THL Partners takes stake in newly reorganised mortgage, real estate transaction business


mortgage_lrgPrivate equity firm Thomas H Lee Partners (THL) has invested in a pair of subsidiaries of insurance and real estate transaction services business Fidelity National Financial.

THL now owns a 35 per cent interest in each of Black Knight’s operating subsidiaries ServiceLink Holdings and Black Knight Financial Services, which formerly made up the business of Lender Processing Services.

Fidelity agreed to buy LPS for $33.25 per share last year, valuing the provider of technology and services to the mortgage and real estate industries at $2.9bn.

The offer represented a 19 per cent premium to LPS’ average closing price over the 30 day period to May 22, the last day of trading before reports about a possible deal between the two companies appeared.

President and CEO of LPS Hugh Harris said at the time, “As the mortgage industry continues to face increasing regulation, participants in the industry are seeking out those strategic partners who offer quality, comprehensive solutions, a strong balance sheet and a commitment to innovation.

“The combined LPS and FNF offer comprehensive technology and services to address many of the challenges facing the industry today and the best solutions to support future success.”

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