Prommis Solutions, an Atlanta-based provider of outsourced foreclosure and bankruptcy processing services to U.S. law firms, has filed for a $150 million IPO. Credit Suisse and Deutsche Bank Securities are serving as co-lead underwriters.
The company reports nearly $255 million in 2009 revenue, compared to $192 million in 2008 and $128 million in 2007. Its 2009 net income was $7.8 million, compared to net losses the prior two years.
Great Hill Partners holds a 66.7% ownership position, based on an investment in February 2006. www.prommis.com