Lovell Minnick Partners LLC, a private equity firm focused on investments in financial services, financial technology and related business services, has acquired a majority stake in UniversalCis, a technology-enabled provider of credit data and related origination services in the mortgage industry. Moving forward, Lovell Minnick and UniversalCis’ management team will work closely to leverage this investment to fuel the growth of the company and provide additional capital for future acquisitions.
“We are thrilled to partner with UniversalCis’ management team to further grow and scale its unique offerings,” said Jason Barg, partner at Lovell Minnick. “The UniversalCis team has built an incredible company that plays a critical role in the mortgage origination process and provides best-in-class technology and customer service in a seamless, centralized manner. We believe the Company has tremendous growth potential and is well-positioned to benefit from tailwinds driving increased technology adoption and M&A activity in the mortgage market.”
“Lovell Minnick has a strong track record of supporting financial technology companies in the mortgage and lending industry as they scale their businesses, making them an ideal partner for us,” said Perry Steiner, chairman of UniversalCis. “We’re excited to embark on the next chapter of UniversalCis’ success as we collaborate with Lovell Minnick to continue to broaden and enhance our technology offerings for new clients and markets.”
Former Speaker of the House Paul Ryan and Former Secretary of the Navy John Dalton will continue to serve UniversalCis, joining the company’s board of directors. Steve Ozonian, an advisor to Lovell Minnick and industry veteran, will also join the board.
GCA Advisors served as exclusive financial advisor to UniversalCis. Morgan, Lewis & Bockius served as legal counsel to Lovell Minnick, while McDonald Hopkins served as legal counsel to UniversalCis.