Lovell Minnick Partners, a private equity firm based in Radnor, has acquired ATTOM Data Solutions – a national real estate data and analytics provider – from Renovo Capital and Rosewood Private Investments, writes Jeff Blumenthal for the Philadelphia Business Journal.
The terms of the deal were not disclosed.
ATTOM Data manages a comprehensive data platform that pulls from a wide range of sources to provide information, including property taxes and foreclosures. This covers more than 155 million residential and commercial properties, or around 99 percent of the nation’s population. ATTOM then licenses this data to other industries, including real estate and insurance.
“ATTOM’s management team has generated strong organic growth and successfully pursued accretive strategic opportunities such as their acquisition of neighborhood data provider Onboard Informatics in early 2018,” said Lovell Minnick partner John Cochran.
He said that it is Lovell Minnick’s belief that ATTOM’s innovative technology platform – combined with its focus on superior data quality, customer service, and recurring license revenue model – have positioned the company for ongoing success.
Rob Barber, CEO of ATTOM, said that by combining with Lovell Minnick, which specializes in investing in financial and related business services companies, the company will have the resources to continue growing.
Read more about Lovell Minnick Partners in the Philadelphia Business Journal by clicking here.