and increase revenue opportunities, as well as to quickly expand and launch new products, all in one place,” said David Whitaker, President of Foreside. “In addition to best meeting our clients’ needs in the midst of an ever-changing regulatory landscape, NCS’s leading technology-enabled financial services compliance solutions, paired with their deep industry expertise, both complements and drives forward our strategic plan to grow our market position and broaden our breadth of services globally.” “We are thrilled to be joining the Foreside team,” said Mark Alcaide, Partner and Chief Operating Officer at NCS. “Foreside’s experienced management team, comprehensive resources, and scale offers the unique opportunity to further expand NCS’s core solutions to new customer segments, investment products and geographies, and we look forward to the opportunities that this will create.” Added Rich Berthy, CEO of Foreside: “Adding NCS and their seasoned team of consultants to our market leading business solutions suite provides our clients an unparalleled level of support at a time when compliance and regulatory solutions are mission critical to the financial services industry.” Formed in 2015 following the merger of two well-established firms in the compliance market, Regulatory Compliance and National Compliance Services, NCS provides over 1,800 clients in the US with FINRA/SEC and state registrations, ongoing compliance support, annual reviews and mock audits, risk assessments, compliance manuals, FINOP services and financial accounting support and cybersecurity compliance, in addition to regulatory services. This acquisition builds upon a significant period of growth for Foreside. In 2017, Lovell Minnick Partners, a private-equity firm based in Radnor, Pennsylvania, purchased a majority stake in the company, and has since set forth a strategy to scale Foreside’s offering and expand the markets the firm services. Financial terms of the transaction were not disclosed. The acquisition is expected to close in early January 2019. About Foreside Foreside delivers a range of distribution and compliance services to clients in the global asset management industry. Foreside services open- and closed-end funds, exchange-traded products, commodity pools, private placements, investment advisers and registered broker-dealers. Foreside’s comprehensive technology suite includes Foreside AdCompliance™ a proprietary Internet-based portal to coordinate marketing material review with SEC and FINRA and ForesideXchange, a proprietary ETF order management system to facilitate the create/redeem process for ETFs. Foreside’s service offerings include distribution, registered representative licensing, fund chief compliance officer and treasurer services, and regulatory and compliance consulting. Foreside distributes over $1 trillion of product through their 19 limited purpose broker-dealers. The firm’s solutions enable clients to focus on asset management without sacrificing distribution and compliance best practices. Foreside is headquartered in Portland, Maine and has offices in Berwyn, Pennsylvania, Boston, Massachusetts, and Columbus, Ohio. For more information on Foreside’s suite of services, please visit www.foreside.com. About NCS Regulatory Compliance With more than 25 years of experience in the compliance consulting space, NCS Regulatory Compliance offers deep expertise and proven compliance knowledge for investment advisers and broker-dealers. NCS Regulatory Compliance’s experts remain on the cutting edge, leveraging decades of experience and the latest technologies to simplify and streamline the registration process and management of ongoing compliance requirements for clients. For more information on NCS Regulatory Compliance, visit www.ncsregcomp.com.
