BBH Capital Partners Private Equity, the private equity arm of Brown Brothers Harriman, has made a significant minority equity investment in Goal Solutions, a provider of loan servicing, asset management, SPV administration and analytics services. No financial terms were disclosed.
The minority recapitalization is the first institutional investment in Goal Solutions, which was founded nearly two decades ago by Ken Ruggiero, who remains chairman. The company's leadership team, led by president and chief executive Matt Myers, and its business model will stay in place. Goal Solutions offers primary and backup servicing, asset management and SPV administration to clients in consumer finance.
The investment will support new asset classes and additional services, as well as new opportunities across financial services. Its leadership team has managed more than $48 billion in consumer assets. Brad Langer, BBH partner and co-manager of BBH Capital Partners Private Equity, said the firm will back the company as it "broadens its expertise through organic investments and strategic acquisitions to address the expanding needs of loan originators and investors across servicing, administration, reporting and analytics."
Goal Solutions began looking for an investment partner more than a year ago and hired Houlihan Lokey to run the search. BBH Capital Partners Private Equity focuses on providing first institutional equity capital to founder-, family- and management-owned middle-market companies. It can invest as a control or non-control investor and targets platform investments of $50 million–$150 million. Brown Brothers Harriman was founded in 1818.
Source: PE Hub · Summarized by HeadlinesBriefing