- Second Tech Investment Since Formalizing Focus on the Technology Vertical
- Firm to Draw on Deep Operational Experience to Accelerate Growth
Sun Capital Partners, Inc., a leading private investment firm focused on defensible businesses in growing markets, today announced that an affiliate has completed the acquisition of LoanLogics (or “the Company”), a digital mortgage solutions provider creating the premier investor network ecosystem for digital loan commerce. Terms of the private transaction were not disclosed.
Founded in 2005 and headquartered in Jacksonville, Florida, LoanLogics is a recognized industry leader with a mature brand that provides technology automation for mortgage document processing and data-driven audit software that improves efficiency, enhances transparency, streamlines commerce, and reduces risk while providing quality assurance and loan portability for lenders, investors, insurers, and servicers. The Company’s platforms leverage the latest methodologies in cloud computing and machine learning technology to deliver greater value for more than 10,000 users at more than 120 institutions across all 50 states.
“Sun Capital is thrilled that LoanLogics is our second technology platform investment after formalizing our technology vertical,” said Marc Leder, Co-Chief Executive Officer of Sun Capital. “Inefficiencies in data and workflow are driving rising mortgage market costs, and LoanLogics helps solve this industry challenge. We look forward to applying our operating experience to accelerate LoanLogics’ growth.”
“We are eager to begin work with Sun Capital, who we firmly believe brings the level of experience necessary to help us leverage our technology leadership, excel operationally and optimize growth,” said Bill Neville, Chief Executive Officer of LoanLogics. “The support and resources Sun Capital is capable of providing to companies like ours will enable LoanLogics to continue to ensure quality performance for our clients, enhance our operations and best serve the rapidly modernizing mortgage technology market.”
LoanLogics’ demonstrated adaptability in leveraging its technology to create, validate and perfect digital mortgage assets and automate various processes across the mortgage workflow makes it ideally positioned to continue to grow substantially in the fragmented mortgage technology market that has an estimated value of more than $10 billion.
“LoanLogics provides the solutions that the market needs for the digital mortgage transformation that is well underway,” added Elizabeth de Saint-Aignan, Managing Director, who leads the technology vertical at Sun Capital. “We see significant opportunity to help LoanLogics capture greater share of the growing market opportunity by continuing to innovate for its customers.”