Financial Services Acquisitions in United States

ACA Group (ACA), a governance, risk, and compliance advisor in financial services, has acquired Global Trading Analytics (GTA), a provider of transaction cost analysis (TCA) and best execution solutions. GTA will enhance ACA’s regulatory technology capabilities and expand ACA’s offering of analytics-driven compliance and trading execution insights for financial services clients.

Gesa Credit Union entered into a definitive agreement to acquire and assume substantially all assets and liabilities of Security State Bank, a subsidiary of Security State Corporation. The deal is subject to regulatory and Security State Corporation shareholder approvals and is expected to close in 2025, after which Security State Corporation and Security State Bank will dissolve and remaining assets will be distributed to shareholders.

CBC Bancorp, parent of Commercial Bank of California, entered into a definitive agreement to acquire Bay Community Bancorp, parent of Community Bank of the Bay, in an all-cash transaction valued at $14.00 per common share. The combination will create a larger California-focused community business bank with approximately $3.5 billion in combined assets, with Community Bank of the Bay expected to operate long term as a division of Commercial Bank of California. The transaction is expected to close in late 2024 or early 2025 subject to regulatory and shareholder approvals.

Conning Holdings Limited announced the closing of its acquisition by Generali Investments Holding S.p.A., the entity that comprises the majority of the Generali Group’s asset management activities. Following the transaction, Conning and its affiliates will continue to operate under their current leadership and brands, with Generali providing strategic support to accelerate growth. Cathay Life Insurance will remain a continuing owner through receiving a 16.75% stake in Generali Investments Holding and will maintain a long-term commitment for certain assets managed by GIH, including via Conning.

New York Community Bancorp, Inc. announced a $1 billion equity investment led by Liberty Strategic, alongside Hudson Bay and Reverence. The financing includes $450 million from Liberty Strategic, $250 million from Hudson Bay, and $200 million from Reverence, and will add new board representation including Liberty Strategic’s Steven Mnuchin. Joseph Otting will become the new CEO and join the board as part of the transaction.

PCS Retirement announced it received a majority investment from funds managed by Lee Equity Partners. As part of the transaction, LLR Partners will exit its investment in PCS, and Scott David was named CEO. Transaction terms were not disclosed.

Spring EQ, a national home equity lender, has completed its acquisition by an affiliate of Cerberus Capital Management, L.P. Following the transaction, Spring EQ will join Cerberus' Residential Opportunities platform and continue to be led by founder and CEO Jerry Schiano and the existing management team.

Marex announced the completion of its acquisition of Cowen's prime brokerage and outsourced trading business, expanding Marex’s global capabilities and client base. The acquired business, including a team of around 160 employees across eight offices and related clearing counterparties and trading/reporting technologies, will sit within Marex Capital Markets and continue to be led by Jack Seibald and Mike Rosen.

Prime Pensions, LLC, a portfolio company of Mill Point Capital LLC, has completed the acquisition of Pension Benefits Unlimited, Inc. (PBU). PBU is a California-based provider of retirement plan design, administration, and consulting/compliance services for small and medium-sized businesses, and will join Prime Pensions’ retirement services platform.

Janney Montgomery Scott LLC has agreed to acquire TM Capital, a middle-market investment bank specializing in M&A advisory across business services, industrials, healthcare, and consumer sectors. The deal is expected to close by year-end subject to regulatory approval, and TM Capital will continue operating under its brand with its team remaining in place.

Incline Equity Partners announced the sale of ARMStrong Receivable Management, a provider of commercial accounts receivable management and related insurance services. Incline had partnered with ARMStrong since June 2019; the buyer was not disclosed in the announcement.

Bonaccord Capital Partners made a passive minority investment in Revelstoke Capital Partners, a healthcare-focused private equity firm based in Denver, Colorado. The investment provides Revelstoke with long-term capital to support strategic investments and growth initiatives, with no changes to the firm’s investment process or day-to-day operations.

