Berkery Noyes Advises Guideline Real Estate Services in its Acquisition by Nationwide Property & Appraisal Services
March 29, 2019
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Gibbsboro, NJ and Los Angeles, CA – Nationwide Property & Appraisal Services LLC (“Nationwide”), a portfolio company of Corridor Capital, continuing its strategy of growth and service capability expansion, completed the acquisitions of appraisal management and property valuation services companies (“AMC”), Guideline Real Estate Services, LLC (“Guideline”) and OrderPro USA, LLC (“OrderPro”).
Guideline, founded in 2009 and based in Chaska, MN, is a leading regional AMC with a strong reputation and presence in the retail channel, principally serving bank and credit union customers in the North-Central U.S. The company’s service driven culture and technology-forward appraisal management process have provided both lender clients and appraisers with a highly efficient, accurate and compliant solution for the property valuation process for a decade.
OrderPro, also founded in 2009, is an AMC headquartered in Overland Park, KS, serving lender clients across the U.S. OrderPro has long been established as a leader in providing appraisal management services to the retail divisions of bank and credit union customers in the South-Central U.S., while actively growing its national presence.
These transactions and the high quality network of team members, appraiser partners and blue-chip clients that Guideline and OrderPro will contribute to the combined company, transform Nationwide into a truly national AMC managing over 150,000 appraisals annually through a robust, proprietary technology and service platform, with strong market positions throughout and dedicated teams located in the Northeast, Southeast, North and South Central, and West Coast regions of the country. The combination creates a leader among independent appraisal management companies with a track record of success providing a high-touch, localized level of customer service on a professional, nationwide scale to the retail and wholesale lending operations of a diverse base of regional and national banks, credit unions and mortgage lenders.
“We were incredibly impressed with both Guideline and OrderPro’s dedicated team members and commitment to delivering the highest levels of service, compliance and functionality to their customers and appraiser partners. This combination will rapidly accelerate Nationwide’s goal of offering a comprehensive suite of valuation and appraisal management solutions across the entire mortgage and property services industry, by leveraging our combined national sales and service coverage, large and highly qualified panel of independent appraiser partners, and best in class technology, compliance and order management solutions,” stated Andrew Lazev, CEO of Nationwide.
“We are excited to partner with the management teams at both Guideline and OrderPro and look forward to supporting the next phase of growth for Nationwide,” said Cameron Reilly, Corridor Capital Managing Director. “We believe the collective investments in great people, highly efficient processes, intuitive technology and a comprehensive valuation service offering, will position Nationwide as a true leader in the dynamic AMC and broader valuation services markets.”
Comerica Bank provided a senior credit facility in support of the investment. This marks Comerica’s third such facility alongside Corridor Capital.
Southfield Mezzanine, a private investment firm which provides mezzanine and junior capital financing to lower middle-market companies also supported the transaction through debt and equity investments in the company.
Berkery Noyes served as exclusive financial advisor to Guideline.