nesto Acquires CMLS Group
June 21, 2024
Montreal-based digital lender nesto has acquired CMLS Group, one of Canada’s largest mortgage finance companies, creating the country’s largest technology-enabled mortgage lender. The combined business will operate across residential and commercial mortgage markets with more than 1,000 employees, roughly $60 billion in mortgages under administration, and transaction support from a group of institutional and strategic investors including Diagram Ventures, Portage, NAventures, IGM Financial, BMO Capital Partners, Fonds de solidarité FTQ and Fondaction.
- Buyers
- nesto, Diagram Ventures, Portage, NAventures (National Bank of Canada), IGM Financial, BMO Capital Partners, Fonds de solidarité FTQ, Fondaction
- Targets
- CMLS Group
- Sellers
- CMLS Group shareholders
- Industry
- Financial Services
- Location
- British Columbia, Canada
- Transaction Type
- Buyout
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