Portico Capital advises Equifax on the sale of Equifax Settlement Services to Nationstar Mortgage
February 07, 2013
Portico Capital Securities LLC is pleased to announce that it served as the exclusive financial adviser to Equifax on the sale of Equifax Settlement Services to Nationstar Mortgage.
Below are more details from Nationstar's press release:
Nationstar Mortgage Announces Acquistion of Equifax Settlement Services
Lewisville, TX – Nationstar Mortgage Holdings Inc. (NYSE: NSM) (“Nationstar”), a leading residential mortgage services company, announced today that it acquired Equifax Settlement Services Holding, LLC (“ESS”) from Equifax Inc. on February 6, 2013. ESS is a leading provider of appraisal, title insurance and settlement services in the United States and serves a broad array of blue chip clients, including the largest financial institutions in the country. Nationstar intends to combine ESS with its Solutionstar platform and rebrand ESS as “Solutionstar Settlement Services”.
“This acquisition will play a key role in our goal to become the long-term strategic partner of choice to financial institutions,” said Nationstar CEO Jay Bray. “Combined with our asset management and recovery businesses, ESS brings critical capabilities and an experienced management team that will greatly enhance the value of Solutionstar. In support of our strategy to further broaden our real estate services offering across the entire mortgage lifecycle, we will continue to pursue strategic acquisitions of fee-based services companies that meet our return thresholds.”
“Nationstar is proud to add ESS to the Solutionstar family of services,” said Solutionstar President Shawn Stone. “ESS’ reputation for customer service and quality execution set the company apart. We remain committed to serving ESS’ current clients and are excited for the opportunity to further grow the Solutionstar platform.”
ESS currently has over 130 employees based in Coraopolis, PA and Frisco, TX. ESS had over $65 million in revenue in 2012.
Portico Capital Securities LLC served as exclusive financial advisor to Equifax with respect to this transaction.
Based in Lewisville, Texas, Nationstar offers servicing, origination, and real estate services to financial institutions and consumers. Nationstar is one of the largest servicers in the United States, with a servicing portfolio of over 1.8 million residential mortgages in excess of $300 billion in unpaid principal balance as of February 1, 2013. Nationstar’s integrated loan origination business mitigates servicing portfolio run-off and improves credit performance for loan investors. Our Solutionstar business unit offers asset management, settlement, and processing services. Nationstar currently employs over 4,900 people.
About Portico Capital Securities, LLC
Portico Capital provides independent strategic and financial advisory services in the areas of mergers & acquisitions (M&A), recapitalizations and capital raisings exclusively to private and public companies in the global information and business services sector. The firm, founded in 2000, has offices in Greenwich, Connecticut and London, England. For more information, please visit http://www.porticocapital.com/
S. Searcy Dryden, General Partner