DPL Financial Partners announced it is acquiring AnnuityFix and its affiliated broker-dealer, Johnstone Brokerage Services, to enhance DPL’s Breakaway Accelerator program for advisors transitioning annuity assets to a fee-based model. AnnuityFix founder Grant Johnstone will join DPL as chief compliance officer and chief legal officer, and AnnuityFix employees will join DPL. The transaction is expected to close pending regulatory approval.

Cogency Global Inc. acquired Tax Guard, LLC from Falfurrias Capital Partners to expand its compliance and tax risk due diligence and monitoring capabilities. The deal strengthens Cogency Global’s presence in financial services and broadens its end-to-end governance, compliance, and tax risk management offering; terms were not disclosed.

GTCR has acquired Foundation Source, a technology-enabled provider of private foundation management services. As part of the deal, GTCR is partnering with wealth technology executive Joseph Mrak III, who joins as CEO, and GTCR committed significant capital to support acquisitions, technology enhancements, and organic growth initiatives.

R&T Deposit Solutions received a significant strategic investment from private equity firm GTCR, which will result in GTCR owning 50% of the company. The remaining 50% will be retained by existing shareholders including Estancia Capital Partners and R&T’s founding team and employees, and Susan Cosgrove will join as Executive Chairperson to support continued growth and product/technology expansion.

Balance Point Capital Advisors, together with its affiliated fund Balance Point Capital Partners V, L.P., made a follow-on investment in Concord Servicing Corporation, a portfolio company of Inverness Graham Investments. The financing supported Concord’s acquisition of Equiant, expanding Concord’s loan servicing and software capabilities in the vacation ownership market.

The Vistria Group, LP entered into a strategic partnership with U.S. Retirement & Benefits Partners (USRBP), a national financial services firm focused on employee benefits and employer-sponsored retirement plans. As part of the arrangement, Kohlberg & Company, LLC will remain a minority investor in USRBP and will partner with The Vistria Group to accelerate USRBP’s growth and continued M&A momentum.

Capital Constellation, an investment platform managed by Wafra Inc., announced a strategic minority investment in Greenbelt Capital Partners. Greenbelt is an Austin, Texas-based middle-market private equity firm focused on opportunities tied to the energy transition and the “New Energy Economy.”

Planet Home Lending, a Connecticut-based lender and servicer owned by Planet Financial Group, acquired the assets of Illinois-based retail lender Platinum Home Mortgage Corporation for undisclosed terms. As part of the transaction, Planet will take on the majority of Platinum’s origination staff and branches, expanding its retail footprint particularly in the Midwest, Northwest, and West Coast. Platinum’s president and CEO Lee Gross will join Planet as a senior vice president and continue leading the Platinum team.

South Watch, LLC, a provider of outsourced fund administration and middle-office services, announced a strategic investment by Everlane Equity Partners. The partnership is intended to support South Watch’s continued growth and expansion of services, with the company continuing to be led by its existing management team.

Blue Sage Capital completed an investment in NexGen Financial in partnership with Four Point Capital Advisors. The investment will provide primary growth capital on NexGen’s balance sheet to help accelerate growth of its flexible capital solutions for debt settlement companies.

BWG Strategy completed the acquisition of OTR Global to expand its suite of primary and channel research services for institutional investors. The combined company aims to provide compliant, timely, in-depth market insights and a broader set of research products from a single provider.

QUODD, a market data-on-demand provider and a NewSpring Holdings platform company, has acquired Xignite, a provider of financial market data APIs. The deal adds more than 500 market data APIs and expands QUODD’s cloud-native offerings, including QUODD Fuel and its Universe+ platform, to better serve financial services clients. Financial terms were not disclosed.

Comvest Credit Partners provided a $30 million senior secured credit facility to The JG Wentworth Company, LLC, acting as administrative agent. The financing will be used to fund a strategic acquisition by JG Wentworth and to support additional capital needs for ongoing growth initiatives.

