Forsythe Appraisals, a portfolio company of Hillcrest Capital Partners, has been acquired by First American Financial Corporation (NYSE: FAF)
Prestwick is pleased to announce the sale of Forsythe Appraisals, LLC to First American Mortgage Solutions, LLC, a subsidiary of First American Financial Corporation (NYSE: FAF). Prestwick acted as the exclusive advisor to Forsythe Appraisals and its private equity shareholder, Hillcrest Capital Partners. The terms of the transaction were not disclosed.
Forsythe is a leading provider of residential real estate valuation services to the U.S. mortgage lending industry. Founded in 1940, Forsythe is the largest independent staff residential real estate appraisal firm and has developed an outstanding reputation for providing high-quality valuation services and superior customer service, which has earned Forsythe a favored position with national and regional bank and non-bank lenders, appraisal management companies (“AMCs”) and credit unions.
Hillcrest Capital Partners is a Minneapolis-based private investment company founded in 2002 to acquire lower middle-market companies based in the Midwest. As business owners, Hillcrest serves as active board members helping existing management teams to define and implement strategic plans focused on growing businesses aggressively. Hillcrest invests across a wide range of industries.
First American Financial Corporation (NYSE: FAF) is a leading provider of title insurance, settlement services and risk solutions for real estate transactions that traces its heritage back to 1889. First American Mortgage Solutions, a part of the First American family of companies, provides comprehensive solutions for residential lenders and servicers covering the entire loan spectrum.