LRES Corp., a diversified REO/asset management and valuations company, has signed a definitive agreement to acquire Keystone Asset Management Inc., a Pennsylvania-based REO/asset management business that also offers appraisal/valuation services.
Terms of the deal were not divulged.
In a release, LRES says the acquisition will enable it to expand its servicing solutions channel as well as the number of customers it serves.
The deal is expected to be completed September 1.
Roger Beane, CEO of LRES, says his company is already familiar with the management team at Keystone Asset Management “and have admired their growth, innovation, and resiliency.”
“It was an easy decision to join forces,” Beane says. “The two companies present a formidable solution to the REO and valuation ecosystems”
“Roger and I have talked for a long time about finding a way to align forces,” adds Jane Hennessy, founder of Keystone. “We are delighted that this acquisition has occurred. LRES brings an additional layer of Tier One delivery capabilities. It is an exciting time for our team.”
Photo: Jonny GiosHire