Blue Ridge ESOP Associates acquired the ESOP services and certain tax-related 401(k) plan services business of Crowe LLP. Following the transaction, substantially all assets and Crowe professionals associated with the business will transition to Blue Ridge. Financial terms were not disclosed.

Funds managed by Wafra acquired a strategic minority ownership interest in Thompson Street Capital Partners. The investment is intended to support Thompson Street’s continued growth and scaling of its platform, while leaving control of investment processes, management, and day-to-day operations unchanged. Financial terms were not disclosed.

First Eagle Investments completed its previously announced acquisition of alternative credit manager Napier Park Global Capital. The deal expands First Eagle’s alternative credit capabilities and increases its pro forma assets under management, with Napier Park continuing to operate as an autonomous, wholly owned unit under the First Eagle platform.

Simplicity Group announced the acquisition of Chesapeake Brokerage, a Delaware-based brokerage firm distributing life insurance, long-term care (LTC), and annuity products to independent agents and advisors. Chesapeake founders Jeff Levy and Marge Levy will continue managing day-to-day operations as partners while transitioning to the Simplicity brand.

Aduro Advisors, LLC acquired VMS Fund Administration, a Princeton, New Jersey-based venture capital and private equity fund administrator. Effective July 1, 2022, the transaction expands Aduro’s East Coast presence and adds VMS leadership to Aduro as partners. The acquisition was financed by existing Aduro investor PPC Enterprises.

Pittco Direct Investments II, LP, the direct investing arm of Pittco Management, LLC, acquired a minority equity interest in MediaMark Factoring. MediaMark is a Tennessee-based specialty finance company providing receivables liquidity to the out-of-home media industry and construction development firms.

Prime Pensions LLC, a portfolio company of Mill Point Capital LLC, acquired Northwest Retirement Plan Consultants, LLC (NWRPC), a Washington-based provider of retirement plan design, administration, and consulting services. The deal expands Prime Pensions’ retirement plan compliance and administration capabilities and extends its geographic presence in the Northwestern United States.

Credibly acquired ProApprove, a specialty finance company providing home improvement financing solutions. In conjunction with the acquisition, Credibly entered into a forward flow agreement with Castlelake for the purchase of up to $350 million of home improvement installment contract receivables originated by ProApprove, which will continue to service the receivables sold to Castlelake.

AXCS Capital announced and completed the acquisition of George Smith Partners, a national capital markets advisory firm focused on commercial real estate financing. The deal closed on June 10, 2022 for an undisclosed amount and is intended to advance AXCS Capital’s vision of digitizing capital advisory services in CRE capital markets.

Vecta Partners LLC, a New York-based private equity group, completed its acquisition of Sunnyside Bancorp, Inc., effective June 1, 2022. The transaction includes Sunnyside Bancorp’s wholly owned subsidiary, Sunnyside Federal Savings and Loan Association of Irvington, and installs a new board and management team to execute a growth and service-enhancement plan.

Millennium Trust Company, LLC completed its previously announced acquisition of PayFlex Holdings, Inc. from CVS Health. The deal expands Millennium Trust’s retirement and custody offerings into Health Savings Accounts and other consumer-directed benefits, and includes a long-term commercial agreement under which PayFlex will remain Aetna’s preferred partner for certain HSA/FSA and related services.

StoicLane announced it has completed the acquisition of Triserv Appraisal Management Solutions, an appraisal management company serving banks, credit unions, and mortgage bankers across all 50 U.S. states. StoicLane plans to provide capital, operational expertise, and technological infrastructure to accelerate Triserv’s growth as it continues to deliver tech-enabled appraisal and evaluation solutions for mortgage lenders.