|
Nov 13,
2018
Lovell Minnick Partners Announces Majority Investment in SRS Acquiom
|
11.13.18
Lovell Minnick Partners Announces Majority Investment in SRS Acquiom
Positions SRS Acquiom for Continued Growth in M&A Settlement & Risk Management Services PHILADELPHIA, LOS ANGELES and NEW YORK, November 13, 2018 – Lovell Minnick Partners (“LMP”), a private equity firm specializing in financial and related business services companies, announced it has completed a majority investment in SRS Acquiom (the “Company”), a market-leading provider of technology-enabled services related to M&A settlement support and risk mitigation. Founded in 2007 by Paul Koenig, Mark Vogel and Jason Mendelson and headquartered in Denver, SRS Acquiom provides an integrated platform of professional services, technology solutions and data that enables corporate acquirers, private equity firms and venture capital firms to navigate the complex M&A deal execution process more efficiently. The Company has managed over 2,200 deals, representing 205,000 shareholders, valued at over $340 billion. “SRS Acquiom has a strong history of innovation and offers best-in-class solutions for managing and simplifying M&A processes throughout the transaction lifecycle,” said Steve Pierson, Managing Partner at LMP. “We look forward to supporting the Company in its continued growth, including the cultivation of next generation transaction support products, data analytics and new services.” SRS Acquiom offers an expansive range of services, including post-closing shareholder representation, payment agency, escrow administration, representation and warranty insurance brokerage, and pre-closing shareholder solicitation. The company also boasts an extensive database of private M&A data that provides insights to help dealmakers determine appropriate transaction terms. The Company has served some of the largest and most well-known venture capital firms, private equity firms and corporate acquirers across the world. “LMP’s strong network within financial services and experience investing in technology-enabled services businesses will expand and enhance our ability to offer market-leading M&A services to our clients across our increasingly global footprint,” said Paul Koenig, co-founder and CEO of SRS Acquiom. “We are experiencing strong demand for our platform of solutions from both new and existing clients, and we look forward to working with LMP to put the next phase of our strategic growth plans into action.” “The SRS Acquiom team has built out an impressive presence in the United States, and we fully support the Company’s plans to expand its product offerings and to grow internationally,” added Brad Armstrong, a Partner at LMP. “At Lovell Minnick, we have had a long and successful history of supporting portfolio companies in executing upon both organic and inorganic growth initiatives, and we believe the Company is well-positioned to grow through add-on acquisitions of complementary products and services.” SRS Acquiom’s management team will continue in their current roles and employees will continue to hold a significant investment in the Company alongside LMP. Prior investors, including Revolution Ventures and Top Tier Capital, will also participate in this transaction and will continue to support the company’s growth. “I’d like to thank our dedicated employees, our Board of Directors and all of our current shareholders for helping us to build SRS Acquiom into the market leader it is today,” said co-founder and Vice Chairman Mark Vogel. “Together, we have turned an entrepreneurial idea into a business serving blue-chip clients involved in some of the market’s most significant M&A transactions. We look forward to ongoing success and growth in partnership with LMP.” “SRS Acquiom started with a simple idea that M&A deals could be done better,” said co-founder Jason Mendelson. “The company has been passionate about that mission and has grown today into an amazing company that I am proud to have been a part of since the beginning.” Since its inception, SRS Acquiom has developed value-added, innovative products for M&A transactions, including the following: SRS Acquiom MarketStandard, a technology platform allowing deal makers to apply filters on over 150 deal attributes using the largest private target M&A deal database to help negotiate deal terms; SRS Acquiom Clearinghouse, the first and leading online M&A payments platform allowing shareholders to submit required electronic paperwork within minutes and to be paid on the same day; SRS Acquiom ComPort, a portal that provides shareholders with a summary of metrics such as transaction distributions, claims, expenses and disbursements; and, SRS Acquiom Deal Dashboard, which provides acquirers with online access for managing escrow balances, assessing shareholder payment status and reviewing summarized transaction terms for all prior transactions completed by the acquirer. Kirkland & Ellis LLP served as LMP’s legal counsel. Cowen and Company acted as exclusive financial advisor to SRS Acquiom, while Latham & Watkins LLP served as SRS Acquiom’s legal counsel. About SRS Acquiom SRS Acquiom, headquartered in Denver with offices in San Francisco, New York, Los Angeles, Chicago, Boston, London and Tel Aviv, is the global leader for managing closing and post-closing M&A activity, providing a comprehensive platform of services including shareholder representation, M&A payments and M&A risk management, including escrow administration and representation and warranty insurance brokerage. With more than 2,200 deals valued at over $340 billion, SRS Acquiom has made a business out of constant innovation with a singular purpose: helping deal parties and their advisors gain the freedom to do more. For more information, please visit www.srsacquiom.com.
|
|
