CIVC Partners, L.P., a Chicago-based middle market private equity firm focused on investments in the financial services and business services industries, is pleased to announce the firm’s acquisition of Shelter Mortgage from its parent company, Guaranty Bank. As part of the transaction, a total of more than $200 million in new lines of credit have been secured with J.P. Morgan, Bank of America, and Guaranty Bank.
Shelter Mortgage, based in Milwaukee, WI, is a leading retail residential mortgage originator predominantly focused on conforming purchase money loans generated through partnerships with realtors, builders, and relocation companies. Founded in 1984 as a subsidiary of Guaranty Bank, Shelter has over 170 loan officers located across the country and is licensed to originate loans in 28 states. For additional information on Shelter Mortgage, visit www.shelter-mortgage.com and for information on partnership opportunities, visit www.sheltermortgagepartnerships.com.
Jill Belconis, CEO of Shelter Mortgage, said, “We’re excited about entering this partnership with CIVC, a firm that understands the financial services market and has a record of helping management teams drive growth. We expect to drive growth through a stronger value proposition for our partners, an enhanced mortgage product offering for our borrowers, and the continued recovery of the housing market.”
“CIVC is pleased to complete our investment in Shelter Mortgage. Jill and her team have built a strong platform in the mortgage industry via a differentiated, partnership-based origination model, focus on purchase money originations, and a compliance-oriented culture,” said Dan Helle, a partner at CIVC. Marc McManus, a principal at CIVC added, “We believe Shelter Mortgage is uniquely positioned to take advantage of the recovering housing market. We have tremendous confidence in the Shelter Mortgage team and are excited for the next phase of the company’s growth.”
Shelter is CIVC’s fourth platform investment in the mortgage industry since the firm’s initial investment in the industry in 1992.
Sandler O’Neill served as financial advisor to Guaranty Bank on the transaction.
About CIVC Partners, L.P.
CIVC Partners is a Chicago-based private equity firm with over 20 years of private equity experience. CIVC has completed 54 platform transactions and dozens of add-on acquisitions since 1989. CIVC currently manages over $1.3 billion in private equity funds and is investing out of CIVC Partners Fund IV. CIVC focuses on companies operating within the business services and financial services industries. More information on CIVC Partners and its portfolio companies can be found at www.civc.com.
If you have an opportunity that might be an add-on acquisition candidate for Shelter Mortgage, please contact Dan Helle or Marc McManus.