DIMONT, a provider of specialty insurance and loan administration solutions to the residential and commercial financial services industries, has secured an investment from Renovo Capital, a Dallas-based private equity fund.
In partnership with a veteran management team, Renovo Capital’s investment enables DIMONT to continue to grow and innovate, while benefitting from Renovo’s sector expertise. Renovo Capital also owns RealtyTrac and Homefacts.
“DIMONT is a strong, longstanding business in a dynamic and growing sector and we are excited to partner with Denis Brosnan and the management team to support the company’s continued efforts toward product innovation and service expansions,” says David Hull, managing partner at Renovo Capital.
In connection with this transaction, Brosnan agreed to a new five-year contract to continue his role as president and chief executive officer of DIMONT.
“I am excited by the opportunity and humbled by the confidence entrusted in me and my team by our investors to lead the company into this new era,” says Brosnan.
DIMONT also announced a number of internal promotions, including Fran Weichsel as senior vice president of operations and client services; Tom Stover as senior vice president of solutions development; Teresa Epperson as senior vice president of administrative services and Lyné Donovan as vice president of finance.
Brosnan says of the promotions: “These professionals are experts in their fields with extensive industry experience and a deep commitment to outstanding service. I am proud of their promotions and look forward to forging the path to the next great chapter of DIMONT’s history.”
