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Lovell Minnick Partners acquires ATTOM Data Solutions

Lovell Minnick Partners, a private equity firm specialising in financial and related business services companies, has acquired ATTOM Data Solutions (ATTOM), a provider of national real estate data and analytics.

Lovell Minnick acquired ATTOM from Renovo Capital and Rosewood Private Investments. Financial terms of the private transaction have not been disclosed.
 
Headquartered in Irvine, California, ATTOM manages a comprehensive data platform that draws upon a wide range of sources to provide property tax, deed, mortgage, foreclosure, environmental risk, natural hazard and neighbourhood data for more than 155 million US residential and commercial properties covering 99 per cent of the nation’s population. ATTOM licenses its data to companies in the real estate, mortgage, insurance, marketing and adjacent industries.
 
“ATTOM’s data provides mission-critical insights to enterprise clients who seek to make well-informed business decisions with the benefit of historic, rich and near real-time data,” says Jason Barg, Partner, Lovell Minnick Partners. “We’re excited to partner with CEO Rob Barber and his team who have an excellent reputation for leadership and innovation in the real estate data and information services market.”
 
“ATTOM remains focused on expanding our seamless end-to-end data platform to deliver greater value for our customers as we continue to grow our market share in our core markets and build out our footprint in new end-markets across the U.S.,” said Barber. “We look forward to the next chapter of our growth, supported by the experience and resources of Lovell Minnick Partners, as we further strengthen our position as the premier one-stop shop for high-quality real estate data.”
 
Lovell Minnick Partners has strong experience investing in technology-enabled service providers in the financial services sector, such as Engage People Inc., an innovative, market-leading solutions provider for the global loyalty and incentive industry, and more recently, SRS Acquiom, a market-leading provider of technology-enabled solutions to facilitate private market M&A transactions. Lovell Minnick Partners also has deep industry knowledge and relationships in the property sector developed through proprietary research and through prior investments in the space such as JS Held, a specialty advisory firm that provides property loss consulting among other services, and CenterSquare Investment Management, a global investment manager focused on actively managed real estate and infrastructure strategies.
 
“ATTOM’s management team has generated strong organic growth and successfully pursued accretive strategic opportunities such as their acquisition of neighbourhood data provider Onboard Informatics in early 2018,” said John Cochran, Partner, Lovell Minnick Partners. “We believe the Company’s innovative technology platform, focus on superior data quality and customer service, and its recurring license revenue model position ATTOM extremely well for continued success in the space. We are eager to support management in executing their strategic plan to build the leading technology platform in the real estate data industry.”
 
Morgan Lewis served as LMP’s legal counsel. GCA Advisors acted as financial advisor to ATTOM, while Venable LLP served as ATTOM’s legal counsel. Monroe Capital provided debt financing for the transaction.

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