M&A Wrap: Lovell Minnick, Inside Real Estate, Elanco, Bayer, General Atlantic, Arsenal
Lovell Minnick Partners is buying a majority stake in Inside Real Estate. The targets offers software services to over 200,000 real estate agents and helps them manage home sale processes and commission payments. “As we’ve seen in other areas of financial services, new technologies are transforming the way in which existing business processes are managed in real estate,” Lovell Minnick partner John Cochran tells Mergers & Acquisitions. “Today’s real estate technology environment is very fragmented, a dynamic we typically see lead to additional industry consolidation as businesses grow and evolve,” adds Lovell Minnick partner Jason Barg. Demand for real estate software is rising, as firms rely on more on technology to assist them in managing their deals and properties. Earlier in 2019, Lovell Minnick bought Attom Data Solutions from Renovo Capital and Rosewood Private Investments. Attom is a provider of real estate and and analytics that offers tax, deed, mortgage information, along with neighborhood demographics. In 2017, Luminate Capital Partners invested in AMTdirect, which provides contract management services for real estate professionals. Lovell Minnick is a business and financial services-focused private equity firm that has raised $3.2 billion since it was founded in 1999. Advisors to Inside Real Estate include: GCA and Parr Brown Gee & Loveless. The advisor to Lovell Minnick is Morgan, Lewis and Bockius.
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