Boxwood Partners advises Digital Risk, LLC
Boxwood Partners Advises Digital Risk, LLC on growth capital investment from Century Capital Management
RICHMOND, VA (May 20, 2009) – Boxwood Partners, LLC is pleased to announce that Digital Risk, LLC has received a growth capital investment from Century Capital Partners IV, LP. Boxwood Partners acted as the exclusive advisor to Digital Risk, LLC with respect to the transaction. The investment was made in the form of convertible preferred equity. Terms were not disclosed.
Based in Orlando with offices in New York, Dallas, and Jacksonville, Digital Risk is a leading next-generation integrated portfolio management solutions provider to the $4.2 trillion residential mortgage industry and broader credit risk market. Digital Risk is the only company in the market that combines proprietary predictive modeling analytics with expert forensic underwriting services, thus providing its clients an integrated 360° portfolio management solution to maximize returns and minimize losses. The Company’s predictive analytics, when integrated with its asset management services, delivers an effective set of solutions that minimize credit risk, pinpoint and prevent fraud, identify and execute loss mitigation and asset recovery opportunities, execute loan repurchase and loss indemnification, ensure regulatory compliance, assure quality, and maximize portfolio returns, among others. The Company has an impressive customer base comprising many of the most recognized financial institutions in the U.S. Digital Risk is led by a veteran management team of successful entrepreneurs, high-tech business operators, and mortgage industry specialists whose combined expertise across the software, analytics, and mortgage industries have created a truly differentiated service platform that is scalable across a significantly large and diverse end market.
Peter Kassabov, the co-founder and CEO of Digital Risk, said “Our business is experiencing incredible growth as a result of our unique and demonstrated ability to provide real value to our customers. Our services are essential to those who originate, service, securitize, hold, or insure mortgage portfolios and other related credit-based assets. We are very excited about our partnership with Century, they are experienced investors in the financial services space and have a proven track record of helping to build businesses just like ours.” Alex Santos, Managing Director and COO of Digital Risk said, “Boxwood Partners were trusted advisors to us throughout the entire process – we could (and did) call them anytime and they were always available, enthusiastic, and knowledgeable. They really helped us to select and put together a great transaction with the ideal financial partner.”
David Sherwood a Managing Director from Century Capital added, “Boxwood was easy to work with, quick to respond to questions or issues and, most importantly, knew both when to insert themselves into the process and when to stand on the sidelines both of which helped us close the transaction quickly and efficiently.”
The Digital Risk transaction was led by Boxwood Partners Managing Directors J. Patrick Galleher and Bobby Morris and Vice President Matt Schumacher.
About Century Capital Management:
Century Capital Partners IV, LP is a private equity partnership managed by the Private Equity Group of Century Capital, LLC an independent and employee-owned SEC-registered investment adviser that provides investment management services to institutions and individuals through individually managed separate accounts, mutual funds, limited partnerships, and private equity. The firm traces its origins to 1928 and the founding of Century Shares Trust, one of the oldest mutual funds in the U.S. Century Capital Management’s Private Equity Group specializes in providing growth and buyout capital to privately-held, middle-market financial services, insurance, and health care services firms. Collectively, the Principals in Century’s Private Equity Group have over 140 years of investing and operating experience in financial services. The Principals’ experience and extensive network of industry contacts enables Century to be an additive member to a portfolio company board of directors and allows Century to help management in growing their businesses.
About Digital Risk:
With offices in New York, Dallas, and Orlando, Digital Risk, LLC is a leading next-generation integrated portfolio management solutions provider to the $4.2 trillion residential mortgage industry. Digital Risk is the only company in the market that combines proprietary predictive modeling analytics with expert forensic underwriting services, thus providing its clients an integrated 360° portfolio management solution to maximize returns and minimize losses. The Company’s predictive analytics, when integrated with its asset management services, delivers an effective set of solutions that minimize credit risk, pinpoint and prevent fraud, identify and execute loss mitigation and asset recovery opportunities, execute loan repurchase and loss indemnification, ensure regulatory compliance, assure quality, and maximize portfolio returns, among others. For more information, www.digitalrisk.com.
About Boxwood Partners, LLC:
Boxwood Partners, LLC (www.boxwoodpartners.com), together with its affiliate Boxwood Capital Partners, is a merchant banking firm based in Richmond, Virginia. Boxwood Partners combines a unique blend of senior-level transaction advisory, business operating experience, and proven process execution skills to give its clients a distinct advantage in the market. The firm’s extensive relationships within the global capital and buyer communities (including U.S. and international private equity groups, corporations, hedge funds, and lenders) and other important transaction-related service providers such as consultants, attorneys, and accountants ensure that the firm’s clients receive the attention, service, and results they deserve.
Contact: J. Patrick Galleher
Phone: (804) 343-3441
pgalleher@boxwoodpartners.com