TimePayment has acquired Wheaten Financial, an equipment finance company focused on commercial vehicles and titled equipment, and the deal has closed. Wheaten will operate as a wholly owned subsidiary of TimePayment, with founder Aimee McChurch continuing to lead the business from its Irvine, California headquarters. The acquisition marks TimePayment’s entry into the titled vehicle vertical and supports its strategy to expand specialty vehicle and titled equipment financing.

Fourshore Partners, a Miami-based private equity firm, announced its acquisition of Celtic Capital Corporation. Celtic Capital is a financial services company specializing in asset-based lending to middle-market companies across the United States.

CNO Financial Group, Inc. acquired a strategic minority interest in Rialto Capital and also agreed to invest in multiple Rialto-managed investment vehicles. Rialto is a commercial real estate-focused investment and asset management platform, and the partnership is intended to расширить CNO’s investment capabilities and exposure to commercial real estate. Existing owners including funds managed by Stone Point Capital and Rialto’s management team will remain continuing owners; financial terms were not disclosed.

Boathouse Capital completed a growth investment in PolySign, a provider of digital asset custody, trading, and fund administration services. PolySign used the new capital to acquire MG Stover, a digital asset fund administrator, to expand its vertically integrated offering for institutional investors.

Foreside Financial Group, LLC acquired Cipperman Compliance Services (CCS), expanding Foreside’s outsourced chief compliance officer (CCO) and broader governance, risk management, and compliance (GRC) capabilities for the asset and wealth management industry. CCS, founded in 2004 and headquartered in Wayne, Pennsylvania, will add approximately 25 employees and more than 100 clients while maintaining its Pennsylvania presence. Financial terms were not disclosed.

Action Title Research announced the acquisition of Eastland Title Services, a New England provider of residential and commercial title search and related public-record services. The deal expands Action Title Research’s reach into Connecticut, Rhode Island, Massachusetts, New Hampshire, and Maine and brings its proprietary workflow automation software to Eastland’s customer base. This is Action Title Research’s first acquisition since Strattam Capital’s investment in late 2021.

Huntington Bancshares Incorporated entered into a definitive agreement to acquire Capstone Partners, an independent middle-market investment banking and financial advisory firm. The deal is intended to expand Huntington’s capital markets and advisory capabilities for middle-market commercial banking customers and is expected to close in the second quarter of 2022, subject to regulatory approval and customary closing conditions.

Marlin Business Services Corp. announced the completion of its all-cash acquisition by funds managed by affiliates of HPS Investment Partners LLC, effective January 20, 2022, for $23.50 per share. Following the transaction, Marlin becomes a wholly owned subsidiary and joins HPS-managed Global Leasing Platforms, and its shares will no longer trade on the Nasdaq Global Select Market.

KKR acquired Merchants Mortgage Trust & Corporation, LLC (MMTC), a Denver-based real estate lending platform focused on short-term residential bridge mortgage products for experienced individual real estate investors. KKR made the investment through its private credit funds and accounts under its Asset-Based Finance strategy to provide MMTC long-term capital for growth and product/geographic expansion. As part of the transaction, MMTC will also acquire the outstanding interests in its affiliate, Orchard Funding.

Alpine Investors sold its portfolio company, MidAmerica Administrative & Retirement Solutions (MidAmerica), to U.S. Retirement & Benefits Partners (USRBP). MidAmerica provides third-party administration for retirement and health & welfare plans serving public sector employers, and transaction terms were not disclosed.

Transworld Systems Inc. (TSI) has completed the acquisition of EOS North America, a first- and third-party collection agency serving clients across government, financial services, healthcare, telecom, and utilities in the United States and Canada. The deal expands TSI’s first-party collections and customer care capabilities and adds AffordaPay, a buy-now-pay-later healthcare solution; terms were not disclosed.

Ultimus Fund Solutions acquired FD Fund Administration to expand its private fund administration footprint and enhance capabilities in real estate, credit, and infrastructure funds. FD Fund Administration will be merged into Ultimus’ private fund business unit, Ultimus LeverPoint Private Fund Solutions. The acquisition was backed by private equity firm GTCR and closed on December 15, 2021.

