CIVC Partners Acquires Shelter Mortgage
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CIVC Partners Acquires Shelter Mortgage

CIVC Partners has acquired Shelter Mortgage, a retail residential mortgage originator, from its parent company, Guaranty Bank.  Shelter Mortgage is CIVC’s fourth platform investment in the mortgage industry since the firm’s initial investment in the industry in 1992.

“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,” said Jill Belconis, CEO of Shelter Mortgage.

Shelter Mortgage is a 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. The company is based in Milwaukee (www.shelter‐mortgage.com).

As part of the transaction, a total of more than $200 million in new lines of credit have been secured by Shelter Mortgage with J.P. Morgan, Bank of America, and Guaranty Bank.

“CIVC is pleased to complete our investment in Shelter Mortgage. Jill Belconis 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.

CIVC invests from $15 million to $85 million in middle-market companies that have revenues from $40 million to $300 million and minimum EBITDAs of $5 million.  Sectors of interest include business services and financial services.  CIVC currently manages over $1.3 billion in private equity funds and is investing out of CIVC Partners Fund IV.  Since its founding in 1989, the firm has completed 54 platform transactions and dozens of add‐on acquisitions. CIVC is based in Chicago (www.civc.com).

“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,” said Marc McManus, a principal at CIVC.

© 2013 PEPD • Private Equity’s Leading News Magazine • 2-6-13

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