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M&A Deal Summary

Sterling Partners Private Equity Acquires Prospect Mortgage

On October 1, 2006, private equity firm Sterling Partners Private Equity acquired financial services company Prospect Mortgage

Acquisition Highlights
  • This is Sterling Partners Private Equity’s 1st transaction in the Financial Services sector.
  • This is Sterling Partners Private Equity’s 16th transaction in the United States.
  • This is Sterling Partners Private Equity’s 1st transaction in California.
Investment Fate
  • Prospect Mortgage was sold to a strategic buyer in 2017.

M&A Deal Summary
Date 2006-10-01
Target Prospect Mortgage
Sector Financial Services
Buyer(s) Sterling Partners Private Equity
Deal Type Buyout (LBO, MBO, MBI)

Target

Prospect Mortgage

Sherman Oaks, California, United States
Prospect Mortgage is an independent residential retail mortgage lender. The company was formed during a challenging market, so they know what it takes to survive and meet customer needs during tough times. Prospect offers a variety of home loan solutions including first-time homebuyer programs with down-payment assistance, FHA and VA, conventional, jumbo and super jumbo products. Prospect Mortgage was formed in 2007 and is based in Sherman Oaks, California.

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Buyer(S) 1

Buyer

Sterling Partners Private Equity

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1983
PE ASSETS 5.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Sterling Partners Private Equity is the private equity arm of asset management firm Sterling Partners. Sterling Partners Private Equityis focused on investing in small to medium-sized companies positioned for growth, either organically or through acquisitions. Sterling has a strong interest in businesses with differentiated products, defensible competitive positions, recurring revenues, and diversified customers. The Firm's target equity commitment size is $5 to $175 million. Broad sectors of interest include direct marketing, education, specialty distribution, specialty manufacturing, healthcare, technology, and business services. Sterling Partners was formed in 1983 and is based in Chicago, Illinois.

DEAL STATS #
Overall 16 of 62
Sector (Financial Services) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 7 of 19
State (California) 1 of 7
Country (United States) 16 of 60
Year (2006) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-04-05 VISICU

Baltimore, Maryland, United States

VISICU, Inc. is a healthcare information technology and clinical solutions company focused on critical care. The benefit of this approach to ICU patient care is that, by tracking each patient on a full time basis, problems can be addressed as they arise, reducing avoidable complications and thus lengths of stay.

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FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-10-03 Cole Information

Omaha, Nebraska, United States

Cole Information is a provider of technology enabled solutions through various online platforms. Their products provide hyperlocal sales leads, marketing and customer acquisition solutions for small and medium sized businesses in multiple industry verticals, including insurance, real estate, auto, home services, government and public policy. Cole Information was founded in 1947 and is based in Omaha, Nebraska.

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