L2 Capital sold reQuire Holdings, a diversified real estate services platform, to LenderLive Services. Pepper Hamilton served as legal counsel and Raymond James served as financial advisors to L2. Terms of the deal were not disclosed.
L2 Capital is pleased to announce the sale of reQuire Holdings, LLC to LenderLive Services, LLC on April 11, 2018. This transaction represents the successful realization of L2’s 2014 investment in reQuire Holdings, a diversified real estate services platform.
Under L2’s ownership, reQuire underwent a complete corporate reorganization along with executing multiple add-on acquisitions and developing a new technology platform. All these investments allowed the Company to stabilize its core business, increase the breadth of its service offerings as well as to position the business to achieve double digit annual growth rates.
L2 Partner Matt Klein commented, “It was a pleasure to work with reQuire’s management to realize our shared vision. Over the course of our investment, L2 worked with management to craft the reorganization strategy, build the team and complete several acquisitions. Once we built the team, we ensured they had the resources and investment required to execute strategy and we are proud of what we have accomplished together. We always knew reQuire’s people provided best in class service, the challenge was improving the tools and adding the right offerings to unlock the potential. The reQuire team has done that and we wish the team and their new owners all the best.”
Al Will, CEO of reQuire added, “I want to thank the L2 team for its support of the business the past four years. L2’s contribution to reQuire’s success has been truly special, and we would not have achieved our goals without them. Looking forward, the team is excited for the next chapter and continued growth prospects that come from being part of LenderLive.”
Raymond James served as financial advisors and Pepper Hamilton served as legal counsel to L2.
reQuire Holdings (www.gorequire.com) companies includes reQuire Real Estate Solutions, Services 1st, CRES and Covius. This client-focused, quality-driven family of companies provides innovative settlement and curative solutions, residential and commercial mortgage loan underwriting and due diligence, BPM technology solutions for the financial services industry.
L2 Capital (www.l2capital.net) is a private equity family office focused on providing a more flexible alternative to entrepreneurs and other business leaders seeking to grow their companies over an extended time period. L2 invests in leveraged buyouts and recapitalizations of lower middle market businesses across multiple industries. Based in suburban Philadelphia, L2 was founded in 2011 and is currently investing in new platforms from its existing pool of capital.