Solidifi, an independent real estate appraisal management company (AMC), has acquired Southwest Financial Services Ltd., a national, independent provider of outsourced services to home equity lenders.
Cincinnati-based Southwest Financial Services Ltd. delivers title, valuation and flood determination services for many lending institutions, processing more than 5,000 transactions a day.
The acquisition was made with the AMC's existing cash resources. Solidifi's parent company, Real Matters, raised $60 million in financing to maintain the company's balance sheet and to pursue further strategic opportunities.
The company has invested more than $30 million to date in its technology platform that will further enhance appraisal and title transaction performance for Solidifi and Southwest Financial Services customers.
Berkery Noyes was an advisor for the transaction.