LoanLogics, a digital mortgage solutions provider creating an investor network ecosystem for digital loan commerce, reported that an affiliate of Sun Capital Partners, Inc. (“Sun Capital”), a private investment firm focused on defensible businesses in growing markets, has completed an acquisition of the company. Terms of the private transaction were not disclosed.
Sun Capital partners with outstanding management teams and is recognized for its operational experience. Since 1995, the firm has invested in more than 425 companies worldwide with revenues in excess of $50 billion across a broad range of industries.
“We are eager to begin our collaboration with Sun Capital, who we firmly believe brings the level of experience necessary to help us leverage our technology leadership, excel operationally and optimize growth,” said Bill Neville, CEO of LoanLogics. “The support and resources Sun Capital is capable of providing to companies like ours will enable us to continue to ensure quality performance for our clients, enhance our operations and serve the rapidly modernizing mortgage technology market.”
“We are very excited to announce LoanLogics as our second technology platform investment since formalizing our technology vertical,” said Marc Leder, Co-CEO Sun Capital. “Inefficiencies in data and workflow are driving rising mortgage market costs, and LoanLogics helps solve this industry challenge. We look forward to applying our operating experience to accelerate their growth.”
LoanLogics’ demonstrated ability to leverage its technology to create, validate and perfect digital mortgage assets and automate processes across the mortgage workflow makes it ideally positioned to grow substantially in the fragmented mortgage technology market, which has an estimated value of more than $10 billion. Our technology automation for mortgage document processing and data-driven mortgage audit software improves efficiency, enhances transparency, streamlines commerce, and reduces risk while providing quality assurance and loan portability for lenders, investors, insurers, and servicers.
“LoanLogics provides the solutions that the market needs for the digital mortgage transformation that is well underway,” added Elizabeth de Saint-Aignan, managing director, who leads the technology vertical at Sun Capital. “We see significant opportunity to help LoanLogics capture a greater share of the growing market opportunity by continuing to innovate for its customers.”
“LoanLogics will benefit greatly from the expertise and investment capability that Sun Capital brings. Our financial strength and rapid pace of growth will continue to improve through our new relationship with Sun Capital,” added Patrick Armstrong, chief financial officer of LoanLogics.
Financial Technology Partners (“FT Partners”) served as sole strategic and financial advisor to LoanLogics and its Board of Directors.
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