Renovo Capital invested in Dimont & Associates, Inc., which provides specialty insurance and loan administration to residential and commercial financial services industry. Renovo made the investment alongside mortgage services industry executive Denis Brosnan.
March 16, 2016 (Dallas, Texas) – Renovo Capital, LLC, a Dallas-based special situations private equity firm, is pleased to announce an investment in Dimont & Associates, Inc. in partnership with mortgage services industry executive Denis Brosnan. The investment furthers Renovo’s focus in the technology-enabled business services sector, with a particular emphasis on serving the evolving residential real estate industry.
Special situations investor seeking businesses with varying degrees of financial and operational complexities
Currently investing out Fund II with $132M of institutional investor commitments
Industry agnostic with focuses on energy services, food and technology-enabled business services
Seeking equity investments of $5-30M in lower middle market companies with revenues of $20 – 200M
Seven investment professionals with growing operating partner network
Dallas-based Dimont is the leading provider of specialty insurance and loan administration solutions to the residential and commercial financial services industries.
In partnership with a veteran management team, Renovo Capital’s investment enables Dimont to continue to grow and innovate, while benefitting from Renovo’s sector expertise. Renovo Capital also owns RealtyTrac and Homefacts.
“Dimont is a strong, longstanding business in a dynamic and growing sector and we are excited to partner with Denis Brosnan and the management team to support the company’s continued efforts toward product innovation and service expansions,” said David Hull, managing partner at Renovo Capital.
In connection with this transaction, Brosnan agreed to a new five-year contract to continue his role as president and chief executive officer of Dimont.
“I am excited by the opportunity and humbled by the confidence entrusted in me and my team by our investors to lead the company into this new era,” said Brosnan.
Dimont & Associates, Inc. (www.dimont.com) founded in 1996 and based in Dallas, Texas, is the largest provider of specialty insurance and loan administration services to the residential and commercial financial industries in the United States.
Renovo Capital, LLC (www.renovocapital.com) is a special situations private equity fund, investing out of Renovo Capital Fund II, LP, a $132 million committed capital fund. Renovo is focused on partnering with business owners, entrepreneurs and management teams to invest in businesses undergoing varying degrees of operational, financial or market-drive change. Renovo’s principals and extensive network of operating professionals have decades of experience delivering unique capital solutions and operational and strategic leadership to help solve complex situations and drive long term business value creation. Renovo Capital has offices in Dallas and Denver.