Lovell Minnick Partners announces investment in UniversalCIS
PHILADELPHIA & LOS ANGELES & NEW YORK – (COMMERCIAL THREAD) –Lovell Minnick Partners, LLC, a private equity firm specializing in investments in financial services, fintech and related business services, today announced that it has acquired a controlling interest in UniversalCIS (the “Company”), a leading provider of credit data and related technology-based origination solutions to the mortgage industry. Going forward, Lovell Minnick and the UniversalCIS leadership team will work closely together to leverage this investment to fuel the continued growth of the company and provide additional capital for future acquisitions. Financial terms of the transaction were not disclosed.
Based outside of Philadelphia with four additional operations centers across the country, UniversalCIS provides a leading technology platform that delivers credit data and origination solutions to over 4,000 customers in the market. North American mortgage companies, including banks, non-bank mortgage lenders, credit unions and mortgage brokers. . The platform is integrated with approximately 60 loan origination systems and serves as the first point of interaction for clients in the loan application process.
“We are delighted to partner with the UniversalCIS leadership team to further develop and develop its unique offerings,” said Jason Barg, partner at Lovell Minnick. “The UniversalCIS team has built an incredible business that plays a vital role in the mortgage origination process and provides top-notch technology and customer service in a transparent and centralized manner. We believe the company has tremendous growth potential and is well positioned to benefit from the favorable winds that are driving technology adoption and M&A activity in the mortgage market. ”
The company was renamed UniversalCIS in January 2021 following the 2020 combination of Universal Credit Services, CIS Credit Solutions and Avantus, three long-time providers of credit technology and solutions for the mortgage industry. . UniversalCIS also acquired mortgage valuation technology provider SharperLending to enhance the company’s software offerings. SharperLending operates as an independent business unit as a wholly owned subsidiary of UniversalCIS.
“Lovell Minnick has a solid track record of supporting FinTech companies in the mortgage and lending industry as they grow their businesses, making him an ideal partner for us,” said Perry Steiner, President of UniversalCIS. “We are delighted to embark on the next chapter of UniversalCIS’s success by working with Lovell Minnick to continue to expand and improve our technology offerings for new customers and markets. ”
Jerry Haftmann, CEO of UniversalCIS, added: “The UniversalCIS team has always been focused on creating unique and effective technology for the mortgage industry, and this partnership with Lovell Minnick underscores our commitment to continue to develop the best services for key stakeholders to greater breadth and depth than ever before.
Former Speaker of the House Paul Ryan and former Secretary of the Navy John Dalton will continue to serve UniversalCIS, joining the company’s board of directors. Steve Ozonian, Lovell Minnick advisor and industry veteran, will also join the board.
GCA Advisors served as the exclusive financial advisor to UniversalCIS. Morgan, Lewis & Bockius served as legal advisers to Lovell Minnick, while McDonald Hopkins served as legal advisers to UniversalCIS.
About Lovell Minnick Partners
Lovell Minnick Partners is a private equity firm specializing in investments in financial services, financial technology and related business services. The firm partners with exceptional leadership teams to help grow their businesses and create value for investors through a combination of growth initiatives, strategic activities and operational improvements. Since Lovell Minnick’s inception in 1999, she has become a leader in her chosen field, raising $ 3.5 billion in committed capital from leading institutional investors, including public and private pension plans, corporations insurance, endowments and foundations. To date, Lovell Minnick has made over 50 investments in holding companies.
Lovell Minnick seeks to invest in management-oriented, growth-oriented companies that span the supply chains of investment products, insurance products, credit products and payments. Some of the areas in which the company specializes include financial technology and insurance; Payments; specialized finance; insurance brokerage and services; asset and wealth management; and related business services.
UniversalCIS is a market leader in mortgage technology, credit reporting and related products and solutions for mortgage originators. UniversalCIS has more than 4,000 customers, ranging from the largest bank and non-bank prime contractors to credit unions and mortgage brokers. UniversalCIS prides itself on the best technologies, solutions and services in the industry. UniversalCIS was created by the merger of Universal Credit Services, CIS Credit Solutions and Avantus. For more information, please visit: UniversalCIS.com