An affiliate of private investment firm Sun Capital Partners Inc. has completed the acquisition of LoanLogics, a digital mortgage solutions provider focused on document processing automation and audit software.
Founded in 2005 and headquartered in Jacksonville, Fla., LoanLogics’ platforms serve 10,000 users at more than 120 institutions across all 50 states.
Terms of the transaction were not disclosed.
“Sun Capital is thrilled that LoanLogics is our second technology platform investment after formalizing our technology vertical,” says Marc Leder, co-CEO of Sun Capital. “Inefficiencies in data and workflow are driving rising mortgage market costs, and LoanLogics helps solve this industry challenge.”
“We are eager to begin work with Sun Capital, who we firmly believe brings the level of experience necessary to help us leverage our technology leadership, excel operationally and optimize growth,” adds Bill Neville, CEO of LoanLogics. “The support and resources Sun Capital is capable of providing to companies like ours will enable LoanLogics to continue to ensure quality performance for our clients, enhance our operations and best serve the rapidly modernizing mortgage technology market.”