- Baker Hill is being acquired by non-public fairness agency Flexpoint Ford.
- Monetary phrases of the deal weren’t disclosed.
- Firm President and CEO John M. Deignan will proceed to steer the enterprise.
Lending-as-a-Service supplier Baker Hill has agreed to be acquired by non-public fairness agency Flexpoint Ford. Riverside-owned Baker Hill has not launched monetary phrases of the deal, which is predicted to shut upon the receipt of regulatory approvals.
Baker Hill will faucet into the Flexpoint workforce’s expertise and fintech information and can have the ability to leverage the non-public fairness agency’s capital to fund product developments and acquisitions. The Indiana-based firm may also have the ability to profit from Flexpoint’s perception into the wants of financial institution and credit score union purchasers. As Vilas Nair, Flexpoint Principal defined, the agency can “assist Baker Hill’s mission of serving to banks and credit score unions foster extra worthwhile relationships with their clients and drive financial improvement of their communities.”
“Baker Hill has a long-standing repute for being a trusted supplier of differentiated mortgage origination and danger administration software program, which has helped gasoline our constant development every year. This ongoing market validation is a supply of inspiration for our workforce and by partnering with Flexpoint we are able to proceed to raise the lending expertise for our financial institution and credit score union purchasers,” stated Baker Hill President and CEO John M. Deignan. “Our workforce is assured this partnership will present new alternatives to ship extra worth for our purchasers and the communities they serve.”
Deignan, together with the corporate’s current management workforce, will proceed to steer the enterprise and stay shareholders.
With $7.5 billion of regulatory belongings underneath administration, Flexpoint Ford’s portfolio is comprised of corporations within the monetary companies and healthcare industries. The agency has invested in additional than 40 corporations since 2005.
Based in 1983, Baker Hill gives banks and credit score unions a SaaS answer for industrial, small enterprise, and shopper mortgage origination, in addition to danger administration instruments. The corporate, which most lately demoed at FinovateFall 2021, has obtained quite a few awards lately. The IndyStar chosen it as a prime office in Central Indiana, Aite-Novarica acknowledged Baker Hill NextGen as finest at school product, and, most lately, the corporate obtained a Product Innovation of the Yr Mira Award nomination.
Picture by Sora Shimazaki
