Lovell Minnick Partners (LMP), a private equity firm focused on investments in the global financial services industry, including related technology and business service companies, is to acquire a majority stake in Inside Real Estate, an end-to-end SaaS platform serving the residential real estate market.
Financial terms of the transaction have not been disclosed.
Headquartered in Salt Lake City, Inside Real Estate provides an end-to-end software solution to residential real estate brokers, teams and agents that empowers their ability to manage the full cycle of home property buying and selling. Founded in 2008, the Company’s platform serves over 200,000 top agents, teams and brokerages, enabling them to manage the complete front-end marketing and sales processes for home purchases and sales, and back office functions, such as accounting and commission payments.
“Inside Real Estate is a highly trusted partner for its differentiated and end-to-end SaaS platform that enables residential realtors, teams and agents across North America to compete more effectively and deliver positive results for their clients,” says John Cochran, a Partner at Lovell Minnick Partners. “We are excited to support CEO Ned Stringham and his team, who have built a robust platform delivering an incredibly innovative and complete technology solution to serve today’s top performing real estate professionals.”
“LMP has an exceptional investment track-record of backing strong, growth-oriented financial technology businesses, including those in real estate, and it’s an honor to have their confidence and support,” says Stringham. “We’re excited to partner with a firm that will enable Inside Real Estate to remain an independent, reliable and innovative tech partner that supports the growth of our customers’ real estate businesses for years to come.”
Inside Real Estate has experienced strong recent momentum in partnering with some of the top brokerages in the country. The Company has continued to invest in building out its product suite and has recently expanded its marketplace to include new products.
“Inside Real Estate’s advanced kvCORE platform meets the needs of our nation’s most innovative brokers, teams and agents who have come to recognise the value that its next generation platform offers as compared to other siloed vendor solutions,” says Jason Barg, a Partner at Lovell Minnick Partners. “This transaction builds on our firm’s history of partnering with management teams and founders of technology-enabled financial and related business service companies. We are excited about the opportunity to support the Company’s growth through strategic acquisitions and organic initiatives, in addition to building out Inside Real Estate’s technology solutions.
GCA acted as an exclusive financial advisor to Inside Real Estate in the transaction. Morgan, Lewis & Bockius served as legal counsel to LMP, while Parr Brown Gee & Loveless served as counsel to Inside Real Estate.
