Narrow Gauge Capital (NGC) has completed the acquisition of Class Appraisal, a provider of real estate asset valuation and appraisal management solutions to the US residential mortgage industry.
Class is one of the fastest-growing and most respected companies in the industry, offering its clients the highest levels of service and performance in the appraisal management process.
“Class Appraisal is a tremendous company that offers the absolute best service model that we have seen in the appraisal management business,” says Adam Doctoroff, partner at NGC. “Class has developed an incredible company culture, operational excellence, and a trusted partnership with industry-leading clients and top-performing appraisers that will generate continued significant growth.”
“Narrow Gauge Capital has developed deep knowledge of the mortgage industry and has consistently demonstrated its strong commitment to providing unmatched client service and world-class technology,” says Alex Elezaj, CEO of Class Appraisal. “Our new ownership will allow us to continue to invest in our service offering for the benefit of all of our customers.”
“We have made great progress over the past several years and are excited to work with Narrow Gauge to enhance our market-leading position,” says Jon Tallinger, Vice President of Sales and Marketing for Class Appraisal.
ICG Strategic Equity and Aberdeen Standard Investments provided equity co-investment in the transaction alongside Narrow Gauge Capital. Keefe Bruyette & Woods, A Stifel Company, acted as exclusive financial advisor to Class Appraisal in the transaction, and Bass Berry & Sims PLC served as legal counsel to the Company. Berkery Noyes served as exclusive financial advisor to NGC in the transaction, and Winston & Strawn LLP served as legal counsel.
