M&A Deal Summary

First American Mortgage Solutions Acquires Forsythe Appraisals

On April 1, 2016, First American Mortgage Solutions acquired real estate company Forsythe Appraisals from Hillcrest Capital Partners

Acquisition Highlights
  • This is First American Mortgage Solutions’ 1st transaction in the Real Estate sector.
  • This is First American Mortgage Solutions’ 1st transaction in the United States.
  • This is First American Mortgage Solutions’ 1st transaction in Minnesota.

M&A Deal Summary
Date 2016-04-01
Target Forsythe Appraisals
Sector Real Estate
Buyer(s) First American Mortgage Solutions
Sellers(s) Hillcrest Capital Partners
Deal Type Add-on Acquisition

Target

Forsythe Appraisals

St. Paul, Minnesota, United States
Forsythe Appraisals LLC is an independently owned residential real estate appraisal company in the country. Forsythe Appraisals’ growth strategy has been to open new appraisal offices across the country, and the Company currently operates over 35 branch offices nationwide, serving 24 states.

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Buyer(S) 1

Buyer

First American Mortgage Solutions

Santa Ana, California, United States
Category Company
Sector Financial Services
DESCRIPTION

First American Mortgage Solutions LLC is a provider of comprehensive solutions for residential lenders and servicers covering the entire loan spectrum.

DEAL STATS #
Overall 1 of 1
Sector (Real Estate) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Minnesota) 1 of 1
Country (United States) 1 of 1
Year (2016) 1 of 1

Seller(S) 1

SELLER

Hillcrest Capital Partners

Minneapolis, Minnesota, United States

Investor Investor

Category Private Equity Firm
Founded 2002
Size Small
Type Sector Agnostic
DESCRIPTION

Hillcrest Capital Partners is a Midwest private equity firm focused on lower middle-market acquisitions in the Midwest US. The Firm targets businesses generating sales of $6 to $20 million and EBITDA of $1 to $3 million. Hillcrest typically looks to acquire controlling interests in family-owned businesses or companies where the founder is looking for liquidity. Hillcrest does not have any sector preferences, as long as the market is stable/growing and non-regulated. Hillcrest does not invest in turnarounds or venture investments. Hillcrest Capital was formed in 2002 and is based in Minneapolis, Minnesota.

DEAL STATS #
Overall 2 of 4
Sector (Real Estate) 1 of 1
Type (Add-on Acquisition) 1 of 3
State (Minnesota) 1 of 3
Country (United States) 2 of 4
Year (2016) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-01 Premier Restaurant Equipment Company

Minneapolis, Minnesota, United States

Premier Restaurant Equipment Company LLC is a provider of foodservice design services and dealer of heavy commercial kitchen equipment, fixtures, millwork and furniture. Premier provides equipment to venues with food and beverage needs such as restaurants, casinos, senior care and healthcare facilities, airports, hotels, schools, prisons and convention centers.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-06-26 Premier Restaurant Equipment Company

Minneapolis, Minnesota, United States

Premier Restaurant Equipment Company LLC is a provider of foodservice design services and dealer of heavy commercial kitchen equipment, fixtures, millwork and furniture. Premier provides equipment to venues with food and beverage needs such as restaurants, casinos, senior care and healthcare facilities, airports, hotels, schools, prisons and convention centers.

Sell -
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