Funds managed by Blackstone GP Stakes acquired a minority ownership interest in Nautic Partners LLC, forming a new strategic partnership. The investment is intended to support Nautic’s continued growth and value-creation strategy across its focus sectors.

Prime Pensions LLC, a portfolio company of Mill Point Capital LLC, acquired Pension Planners Northwest, Inc. (PPNW), an Oregon-based provider of retirement plan design, administration, and consulting services. The acquisition expands Prime Pensions’ retirement plan compliance and administration capabilities and extends its geographic presence in the Northwestern United States.

CURO Group Holdings Corp. entered into a definitive agreement to acquire Heights Finance for total consideration of $360 million, comprised of $335 million in cash and $25 million in CURO common stock. Heights Finance, which provides installment loans and related opt-in insurance and financial products through a multi-state branch network, is being acquired from private equity firm Milestone Partners. The deal is expected to close by the first quarter of 2022, subject to customary conditions and licensing approvals.

Experity Ventures LLC acquired 100% of the equity of Anchor Fundings, a New York City-based consumer litigation finance firm. The acquisition adds Anchor’s plaintiff and attorney liquidity solutions to Experity’s litigation finance-focused specialty finance platform. Financial terms were not disclosed.

Hunter Point Capital (HPC) has made a strategic minority investment in MidOcean Partners, a New York-based alternative asset manager focused on middle-market private equity and alternative credit. MidOcean stated that its investment process, management, and day-to-day operations will remain unchanged, and financial terms were not disclosed.

Covius Holdings, Inc. completed the acquisition of Nationwide Title Clearing, LLC (NTC), a Palm Harbor, Florida-based provider of lien release, document production, and mortgage industry research and file services. Following the transaction, approximately 670 NTC employees and senior management joined Covius, and NTC will continue operating under its brand as a “Covius Solution.”

The Simplicity Group ("Simplicity") announced its acquisition of Atlanta-based Keystone Benefit Group ("Keystone"), an executive benefit consulting firm focused on serving tax-exempt entities and healthcare organizations. With the transaction closing, Keystone becomes the 31st company to join Simplicity, and David Falkenstein, Jeff Milstead, and Michael Falkenstein join as partners.

StoicLane closed on a majority stake in appraisal management company Lender's Valuation Services (LVS). The partnership is intended to drive innovation and growth in the appraisal industry and represents the first acquisition for StoicLane’s mortgage services platform focused on tech-enabled mortgage closing solutions.

Simplicity Group announced the acquisition of Ohio-based Oxbow Marketing Company, an exclusive wholesale distributor of life and annuity products. Following the transaction, Oxbow president Robb Daugherty will become a partner in Simplicity Group, and Oxbow will begin rebranding to Simplicity.

Class Valuation, a technology-enabled appraisal management company backed by Gridiron Capital, acquired SouthEastern Evaluation. SouthEastern, headquartered in Greenville, South Carolina, provides appraisal management and valuation services to mortgage lenders, banks, and credit unions across 20 states. The deal expands Class Valuation’s density and appraiser relationships in the southeastern United States.

Professional, a provider of first- and third-party accounts receivable management services, received a strategic investment from Tonka Bay Equity Partners. The partnership is intended to support Professional’s continued expansion, technology investment, and broader geographic reach while keeping its leadership team and service lines unchanged under the Professional brand.

UniversalCIS acquired the Lending Solutions and Appraisal Management Divisions of Data Facts to expand its mortgage origination solutions platform and appraisal management capabilities. The deal also broadens UniversalCIS’ geographic reach and represents its first acquisition since receiving an investment from Lovell Minnick Partners in March 2021; financial terms were not disclosed.

J.C. Flowers & Co. LLC has closed its acquisition of iLendingDIRECT, an automotive refinancing and auto refinance marketing company. Financial terms were not disclosed, and the closing includes new board appointments for iLendingDIRECT.

