Accurate Group Holdings Inc. has sealed a $55 million equity investment led by ABS Capital Partners. Edgeview Partners served as financial advisor to Accurate and its majority shareholder, Evolution Capital Partners. Accurate provides technology and data-enabled services to mortgage lenders.
Edgeview Partners is pleased to announce that Accurate Group Holdings, Inc. (Accurate) has received a $55 million equity investment led by ABS Capital Partners (ABS), a leading investor in later-stage growth companies. Edgeview Partners served as exclusive financial advisor to Accurate and its majority shareholder, Evolution Capital Partners. Edgeview’s transaction team included John Tye, Derek Beres, Grant Hamilton, Thomas Ragsdale and Aaron Wasserman. Details of the transaction, which closed on December 11, 2012, were not disclosed.
Accurate provides technology and data-enabled services to mortgage lenders, including a comprehensive offering of valuation, title and closing products. These services support all phases of the residential lending and loan servicing cycle and are tailored to their clients’ new purchase mortgages, refinancings, home equity loans and default services. Accurate has enjoyed rapid growth despite a weak housing market as lenders have increasingly outsourced lending and loan servicing components, particularly to domestic service providers, in response to heightened regulatory and compliance pressures.
“The Edgeview team did a great job throughout the entire process – from positioning the company to clearly demonstrate its true value, to generating significant interest in the marketplace, and ultimately delivering a fantastic outcome to Evolution and our investors. This was our first transaction with Edgeview, and we look forward to the next opportunity to work with them,” said Jeff Kadlic, Co-founder and Managing Partner of Evolution Capital Partners.
Paul Doman, CEO of Accurate, said “We are extremely appreciative of the work Edgeview did for us. The team guided us through every step of the process, significantly reduced the burden on our team, and helped us find a great partner to continue Accurate’s terrific growth.”
Derek Beres of Edgeview Partners added, “Since joining the company in 2009, Paul has assembled a fantastic management team at Accurate. Over the past several years, Accurate has continued to add services and add personnel to address the ever changing needs of its customers. Together with Evolution Capital, Accurate has achieved impressive growth over the past several years and positioned the company for much continued growth following this latest investment by ABS.”
About Evolution Capital Partners
Evolution Capital Partners is a small business private equity fund investing growth equity nationwide in Second Stage Companies generating annual free cash flow of $500,000 to $2,000,000. Evolution specializes in helping entrepreneurial businesses successfully navigate the critical transition through No Man’s Land by providing the capital, management,
￼infrastructure and other resources necessary to leverage the time and energy of the business owner. For more information, please visit www.evolutioncp.com
About ABS Capital Partners
ABS Capital Partners is a Baltimore-based private equity firm investing in later-stage growth companies. ABS Capital specializes in four growth sectors—business and education services, health care, media and communications, and technology—and has invested in over 100 growth companies over the past two decades. With over $2 billion raised since inception, including $500 million in its latest fund, ABS Capital continues to build on its strong reputation for teaming with CEOs and market leaders to tackle the challenges of rapid expansion, create significant long-term value and deliver strong returns to investors. For more information, please visit www.abscapital.com.
About Edgeview Partners
Edgeview Partners (www.edgeview.com) is a leading independent investment bank focused exclusively on the middle market. Edgeview has closed M&A transactions in more than 15 industry sectors, including aerospace and defense, applied technology, building products, business services, consumer products, diversified industrials, energy services, healthcare, and transportation and logistics.
All securities products and services are offered through Edgeview Capital Securities, LLC, a registered broker-dealer and FINRA/SIPC member firm and an affiliate of Edgeview Partners.