Granite Loan Management Acquired By Altisource Portfolio Solutions
7 Mile Advisors Acted As The Exclusive Sell-Side Advisor To Granite Loan Management, LLC In Their Sale To Altisource Portfolio Solutions, S.A. (NASDAQ: ASPS)
Granite Loan Management, LLC (“Granite”), a nationwide residential and commercial loan disbursement processing, risk mitigation and construction inspection services company, has been acquired by Altisource Portfolio Solutions, S.A. (“Altisource”), a leader in providing services and technology solutions for the mortgage and real estate industries. Tom Dinnegan, Managing Director at 7 Mile Advisors, commented, “Based on my 25-plus years of experience in investment banking and corporate development, it was clear that Granite occupied a valuable position in the lender solutions market. We were very pleased with the strategic fit between Granite and Altisource. This was a great example of how 7 Mile’s Fintech and Lender Solutions Practice gives us the focus and market knowledge necessary to unlock value for company owners in this vertical.”
7 Mile Advisors congratulates both parties on a successful transaction.
About Granite Loan Management, LLC
Granite Loan Management operates as a construction risk mitigation company that manages construction-lending portfolios for financial institutions. It offers consulting, quality control, and portfolio audit services. The company also provides risk mitigation, contractor acceptance, and project review services; construction inspection services; and fund control management, title date down, and special assets services. In addition, it offers statutory compliance, final roll-over to permanent, reporting and reconciliation, construction loan servicing, billing and collecting, construction escrow and loan workout, market analysis, contractor replacement and bid evaluation, construction completion management, quality control, portfolio and inspection audit, and training services. Further, the company provides various services, such as contractor review and acceptance, forwarding of billing statements, and collection of payments. Granite Loan Management was founded in 1993 and is based in Centennial, Colorado. For more information, visit www.granite-companies.com.
About Altisource Portfolio Solutions S.A.
Altisource Portfolio Solutions S.A. is a premier marketplace and transaction solutions provider for the real estate, mortgage and consumer-debt industries. Altisource’s proprietary business processes, vendor and electronic payment management software and behavioral science-based analytics improve outcomes for marketplace participants. Additional information is available at www.altisource.com.
About 7 Mile Advisors
7 Mile Advisors provides Investment Banking & Advisory Services to the Business Services and Technology Industries globally. 7 Mile Advisors advises on M&A and private capital transactions, and provide market assessments and benchmarking. As a close knit team with a long history together and a laser focus on our target markets, 7 Mile Advisors helps its clients sell companies, raise capital, grow through acquisitions, and evaluate new markets. All securities transactions are executed by 7M Securities, LLC, member FINRA / SIPC. For more information, including research on the M&A markets, visit www.7mileadvisors.com