Simplicity Group acquired American Financial Network, LLC, a specialty life and annuity insurance distribution business, expanding its group of distribution companies. The transaction closed effective March 31, 2021, and American Financial Network will begin rebranding to Simplicity immediately. As part of the deal, Gregory E. Nemec and Greg A. Nemec joined Simplicity as partners and shareholders.

Simplicity Group acquired Sunderland Group, a long-standing independent health, life, and annuity distribution business. The transaction closed effective March 31, 2021, and brings co-owners Brad and Derek Sunderland into Simplicity as partners and shareholders.

Gridiron Capital, LLC acquired Class Valuation, a technology-enabled nationwide appraisal management company serving residential mortgage lenders. The company was acquired from Narrow Gauge Capital, which will retain a minority ownership stake, with Gridiron partnering with management to support growth and innovation in residential valuation services.

Peloton Capital Management and Stephen Smith acquired Glass Lewis, a provider of independent global governance and proxy voting research and technology solutions. The company was purchased from Ontario Teachers' Pension Plan Board and Alberta Investment Management Corporation (AIMCo).

LendingClub Corporation announced it has completed the acquisition of Radius Bancorp, Inc. and its digital bank subsidiary, Radius Bank. The transaction combines LendingClub’s online lending and fintech marketplace model with Radius’s digital-first, branchless banking capabilities to create a full-spectrum “marketplace bank.”

Meridian Capital Group and Barings announced a partnership to form a new agency lending platform that will acquire the assets and liabilities of Barings Multifamily Capital, LLC (BMC), subject to regulatory approvals. Meridian will take a majority control position in the new entity, which will operate BMC’s agency loan origination and servicing business under new ownership and branding led by CEO David Brickman. Separately, Meridian also announced a strategic partnership with investment funds managed by Stone Point Capital to support Meridian’s growth.

Miami International Holdings, Inc. (MIH), parent of the MIAX Exchange Group, completed its previously announced acquisition of the Minneapolis Grain Exchange (MGEX) for a combination of cash and MIH common stock. MGEX will continue operating as a wholly owned subsidiary of MIH, expanding MIH’s capabilities with an established futures trading and clearing platform.

Foreside Financial Group, LLC acquired the regulatory compliance business of Integrated Compliance Solutions Group (ICSGroup), expanding Foreside’s tech-enabled governance, risk management, and compliance capabilities for asset and wealth managers. ICSGroup, founded in 2008 and headquartered in Hartford, Connecticut, provides regulatory compliance services with a focus on private funds and emerging managers. Financial terms were not disclosed.

SitusAMC Holdings Corp. has acquired LogicEase Solutions Inc., the parent company of mortgage compliance technology provider ComplianceEase. The deal adds ComplianceEase’s automated compliance products, including ComplianceAnalyzer and TRID Monitor, to SitusAMC’s real estate finance technology portfolio, and the ComplianceEase management team will be retained.

Teneo acquired Goldin Associates LLC, a financial advisory firm specializing in distressed situations, financial restructuring, valuation analyses, and fiduciary roles. Following the acquisition, Goldin’s team will join Teneo’s Capital Advisory business segment (its investment banking arm) to expand restructuring and financial advisory capabilities. Deal terms were not disclosed.

American Discovery Capital (ADC) has acquired Los Angeles-based investment banking firm Clear Capital Advisors. Clear Capital’s founder Bruce Pompan and other team members are joining ADC, expanding ADC’s investment banking and advisory capabilities. Financial terms were not disclosed, and certain assets (including Clear Capital Securities LLC) were excluded from the transaction.

Colony Capital agreed to a strategic investment under which affiliates of Wafra will acquire a minority stake in Digital Colony, Colony Capital’s digital investment management division. The investment is expected to total over $400 million and is intended to provide permanent capital to support Digital Colony’s digital infrastructure investing and fund products, while Colony Capital will use proceeds to invest in digital infrastructure assets and expand its digital investment management business.

Vida Capital, Inc., together with its private equity sponsors Reverence Capital Partners and RedBird Capital Partners, acquired the assets of Avmont, LLC, a longevity risk-based asset manager and advisor focused on life settlements. The deal strengthens Vida’s life settlement platform through the addition of Avmont’s team, intellectual property, and certain client and sub-advisory relationships; financial terms were not disclosed.

Fourshore Partners acquired North State Acceptance (NSA), a specialty finance company that purchases and services retail installment sales contracts from automobile dealerships. NSA provides indirect subprime auto financing and direct consumer loans through a network of independent auto dealers and branch locations across the Southeast and Mid-Atlantic regions. Pine Tree Equity Partners was identified as the seller; financial terms were not disclosed.

Nationwide Property & Appraisal Services LLC, a portfolio company of Corridor Capital, completed the acquisition of Olde City Lending Solutions LLC. Olde City is an appraisal management company based in Warminster, Pennsylvania, and the deal strengthens Nationwide’s footprint in the Northeast while supporting its national scale in appraisal management and property services.

Kingsbridge Holdings LLC acquired Technology Finance Corporation (TFC), a technology leasing company providing financing for IT equipment and software to businesses across the United States. The transaction terms were not disclosed. Colonnade Securities LLC served as exclusive financial advisor to TFC on the sale.

Capitala Group sold a minority, non-controlling interest in its management firm to Mitsui & Co. (U.S.A.), Inc. (Mitsui USA) as part of a strategic partnership. The investment is intended to support Capitala’s growth in its equity and credit strategies, while Capitala’s existing management team remains in place. Financial terms were not disclosed.

Investcorp Credit Management US LLC, a subsidiary of Investcorp Bank B.S.C., entered into a definitive agreement to acquire a majority ownership interest in CM Investment Partners LLC (CMIP) by purchasing equity positions from Cyrus Capital Partners-managed funds and Stifel Venture Corp., along with newly issued interests in CMIP. Following closing, Investcorp will become the majority owner while CMIP co-CIOs Michael Mauer and Christopher Jansen will retain a minority interest. In a related arrangement, Investcorp BDC Holdings Limited also agreed to purchase up to an additional 10% of CM Finance Inc.’s common stock over a two-year period through a mix of newly issued shares and open-market purchases.

A. G. Adjustments Ltd. (AGA), an accounts receivable management firm focused on B2B commercial collections, completed a recapitalization with private equity firm Trivest Partners. Carter Morse & Goodrich served as AGA’s exclusive financial advisor, and transaction terms were not disclosed.

Transworld Systems Inc. (TSI) entered into a definitive agreement to acquire Altisource Portfolio Solutions S.A.'s Financial Services business for $44 million. The deal includes Nationwide Credit, Inc. (NCI), expanding TSI’s offerings into customer relationship management and broadening its global operations across the United States, India, and the Philippines.

Narrow Gauge Capital (NGC) completed the acquisition of Class Appraisal, LLC, a nationwide provider of real estate asset valuation and appraisal management solutions for the residential mortgage industry. ICG Strategic Equity and Aberdeen Standard Investments participated in the transaction as equity co-investors alongside NGC.

Altisource Portfolio Solutions, S.A. acquired Granite Loan Management, LLC, a provider of residential and commercial loan disbursement processing, construction risk mitigation, and inspection services. 7 Mile Advisors acted as the exclusive sell-side advisor to Granite in the transaction.

Blackford Capital acquired Key Health Medical Solutions, Inc., a healthcare finance company that purchases medical debt and provides secured financing to support delivery of medical care for personal-injury patients. The transaction was completed with partners Convergent Capital and Comerica Bank, and Key Health will continue to pursue organic and acquisitive growth in the medical-legal funding market.